China’s ‘Debt Diplomacy’ Is a Misnomer. Call It ‘Crony Diplomacy.’

 

That’s not an unfair thing to call it, and China is not the first country to employ it.

(From The Diplomat)

Some small countries “take on loans like it’s a drug addiction and then get trapped in debt servitude,” opined the influential Indian strategist Brahma Chellaney. …” Through debt diplomacy, China exerts bilateral influence by bankrupting partner nations with unsustainable debt and then demanding steep concessions as part of the debt relief – or so the thinking goes.

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