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Search Result for “creditor”

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OPINION

The West's stealthy assault on democracy

Brahma Chellaney, Published on 12/09/2024

» With great-power rivalries again at the centre of international relations, democratic governments have been relying on secret statecraft to shape or sway regimes in weaker states, including by supporting or aiding regime change. Far from advancing democracy globally, these efforts are exacerbating its vulnerabilities at a time when authoritarianism is on the rise.

OPINION

Of debt and bondage with Beijing

Oped, Brahma Chellaney, Published on 26/11/2022

» Recently released details of Kenya's 2014 loan agreement with China to finance a controversial railway project have once again highlighted the predatory nature of Chinese lending in developing countries. The contract not only imposed virtually all risk on the borrower (including requiring binding arbitration in China to settle any dispute), but also raised those risks to unmanageable levels (such as by setting an unusually high interest rate). With terms like that, it is no wonder some countries around the world have become ensnared in sovereignty-eroding Chinese debt traps.