Cambodian deputy PM rejects ‘debt trap’ label for China’s Belt and Road Initiative
Sun Chanthol reiterated support for Beijing’s signature infrastructure plan in Hong Kong speech, touting benefits for Cambodians
A high-ranking Cambodian official said on Wednesday that China’s Belt and Road Initiative – an infrastructure-focused strategy to accelerate regional trade – has, contrary to claims that the plan creates a “debt trap” for struggling nations, supported his country’s economic development.
In a keynote speech delivered to an audience of hundreds at the Belt and Road Summit in Hong Kong, Deputy Prime Minister Sun Chanthol said the roads, airport, expressway and a future canal – projects funded by China under the auspices of the initiative – have been a boon to the people of Cambodia.
In a similar vein, Chinese President Xi Jinping pledged to work with all parties and continue to build an “open world economy” in a letter to this year’s China International Fair for Trade in Services.
“The global economic landscape is undergoing profound changes, with both challenges and opportunities facing global development,” he said in the letter, according to a Wednesday report from state news agency Xinhua.
“China will remain steadfast in expanding high-level opening-up, actively align with international economic and trade rules and steadily advance the opening of its service market to promote high-quality growth in the services trade.”