Is Sri Lanka a victim of Chinese 'debt traps'? - BBC Newsnight

Sri Lanka's economic crisis continues to run out of control and the country is requesting an emergency bailout from the International Monetary Fund.
However, the major debts the country has racked up in borrowing from China are standing in the way of a bailout being agreed.
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Chinese money has flooded into many developing countries over the past few years but some claim that these loans are designed as 'debt traps'.
It's claimed that if a country can't repay then China is entitled to seize critical infrastructure such as ports and thereby strengthen it's global influence.
Others suggest that China is not in fact exploiting developing nations but their investment may facilitate more local level corruption.
Newsnight's economics editor Ben Chu went to Sri Lanka to investigate the impact of Chinese money and what implications this may have for the global cost of living crisis.
The film was produced by Scarlett Barter and filmed/ edited by Jack Garland. Production support was provided by Zaufaran Mohamed.
Newsnight is the BBC's flagship news and current affairs TV programme - with analysis, debate, exclusives, and robust interviews.
Website: www.bbc.co.uk/...
Twitter: / bbcnewsnight
Facebook: / bbcnewsnight .
#BBCNews

[@sumikamal8898]

If the Sri Lankan politicians and their cronies hadn't stolen such incredible amounts of money, there would be no need for Chinese loans, help, exploitation etc. Greed and corruption are the root cause of poor peoples woes across the globe.

[@LawrenceWong]

Greed and corruption by the Imperial Portuguese, Dutch, British empires for centuries.

[@vladnickul]

Chinese help :)))))). they accepted it because they are corrupt and I will say DAMN STUPID.

[@zeldaharris6876]

And their high birth rate. Why does no one mention population, it is the elephant in the room. Imagine if the population was half of what it is - I bet they would be much better off.

[@vladnickul]

@@zeldaharris6876 Go away thanos, you are drunk.

[@AbuSous2000PR]

are u implying to predatory lending doesn't trap nations? it doesn't promote corruption? dude..wake up... that happens all over the world

[@dumbfrog123]

Sri Lanka Foreign debt breakdown: Asian Development Bank 13%, China 10%, Japan 10%, World Bank 9%, India 2%, Market Borrowing 47%, Others 9%.

[@hy54321]

The portion of market borrowing,world bank and others equal to 65% , more than half, who is the largest creditor?

[@Albion80s]

kzbin.info/www/bejne/i2aVpYdrncynic0

[@DipJyotiDeka]

@@hy54321 Some are creditors some are aggressors.

[@marcusjohn6654]

But that doesn't fit Western Histeria, and agenda.

[@cadriftr990]

@@hy54321 the FED.

[@Big_Blue_Monkey]

No one forced the Sri Lankan government to take out these loans. It's a case of poor management, the Chinese debt is a fraction of what the country owes. The government went into this eyes wide open, they knew the terms and still accepted them. It's no one else's fault except Sri Lanka's.

[@jadhavnitin992000]

Why is Chinese loan intrest so high? Because its easy to get it compared to IMF or world bank, also it needs to be as such as it cant be repaid. why is it necessary that a Chinese State company needs to be hired to complete a said project? So that the money taken by the country goes back to china Why is it a clause to lease the property to China, and not some other means ? So that slowly they can set up a naval base, same reason why today chinese submariens are at Gwadar port , Pakistan

[@ursodermatt8809]

nobody forced the chinese to lend money. they knew exactly what they were doing.

[@pipiqiqi4010]

@@jadhavnitin992000 From my respective, even if there are default for the payment of Chinese debt, but the infrastructure will be existed in Sri lanka for the improvement of local people forever. then there is a question for other 90% debts, had they help Sri lanka to improve the wellbeing of locals, if they helped, then why the life of local not improved during last decade? And the money just as ash, no anything left after they spent.

[@ricvibesinc1]

its the perfect case of sri lankas nationalist instincts esp amongst the majority who have been pushing an agenda of sinhalese buddhist just like in india the present government pushed a hindu indian agenda .. ' am afraid you only accommodate corrupt in ego centric individuals to the powere positions & then to impress the ideots who vote en masse .. they naturally have to show off with these huge projects with the idea of them & theirs being in power like forever expecting some sort of hero worship in zero's .. ' aigh ..

[@edlubitz2968]

a whole country suffers so a few ppl can get filthy rich, Jason your an idiot and should take a college course or something, just to get the shit out from between the ears.

