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China’s Belt And Road: A Debt Trap For Sri Lanka? | CNA Correspondent

Sri Lanka borrowed billions of dollars from China to finance roads, ports and airports under Beijing’s Belt and Road Initiative. These were meant to boost trade and economic development. But in 2022, the country experienced its worst economic crisis since independence, and some critics argue it was exacerbated by China’s so-called ‘debt trap diplomacy’, even though the root cause was long-term economic mismanagement. This led Sri Lanka to be dubbed a poster child for the ‘Chinese debt trap’ narrative. But is that really the case? In the second part of our special series on the 10th anniversary of China’s Belt and Road Initiative (BRI), we take a closer look at whether Beijing’s loans played a part in Sri Lanka’s economic calamity, and the way forward for the country. 00:00 Introduction 01:05 Sri Lanka's economic crisis 09:47 Expensive infrastructure "white elephants"? 17:14 Importance of Sri Lanka to China's BRI 19:57 China's investment significant to Sri Lanka More from CNA Correspondent:    • CNA Correspondent   ================= About CNA Correspondent: Highlights of news stories and features by CNA's network of Correspondents based in major cities across the region. ================= #CNAInsider #CNACorrespondent #SriLanka #BeltAndRoad #China For more, SUBSCRIBE to CNA INSIDER https://cna.asia/insideryoutubesub Follow CNA INSIDER on: Instagram:   / cnainsider   Facebook:   / cnainsider   Website: https://cna.asia/cnainsider