As Sri Lanka celebrates 70 years of independence from British imperial rule, some fear the nation now faces a new form of colonialism. It is one of the world’s best natural harbors, nearly 10 times the size of Colombo’s port. If Sri Lanka is unable to make its payments, it will have to enter renegotiations with its creditors, including China. But in too many cases, the political temptation to embark on new projects has blinded Sri Lanka’s leaders to economic risks. Sri Lanka’s experience demonstrates that Asia’s infrastructure contest carries both great rewards and great risks.

Source: Sunday Times February 06, 2018 03:11 UTC