[@mohamedmaaniu5588]

Yes, Sri Lanka was also a victim of British Colonial aggression

[@onetime8111]

Agreed

[@mubashirmulaffer6053]

At least srilanka was better off then

[@alonzomosley7]

Hey cut the British colonials some slack you got tea 😀

[@mohamedmaaniu5588]

@CHAOS but in other South Asian countries it's a different story regarding the British Colonial Aggression such as in Maldives and India and so now Pakistan and Bangladesh and they looted much of India especially West Bengal!!

[@zerbutterftw]

Oh stfu the British has nothing to do with the stuff that is happening in my country

[@souka720]

80% of Sri Lanka foreign debts come from the West. But yeah, blame China

[@bowlampar]

BBC usual style. Only when creditor is UK, then it is Sri Lanka fault. 😁🤣😁

[@maheshthakur3741]

But no western country has taken away territory of Sri Lanka or behaved in devious way like China , not entered in non viable loaning projects line China Not done with kick backs & corruptions Like China THAT IS BIG AND ONLY DIFFERENCE VIS A VIS CHINA & WESTERN DEMOCRACY

[@hasanjamalkhan689]

@@maheshthakur3741 you got manuplated

[@xinceras-6542]

The West isn't trying to build military bases on Sri Lanka for a future war with India. China is.

[@123100ozzy]

debt is not the issue, small brain.

[@rajk2169]

About 45% of Sri-Lanka’s foreign debt is owed to international investors via sovereign bonds. These carry far higher interest rates than China’s loan. China’s share of Sri-Lanka’s foreign debt is estimated to be around 12%. Japan’s share of Sri-Lanka’s debt is 10%. Blaming China for the incompetence of the Sri-Lankan regime is silly! Sri-Lanka has asked the IMF for bailout 16 times in the last 52 years. This shows that Sri-Lanka has been an economic basket case for the last 50 plus years. China did not force the Rajapaksa brothers to borrow and build vanity projects in Hambantota, such as an airport, a port, a cricket stadium and a conference center! Check the report by the UK’s Chatham house on Hambantota Port: Debunking the Myth of Debt-trap Diplomacy. All the problems of Sri-Lanka are made in Colombo, not in Beijing!

[@ursodermatt8809]

yeah, but china's loans are on things that are absolutely dead.

[@blardymunggas6884]

SL has long been in crisis because of IMF loan and the long war to kick out the rebels from india that wanted to steal their land. Without China’s help, SL would have long collapsed. Clearly BBC has given up hope on Ukraine’s narrative because the Russians are winning. Now BBC wants to shift and create a new conflict with China. The world isn’t stupid. We know how BBC works

[@blardymunggas6884]

@@ursodermatt8809 China’s investment is the only thing that is making money in SL.

[@ursodermatt8809]

@@blardymunggas6884 yeah sure pigs will fly

[@ursodermatt8809]

@@blardymunggas6884 we know how the chinese bots work and you are one of them. unmistakably.

[@linustw]

why western media always played up china ambition of expanding their influences and obtained strategic locations in the region and they never touch on how US and their UK alliances (Aus NZL) placing their strategic armouring around the region?

[@sko1beer]

Only western people have the right to this planets resources and if you don’t need to rely on them you have got to be evil and bad

[@言甚泰迪罗斯福]

Because they are jealous and are not happy to see an Asian country become the biggest superpower.

[@chechnya]

Because China is cancer

[@imadeanaccounttocomment7800]

Because they are the world police and you have to accept it if you are not a “commie”

[@Bigsmallcountry]

The West will not help those who cannot benefit them. If Sri Lanka has oil, it will be a different story.

[@kevinclasher3160]

Considering Sri Lanka’s debt to China is only 10%, why are they pushing China for a solution, shouldn’t they be concentrating on the the other 90% of debt?

[@lynef]

Well look who's waking up! Because the remaining 90% comes from the West 😉

[@Gitami]

China's debt has 3.3% interest rate repayable in 18 years versus Japan's 0.7% in 34 years or India's 24 years. China's share puts great stress on the country's finances.

[@user-ks3vs9cm6y]

@@Gitami source?

[@encabsss]

Another 10% coming from Japan as well!

[@beejar9737]

@@user-ks3vs9cm6y don't you have Google?

[@g.2080]

China owns 10-15percent of the debt. It’s not their debt trap it’s the IMF and western companies

[@jetli740]

8%

[@axellfonz]

I don't understand the concept of a "debt trap". If Sri Lanka agreed to take loans from China, it means that they also agreed with the given terms and conditions. How can it be a trap if they're completely aware of it and knows what they're dealing with?

