The Lotus Tower in Colombo, Sri Lanka, is set to be completed later this year under China’s Belt and Road Initiative. Sri Lanka has denied all claims that it is a victim of debt-trap diplomacy. Ironically, China could turn out to be the biggest debt trap victim of all. Photo: Xinhua
Opinion
Opinion
With its belt and road projects, China risks falling into the biggest debt trap of all
- Partner countries have started to seek to renegotiate terms after projects start, meaning China may have to offer more concessions, even as instability threatens the projects. Beijing could end up becoming hostage to the massive loans it is giving out
The Lotus Tower in Colombo, Sri Lanka, is set to be completed later this year under China’s Belt and Road Initiative. Sri Lanka has denied all claims that it is a victim of debt-trap diplomacy. Ironically, China could turn out to be the biggest debt trap victim of all. Photo: Xinhua