
For the past few years, the US has accused China of making developing countries more dependent on China through debt diplomacy. Over the past decade, China has become the world's largest government creditor. Chinese state-owned banks have in recent years given more loans to developing countries than the International Monetary Fund or the World Bank. But Beijing has been criticized around the world over the terms and ambiguity of the Chinese debt.
Sri Lanka asked for China's help but no answer yet
Even after seeing the economy of Sri Lanka and Pakistan, China seems to be avoiding helping these countries. China has not released a loan of $ 4 billion to Pakistan so far. Sri Lanka has asked China for $ 2.5 billion in aid but Beijing has not responded to this either. However, Sri Lanka's top diplomat in Beijing has said that he is sure that aid from China will come through loans.
Are Pakistan and Sri Lanka domestic political reasons?
Although China has assured help to both the countries, the Xi Jinping government is hesitant because of the sluggish working of the Belt and Road Initiative in these countries and the domestic political situation. In Pakistan, Imran Khan has to resign and in Sri Lanka, the common people are protesting strongly for the removal of President Gotabaya Rajapaksa, so China is on alert.
China has suffered a big loss due to Kovid
Speaking to Bloomberg, world affairs expert Raffaello Pantucci says that Beijing has been rethinking its debt policy for the past few years. Chinese banks realized that countries that were borrowing more than them had limited opportunities to repay their loans. Along with this, since Kovid, China needed to spend more on its home. In such a situation, China has stopped giving money to other countries. China is suffering a lot due to the closure of tech and financial centers like Shanghai and Shenzhen. People watching China's economy believe that China's development target of 5.5 is now in danger.
Why would China want to ride a sinking ship?
Matthew Minge, who has researched Chinese economic diplomacy, has said that it will be difficult for China to easily accept Sri Lanka's requests. The credit situation in China is not making things easy for them. After all, Sri Lanka needs the IMF. But the truth is that the IMF is also moving very slowly in the case of countries like Sri Lanka and Pakistan. Do experts say that why would any institution or country want to ride a sinking ship?
Tesla CEO Elon Musk has become the new owner of the social networking site Twitter. After the acq
Maharashtra Political Crisis: The politics of Maharashtra is standing at a new juncture today. Th
Terror Funding: SIA raids Bathindi in terror funding case, suspected to be linked to Jamaat-e-Islami
The State Investigation Agency (SIA) of Jammu and Kashmir on Wednesday conducted raids in Bathind
England was the champion of the 2022 T20 World Cup. The cricketing world saw how the team led by
After becoming the Prime Minister for the third consecutive time, Narendra Modi will reach his pa
Like every time, this time also in the climate change conference, the rich countries have tried t
Gun Firing In USA: America shaken by back to back firing incidents, 11 including 2 students killed
Firing in America: Once again incidents of firing have come to the fore in America. There have be
South superstar Thalapathy Vijay has turned 48 today. Vijay is a superstar in the South film indu
Pakistan Turkey Relief Fund: Pakistan is helping Turkey, 50% salary of Balochistan officials cut
In Turkey and Syria, there was an earthquake of 7.8 magnitudes in the past. The tremors of this e
Congress President Mallikarjun Kharge has claimed that the government will be formed under the le