How China is under-developing Asia: The Case of Sri Lanka – Debt Trap and Dependency
South Asia is looking for a regional hegemon. But this regional hegemon comes in the form of angel disguised as devil. China is the largest creditor in Asia and Africa. This credit goes in the name of investment for the infrastructure of the country and to be a part of its project- The Belt and Road Initiative. China extends its influence via financial aid and soft power to these countries, and slowly they become heavily indebted to China. This paper will underline China’s debt trap policy with reference to SriLanka’s economic crisis, showing how the Third World is caught between the neo-colonial agendas of the west and the clever policies of China. It will also raise the question of why China’s Belt and Road Initiative has not even started yet? Is it because China’s investing in the wrong plans, projects, and countries?
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