Both Pakistan and Sri Lanka are victims of the Chinese debt trap

New Delhi, Apr 04: Both Pakistan and Sri Lanka have plunged into a crisis and the blame lies entirely on the Chinese debt.

The situation in these two countries has now forced nations like Maldives, Bangladesh and Nepal to think again on the Chinese infrastructure and also being part of the BRI initiative.

In Sri Lanka the blame clearly lies on Rajapaksa who began leaning towards the Chinese heavily much to the displeasure of India. The nation brought upon itself immense economic stress by taking high interest loans from China in the name of developing infrastructure.

Pakistan on the other hand has more than 10 per cent of its debt owed to China. Imran Khan has been blamed squarely for the economic mess the country is in today. Due to this high value debts the country has not only fallen economically, buy has also plunged into political crisis. Khan is making matters worse by whipping up public sentiments and blaming the situation on a foreign conspiracy against him and his government.

Both Pakistan and Sri Lanka face complex situations as the US has a great amount of control on the global financial institutions. This would make it harder for the two nations as they have shifted their loyalties to China.