China's Belt and Road Initiative (BRI) has left scores of Lower and Middle-Income Countries (LMIC) saddled with "hidden debts." China is using debt rather than aid to establish a dominant position in the international development finance market.
The Philippines must keep in mind that Chinese investments are known to be predatory and opaque in nature, with terms that are heavily skewed against the recipient country.
According to TRC, China has stepped up its Buddhist outreach to Sri Lanka, which remains a major Buddhist nation and is also targeted by Beijing under its Debt-Trap Diplomacy.
The Chinese Embassy in Sri Lanka slammed the US recently after an American diplomat called China a 'spoiler' to Sri Lanka's negotiations with the International Monetary Fund (IMF) in a recent interview.
The country owes almost one-third of its external debt to China, which is facing criticism for its debt trap diplomacy globally. The Pakistan regime has always ignored the people of the country while spending huge amounts of money on acquiring military equipment.
Nepal Prime Minister Pushpa Kamal Dahal on Sunday inaugurated the country's third international airport, built in the backdrop of the Annapurna Mountain Range with Chinese loans and donations.
Southeast Asian countries have resiliently withheld China's attempts to economically breach their sovereignty and have harnessed the power of China's financial might to their own advantage, reported The Singapore Post.
Satoru Nagao, a fellow (non-resident) at Hudson Institute in Tokyo, whose primary research area in US-Japan-India security cooperation, has advised Nepal to gradually distance itself from China.
In order to switch to organic fertilisers, Sri Lanka yet again relied on a Chinese company, only to get deceived in the end as the organic fertilizer supplied could not pass the two rounds of the National Plant Quarantine Services (NPQS) test due to high contamination.