CHINA-INDIA: CPEC

An article by Xiao Xin, a reporter with Global Times on May 3, 2017, criticised a recent article in the Economic Times which claimed that "the "One Belt and One Road" initiative, which aims to facilitate joint prosperity across the countries and regions along the route, was presented as offering benefits only to China while setting a trap for countries in South Asia. Sri Lanka and Pakistan, in particular, were billed as two obtuse nations that have fallen into a huge debt trap as they were purportedly burdened with heavy loans from Chinese lenders asking for high interest rates". Asserting that "the article only hints at India's excessive nervousness about China's rising clout in the Indian Ocean", it said "it's truly ridiculous to assume that its two neighbors Sri Lanka and Pakistan would be so naïve that they would prefer unbearably hefty loans from China to more affordable loans from the World Bank and the Asian Development Bank or India's Line of Credit." It said "Rather than fanning skepticism toward China, India should seek to build joint strength across the region".

 








Subscribe to Newswire | Site Map | Email Us
Centre for China Analysis and Strategy, A-50, Second Floor, Vasant Vihar, New Delhi-110057
Tel: 011 41017353
Email: office@ccasindia.org