[@stebopign]

the officials who sign the contract have no choice but to sign them. to agree to crazy interest rates. for every 100 they borrow, 60 goes to the infrastructure, and 40 goes to the official's pockets. apart from that, they can only use the money they borrow to get chinese companies to build it for them.

[@Ryanlexz]

The irony that Sri Lankan now will be on IMF debt( western run organization) 😂😂

[@StevenPhD4]

Western propaganda

[@ccie4101]

@@StevenPhD4 CCP Wumao

[@ccie4101]

@@rm83689 Go collect your 50 cents from the CCP, you will definitely need that money

[@huatlam8752]

So many brainless people commenting on BBC sensationalised news. Lets be serious - total Chinese debt equals less than 10% of total Sri Lankan debt. A fraction of debt does not bring down a country. However, India, Japan, US, World Bank and IMF contribute more than 70% of total debt. These are western countries with institutions such as World Bank and IMF controlled by the West. If their lending practices are so pure and practical, Sri Lanka would not be in this situation This look more like Western aligned debt trap to me!

[@thorc4167]

Did you even understand what the video was about? Each loan comes with conditions.

[@egegeggegeeg4789]

@@thorc4167 yes, thats the logic behind a loan?

[@nanhinting7447]

It's another one of the plans to sabotage China's BRI initiatives. If the BRI succeeds, the US and the West will lose a lot of their market shares in terms of economy and influence. Sri Lanka is just one of the victims of the Covid pandemic.

[@breastmilkgaming]

Srilanka with 'western loans' was about to become the S. Korea of Southern Asia. Once the Chinese loans started to come in it increased corruption and now the country is bankrupt. What does it say about china?

[@Kds140]

@@egegeggegeeg4789 and do you know conditions behind loans? I can't say about other countries. But as an indian i can say about mine 1) we have agreed to delay payments of loan many times if they are unable to pay. 2.) We are giving AID to them to control condition without expecting anything back while china is offering more loan to repay that loan again. And has cut off almost all things 3.) China has already taken their ports for 99 years or something because they were unable to pay. 4.)China gives loan on high rates. Sent their companies for building infrastructure. So money goes back into china. No job creation. Any delay in project by either china or country make it more costly and eventually small countries are not able to repay it. And got bankrupt. While it's not case of other countries because those loans by other countries are mainly based on to improve economy, jobs while China's loan to improve infrastructure by Chinese company so that job creation for themselves then waiting for any delay costing them high price and then take it that developed place for leese. And if you don't beleive wait for sometime. Many countries are going to add in this list

[@yasinwaghat6096]

Not saying a debt trap strategy doesn't exist (which it may do). For Sri Lanka, they have just had incompetent corrupt leaders for so many years, this has been the downfall.

[@jiminauburn5073]

That is why China does business with these leaders, in these countries. They bribe the leaders, pay for some projects, and they then gain control over things.

[@breastmilkgaming]

don't worry Pakistan's fall will confirm the debt tap theory

[@Tao_Tology]

" (which it may do) " No.......it definitely does and beijing does indeed use them.

[@crystarclear]

Philippines can prove and disprove the debt trap theory as well. Pretty much on their way to downfall with electing a known corrupt president plus choosing to suck up to China.

[@buttofthejoke]

Having corrupt leaders is an even bigger asset for China. Things only get worse after that. Look at Africa. The corrupt leaders are billionaires, and the rest of the country is further pushed into poverty, while China can take whatever resource they want for cheap.

[@Giles20]

This is ridiculous, Sri Lanka has more debt to the IMF and Japan. This whole Chinese debt trap diplomacy thing is pure propaganda

[@derunfassbarebielecki]

You clearly have no clue how debt traps work.

[@dannychong7842]

BIDEN COLUSION WITH CHINA Taiwan don't belong to anyone but the people living there. How a country were formed because the people come together for the same objective or how China were once formed by unification of 8 Kingdom. You cannot say Taiwan belong to China anymore, if the people don't share the same mentality and been to war. War can unify a country or how 8 Kingdom defeated and park under the rules of emperor. So do, how civil war seperate a country since the people don't share the same objective anymore. China not allowed to keep instigating war till the day, they take back Taiwan after they fail to conquer the island in the 50's, during Taiwan war. How many war, do China want to fight before could decide Taiwan fate? And Dajjal don't want to know, what kind of agreement signed by Biden or collision with China, till the weapon deal onhold. Cos that also mean US don't have a reason to go against China, in view of Taiwan. So China can keep oppressing Taiwan, till the day, the island park back under the mainland, by provoking war. Remember what said by Dajjal or don't blame anyone, if one day you regret forever, ever have a life as human (Other refer to the topic about meaning of love in my video since 8th Feeling is a science theory in book of life and don't forget Alan Walker cos Dajjal did not come alone) 3tutijutuo

[@TheGamerHenstrike]

The IMFs loans are for industry and economic development, not ports in areas incapable of using them properly, airports too far from population centers, etc

[@roxiewang8943]

it’s exigent to ask BBC for facts. It should be known that they are propaganda machine for the British government.

