Is china spreading 'slavery' and not 'friendship' by giving loans? This question has now started resonating at the global level. Many countries of the world are groaning under the burden of Chinese debt, three of them are India's neighbors. China gave billions of dollars in loans to many countries under its Belt and Road Initiative (BRI), but now the same debt has become a noose of economic slavery for these nations. Some countries even had to hand over their ports, while the politics of some nations was shaken.
Pakistan: A haven for terrorism drowning in waves of debt
Pakistan is at the top of this list. china alone accounts for 23% of its total foreign debt. Under BRI, china invested billions of dollars in CPEC. But now Pakistan's condition is such that it is neither fully capable nor independent to repay the loan. CPEC has now become a burden, not an opportunity.
Djibouti: Big slavery of a small country
Djibouti, a small African country, was so burdened by China's port projects and debt that it had to hand over a port to china, which is now being used by the Chinese military. In the name of debt, china has stationed its army here.
Sri Lanka: From Hambantota to political earthquake
Sri Lanka has been declared financially bankrupt due to Chinese debt. After this, the Hambantota port had to be given to China on a 99-year lease. The political crisis in the country deepened so much that the Rajapaksa government had to lose power.
Maldives: China's strategy in the indian Ocean
China's influence on Maldives has increased rapidly. The loan received in the name of infrastructure made the country an economic hostage of China. Through this, china is trying to surround india from all sides.
Laos: Projects gone, debts remain
China invested in hydropower and transport projects in laos, but the country could not manage them. Now the situation is such that Laos has handed over many projects to China and yet the debt is not getting over.
Mongolia: Debt in exchange for minerals
China has its eyes on Mongolia's mineral resources. Under the guise of investment and loans, china has made deep inroads here. Now the country does not even have the strength to protect its assets.
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