The Liberty Times Editorial: Sri Lanka collapse a wake-up callThe government of Sri Lanka early this month declared bankruptcy, saying that it cannot pay its external debts of more than US$50 billion. The investment and construction partnership between Sri Lanka and China started long before the Belt and Road Initiative. Sri Lanka occupies a strategic location at the southeastern edge of the Indian subcontinent. When people talk about failed Belt and Road Initiative projects, they often cite Sri Lanka as an example. When Sri Lanka sought an international emergency bailout, China faced the choice of whether to set a precedent by canceling Sri Lanka’s debt.