[@roxiewang8943]

@@TheGamerHenstrike Transportation counts,for future.

[@musthacool4449]

It’s not Always about Chinese debt trap but about Corrupted politicians in the Sri Lanka led to a bankrupt nation

[@Ryanlexz]

The irony that Sri Lankan now will be on IMF debt( western run organization) 😂😂

[@OsamaSaeed972]

This kind of reporting would be more powerful if the BBC spent a proportionate amount of effort examining its own country’s global economic influence over the years. Even in this report, IMF money is presented an neutral, but only Chinese money worthy of examination for its intent and effect.

[@franciscruickshank8794]

not many folk beleive bbc/mi6 now! a lot of fake news, look at the corruption at the english conservative party!

[@koneko6225]

It's ok when we do it.

[@deparado543]

That’s because the interest rate is super high, short terms, collateral . IMF and other agencies have a 1 to 2 % rate with a longer term and they look at the viability of the projects they finance . On the other side it’s just encouraging corruption

[@Thinkofwhat]

Real debt trap: Sri Lanka owes vast majority to West, not China. kzbin.info/www/bejne/i2aVpYdrncynic0

[@billy1276]

Sri Lanka owes more money to the IMF than they do China. The IMF forces countries to use the money up instantly on western/US companies basically. At least the Chinese puts it towards infrastructure that's gonna last them for generations. The IMF forces countries to build a dependency on the west

[@nilslarson7532]

no way. been living and working there for years. very corrupt and very tricky place, nothing is what it seems to be. ruling business class are gangsters beyond anything i had ever seen. sky high myrder rate.

[@balung]

Yeah, its a shit country.

[@darmaester9889]

I think we cannot blame China, it is better to improve the loan strategy of Srilangka itself.

[@hlaks1207]

We cannot bcos we won the war becos we used Chinese weapons? We lost many young soldiers to prevent land being conqured by outsiders but now we sell land back to the Chinese when we cannot pay our loans. Why why did we ever want to win the war? For this to happen? I blame you sir. I blame you for voting for the Big Family.

[@yuanlaixianzai3243]

you should blame the other 90% loans coming from US/JAPAN/IMF via sovereign bonds which are much expensive than the loans from CHINA.

[@hugo9678]

Me laughing 3 weeks later lol

[@bowlampar]

Not we, only BBC! 😁🤣😁

[@12vtbfx37]

12% of the debt is from China, 38% is from the West BBC: Is Sri Lanka a victim of Chinese 'debt traps'? how prejudiced you are?

[@ahmadin5681]

😀😀 typically "mainstream western media"

[@schoolofgrowthhacking]

Source??

[@WhatHappenedIn-vt3vq]

I wonder if the size of the debt correlates to the nature of the loan, how much more were willing to give, and how essential they are to keeping the country running? I don't think it's prejudice, I think it's we shouldn't have been giving Sri Lanka loans before we can get a signature that it will move money to where it's needed instead of where a 1% turns the highest profit. I'm not seeing Sri Lanka losing land to the U.S, and as China knows we're far from efficient with our money requiring much more yield for everyone to maintain their quality of life

[@sko1beer]

The British government no longer sees it as racist to make up stuff about China.

[@TheStedomi]

@@schoolofgrowthhacking lol, really? Also 12% of their debts comes from japan. You dont know how google works? Do you own little basic research.

[@MN-fe1vz]

95% of the US adults have to paid car loan, home loan, student loan, rent plus all kind of insurance every month. Don't we have a "debt trap" also. Can we blame the bank for that?

[@boneboy9246]

As a sri lankan china didnt trap sri lanka in a debt trap, im not defending china or anything but you have to ask money to give money and we can only blame mahinda rajapaksa for that not china.

[@bowlampar]

For BBC , Debtor is always right, can't blame on debtor.😁😂😁 Unless of course the creditor is UK.

