These representatives would do well to remind themselves that Chinese assistance and overtures are of the Trojan horse variety. Consider, for instance, the case of Sri Lanka, which under the misguided leadership of Mahinda Rajapaksa, cheered the investments being made by Chinese companies. The once easy-flowing money has pushed Sri Lanka over a financial edge, ensnaring the country in the throes of a $8 billion debt trap. Meanwhile, China has stepped up its engagement with Pakistan pledging to invest up to $57 billion by 2022, while pushing the same debt trap policy in Pakistan as well. Otherwise, interest burden is reduced by passing more project contracts to Chinese firms, further cementing China’s hold.

Source: dna May 15, 2017 02:26 UTC