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Showing 1-9 of 9 results
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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.
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The dramatic fall of the House of Rajapaksa
News, Brahma Chellaney, Published on 14/07/2022
» For much of nearly two decades, the four Rajapaksa brothers and their sons have run Sri Lanka like a family business -- and a disorderly one, at that. With their grand construction projects and spendthrift ways, they saddled Sri Lanka with unsustainable debts, driving the country into its worst economic crisis since independence. Now, the dynasty has fallen.
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Beijing's South China Sea grab
News, Brahma Chellaney, Published on 18/12/2018
» It has been just five years since China initiated its major land reclamation in the South China Sea, and the country has already shifted the territorial status quo in its favour -- without facing any international pushback. The anniversary of the start of its island building underscores the transformed geopolitics in a corridor central to the international maritime order.
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'Belt and Road' is buckling under scrutiny
News, Brahma Chellaney, Published on 01/10/2018
» On a recent official visit to China, Malaysian Prime Minister Mahathir Mohamad criticised his host country's use of major infrastructure projects -- and difficult-to-repay loans -- to assert its influence over smaller countries. While Dr Mahathir's warnings in Beijing against "a new version of colonialism" stood out for their boldness, they reflect a broader pushback against China's mercantilist trade, investment, and lending practices.
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India faces difficult choice in the Maldives
Asia focus, Brahma Chellaney, Published on 26/02/2018
» The Maldives -- that beautiful Indian Ocean country comprising more than 1,000 coral islands -- is known the world over as a tranquil and luxurious travel destination. But the country is now being roiled by a political crisis so severe that international advisories are cautioning against travel there.
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China's creditor imperialism shackles poor countries
News, Brahma Chellaney, Published on 27/12/2017
» This month, Sri Lanka, unable to pay the onerous debt to China it has accumulated, formally handed over its strategically located Hambantota port to the Asian giant. It was a major acquisition for China's Belt and Road Initiative (BRI) -- which President Xi Jinping calls the "project of the century" -- and proof of just how effective China's debt-trap diplomacy can be.
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China heads for imperial overreach
News, Brahma Chellaney, Published on 29/05/2017
» Chinese President Xi Jinping's tenure has been marked by high ambition. His vision -- the "Chinese dream" -- is to make China the world's leading power by 2049, the centenary of communist rule. But Mr Xi may be biting off more than he can chew.
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China's grand plan for its Pakistani outpost
Asia focus, Brahma Chellaney, Published on 30/05/2016
» Like a typical school bully, China is big and strong, but it doesn't have a lot of friends. Indeed, now that the country has joined with the United States to approve new international sanctions on its former vassal state North Korea, it has just one real ally left: Pakistan.
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A silk glove for China's iron fist
Asia focus, Brahma Chellaney, Published on 09/03/2015
» For years, China has sought to encircle South Asia with a "string of pearls": a network of ports connecting its eastern coast to the Middle East that would boost its strategic clout and maritime access. Not surprisingly, India and others have regarded this process with serious concern.
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