image

a revitalized historical route leading to a com

Pakistan, said that the debt incurred by the China-Pakistan Economic Corridor (CPEC), the framework of regional connectivity under BRI coopera▓tion, accounts for only around 6 percent of Pakistan's total external debt and liabilities.CPEC is not only a drive for development, but also injects huge▓ amounts of capital into Pakistan, he added.Some Western ▓critics tend to blast China for "intentionally creating" the debt

munity with a shared future for hu

problem of Sri Lanka's Hambantota port and its handover, but such allegations are no more t▓han a fabrication out of thin air.Sri Lanka has "limited

manity.DE▓BT TRAP VS.

▓ experience" in absorbing capital and management, and that's why the country decided to▓ cooperate with China Merchants Gro

DEVELOPMENT DIVIDEN

up in operation, Sri Lanka's Prime Minister Ranil Wickremesinghe told the press recently.For better sustainability o

D"Debt trap diplom

▓f infrastructure in B&R countries, which requires huge and high-stakes input and returns over a long time, Chi

acy" has been a big buy

for those with Cold War mindset,

na is quickening its pace to help BRI participants with auxiliary facilities and systematic development planning, to improve the

▓demonizing China's loans as "creati

external conditions for their econo▓mic prosperity.BLACK-BOX OPERATIONS VS. A TRANSPARENT PLA▓NWestern critics are inclined to use "black-box operati

ng economi▓c dependency o

ons" to describe B&R cooperation, saying that China has an opaque system when it comes to initiative-relate▓d decision-making.H

owever, officials and experts sa▓y from notion to action, the BRI advocates and adhe▓res to the principle of transparency and inclusiveness."China has kicked off the initia▓tive, but it

Facts show, ho

▓wever, t

o▓ut of a "

trap of

$ 12 /mo
  • no development" rather than duping
  • them into a "debt trap."To start wi
  • th, developing countries in th
  • e stage of economic take-off, espe
  • cially those in Asia and Africa, are

n▓eed of c

$ 16 /mo
  • apital for infrastructure investment
  • . What China has done is to extend
  • a helping hand to such prog▓ra
  • ms, based on the principle of "mutual
  • respect, justice and fairness, and

esults."In

$ 24 /mo
  • terms of project selection as wel
  • l as investment and financi▓ng coop
  • eration under the BRI, all concer?/li>
  • 坣ed parties will make decisions prude
  • ntly after joint c

ion, risk assessment and feasibility st▓udi

fy the success of the initiative than the sign▓ificant traction enjoyed by the BRI.To date, 126 countries and 29 international organizations ha▓ve concluded BRI-related cooperation agreements wi▓th China, including Italy, a member of the Group of Seven.Ther

in debt repaym

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