[@ScoobyDoo-zp1sq]

If the west cared so much, why not forgive Sri Lankas debt? Afterall, they own 90% of it...

[@ursodermatt8809]

yes, can you send me some of your money? i really need it.

[@ShahidKhan-dd5pf]

According to BBC, yes. But in reality, China owns less than 10% of total Sri Lankan debt, the rest is owned by IMF, World Bank and Japan.

[@StreetDrilla]

the IMF itself is made up on 2 countries, Japan and America

[@fxtradeleaders4375]

imf world bank dominate with deferent mind set. China do so yes

[@xchen3079]

But do imf, world bank and Japan grasp any lands or ports when their loans can't be paid?

[@theoneeyedwoodsman4726]

@@xchen3079 i know the IMF restructures economies and often presses for market access for western interests

[@xchen3079]

@@theoneeyedwoodsman4726 This is their standard policy that restructure the economy to healthy so that these countries can solve their difficulties and pay back their loans or part eventually The West interests? Yes. And it is also the best interests of the poor countries!

[@supercatgamer5335]

To blame the lender(in this case China) for countries miss-management of money is hilarious....The main problem has to be government corruption and the need of systemic reform. I worked with many Tamil(and some Sinhalese) people in the past that were hard working and good people...

[@professionalpussypetter2929]

china funded many failed white elephant projects all over the world. Unlike western investment which is not only more efficient and profitable the chinese gave loan to the betterment of the country but for the ego of a corrupt leader like Rajapaksa. Blaming china for sri lanka's problem is perfectly reasonable.

[@kylesmith8128]

While I agree to a certain extent, it was fairly obvious that deals were made with corrupt Sri Lankan leaders and it is widely assumed that the Chinese lenders will end up controlling large areas of Sri Lanka (especially their ports and airports) after the government defaults. This is all going according to plan, except that COVID supply disruptions followed by Ukraine made it happen much faster and more dangerously than was expected.

[@jiminauburn5073]

Who do you think paid giant bribes to those leaders?

[@StreetDrilla]

every single country in the 3rd world (so maybe 130-140 countries) if offered money would take it. If China wanted to do debt trap, they knew that politcians. Now i dont really believe in the chinese debt trap story, but expecting the government to utilise the money for efficient use is laughable.

[@sarathw5740]

The lender has a responsibility to make sure that the borrower is sound.

[@35Canadian]

percentage of Sri lankan debit: West contries: 47%, Asian development bank: 13%, Japan: 10%, China: 10%, World bank: 9%, India: 2%, Others 9%. All the contries should cut or extend the payback for the debits.

[@dumbfrog123]

We posted the same info. LOL

[@catherine4077]

No,no,no, that 10% is the main controller. Typical BBC news for you .

[@petercn8989]

Asian development bank is also mainly own by Japan and USA. West alliance total combined of 70% of Sri Lanka debts, Now who is setting up debt trap now? typical west, in reality it’s always them behind the scene, because them own 90% of main stream medias, them pinned blame on other countries.

[@mylet2658]

@@petercn8989 China employs main land Chinese to construct the projects and they get to take over the port when they don’t pay. They knew they couldn’t pay it back when they made the loan. You think China does this for free ???

[@petercn8989]

​@@mylet2658 Them only hire technicians from mainland,rest are the local worker, China loan is tangible, local can see it , touch it , feel it and benefits from it. In the long run them will need it anyway. Plus the port is leased to China, it sovereignty still belong to to Sri Lanka, them still have power over it. Anybody with this money can purchase more land and leased for much longer times. China is actually being kind in this scenario. At the end of day Sri Lanka get a advance port back for free. And all it offer is a empty waste land, without China that empty land return empty. What do people expect from China , erase debts for free? Isnt bank take over your house if you can paid you mortgage? But China didn’t take over , them lease it, it’s like you mortgage second house and said you can’t pay it, and the bank said no problem, we borrow it, you sit back, relax, decade later get a free house, without spending a dime. While on other side loan from west, majority disappeared into thin air or someone’s pocket, leaving people to carry on the debts, the interest just snowballing, the whole country basically working for the creditors. FYI west owned 50 to 70% of debts, while China merely 10%. facts.

[@aywee5380]

Thank you for the report. 8% of the total debt can be called a debt trap by the west. Surprise that IMF looking at the 8% instead of the 92 %. Something is wrong with mathematics taught in the West today. IMF needs to send their decision maker to India to learn Mathematics.

