Sri Lanka’s Troubles Raise Questions for China

Chaos and failure in Sri Lanka signal problems throughout the developing world that will make trouble for China. Loan losses in Sri Lanka and elsewhere will of course add to China’s increasingly severe debt overhang. Further, events in Sri Lanka will raise questions among others about participating in Beijing’s vaunted Belt and Road Initiative (BRI) and in so doing, will interfere with Beijing’s global plans.
Sri Lanka is, of course, an extreme case. It seems to have suffered a perfect storm. Yet, if problems are less severe elsewhere, all the elements of Sri Lanka’s disaster exist throughout the developing world….

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