World News
Home > World News
China employed 'Debt Trap Diplomacy' to gain strategic edge over SL: Think tank
TIWN
TIWN
PHOTO : TIWN
New Delhi, Jul 11 (TIWN): China employed its devious 'Debt Trap Diplomacy' to gain a strategic edge over Sri Lanka, an independent foreign policy think tank said on Saturday after Lankan Prime Minister Ranil Wickremesinghe resigned making way for an all-party cabinet to assume control of the country.
"In response to Sri Lanka's financial crisis, China employed its devious 'Debt Trap Diplomacy' to gain a strategic edge over the nation and hold its economy hostage. The port cities of Hambantota and Colombo have been leased to China for 100 years. China is now the second largest lender to Sri Lanka, holding more than 10 per cent of Sri Lanka's outstanding foreign debt in 2019," Red Lantern Analytica said in a statement.
Add your Comment
Comments (0)
More World News
- Barack and Michelle Obama endorse Kamala Harris for US President
- 2 Indian military teams plant tri-colour on Mt. Elbrus in multinational military 'Climb for Peace' event
- US senator moves bill to help India take on China
- Biden tells Americans he quit race to 'unify his party'
- Kamala Harris trumps Donald among Indian-Americans, shows Harris campaign internal poll