Debt trap and belt road initiative.
Debt trap and belt road initiative. In last decade China has got a strong grip on Indian ocean by investing billions of dollars to build Port facilities and maritime trade routes as part of belt and road initiative. To basically help china boost their economy and also make export easier for themselves. Many poor countries fell in this trap by china and now we see them suffer for example Pakistan cannot put lockdown during corona pandemic. Here are 5 countries who got trapped in Chinese debt. Sri Lanka In 2010 Sri Lanka got loan of about 8 billion dollars from china to build port of hambantota and other developments. Looks like a great help from China but this port has no traffic and without any traffic it is impossible for Sri Lanka to pay back this huge amount so they were forced to give up the port to china for 99 years lease. And now china has decided to use this port for Chinese military purposes from where china can easily attack India from sout