[@kendrick6740]

@FoulPrinceRomero that’s because China is the only country willing and able to lend them that in the first place. If the West is so concerned about a third-world county borrowing heavily from China then why don’t they step in and do something about it, instead of just expecting a country to sit there and let themselves run out of money because someone else doesn’t like it.

[@9justify]

West wants sri lanka to starve

[@aywee5380]

@FoulPrinceRomero 8 % is the biggest lender and that is debt trap. 92 % balance is what ? Get your mathematics correct please.

[@gracewu4345]

@FoulPrince, % of Sri lankan debit: West contries: 47%, Asian development bank: 13%, Japan: 10%, China: 10%, World bank: 9%, India: 2%, Others 9%.

[@ktan6738]

Nope. China debts is only minority of sri lanka debts. In fact west hold much more sl debts

[@ursodermatt8809]

yes, blame the english. it is their fault!

[@ck-bs2ms]

@@ursodermatt8809 of course they will not blame themselves, they don't want to dirty there image so they will just blame china... greedy west

[@johnathanflores7750]

@@ursodermatt8809 British, American and German banks together hold like 53% of Sri Lanka's debt.

[@ursodermatt8809]

@@johnathanflores7750 I am not sure your numbers are correct. It is not even sure what China lent Sri Lanka

[@winterrising8738]

propoganda, imf owns 90% of the debt, more scapegoating

[@doha3257]

But at least IMF doesn't demand Sri Lanka to lend their port for 99 years because of debt.

[@dannychong7842]

BIDEN COLUSION WITH CHINA Taiwan don't belong to anyone but the people living there. How a country were formed because the people come together for the same objective or how China were once formed by unification of 8 Kingdom. You cannot say Taiwan belong to China anymore, if the people don't share the same mentality and been to war. War can unify a country or how 8 Kingdom defeated and park under the rules of emperor. So do, how civil war seperate a country since the people don't share the same objective anymore. China not allowed to keep instigating war till the day, they take back Taiwan after they fail to conquer the island in the 50's, during Taiwan war. How many war, do China want to fight before could decide Taiwan fate? And Dajjal don't want to know, what kind of agreement signed by Biden or collision with China, till the weapon deal onhold. Cos that also mean US don't have a reason to go against China, in view of Taiwan. So China can keep oppressing Taiwan, till the day, the island park back under the mainland, by provoking war. Remember what said by Dajjal or don't blame anyone, if one day you regret forever, ever have a life as human (Other refer to the topic about meaning of love in my video since 8th Feeling is a science theory in book of life and don't forget Alan Walker cos Dajjal did not come alone) 3tutijutuo

[@darfri]

@@doha3257 China also wants you to repay the money, but you don't have the money.

[@123-h5i5y]

The Sri Lanka Govt already admitted their debt problem is due to that owed to the IMF and not to China. China's debt forms only 10% of its foreign debt. Its disingenuous for BBC to yet again do another China bashing story with that headline when it never has been so.

[@SelfProclaimedEmperor]

The IMF didn't steal a Sri Lankan port, China did.

[@123-h5i5y]

@@SelfProclaimedEmperorMany countries borrow from China but news channel like this always spotlight on a failed one particularly when China has a link. You obviously do not kmow now wtf you are talking about, just parroting the same craps from these biased news sources.. Besides, that port wasn't stolen.

[@user-hs4qv3nk3h]

@@SelfProclaimedEmperor Could it be that China moved the port directly to China? Isn’t this port still in Sri Lanka? Sri Lanka has no ability to develop itself. China helps development and promotes the economy, and China is not obliged to help any country. It is a win-win cooperation. Western countries account for the largest proportion of Sri Lanka's foreign debt. US bond investors are suing the Sri Lankan government recently, demanding repayment of the debt. Why don't you blame these Western countries?

[@rajeendraperera8786]

Pure bull.

[@wm69]

corruption is the root of all these problems.

[@sjv9147s]

At 10% of Sri Lanka's national debt (compared with IMF's @ almost 80%), I doubt China's is the hyped up "debt trap".

[@amitduwal3726]

Always surprised to see IMF and World Bank portrayed as holier than GOD

[@roxiewang8943]

A small island living on organic food？How ridiculous！The country‘s problem should owe to the western oligarchs who fooled them to change their common food plants into the luxious organic plants. Yes organic sounds beautiful，yet in turn your poor people have to live on imported food！And when there is a war and the international food price boosted，guess what？People would be throw into property，which has little to do with China and mostly a western rooted issue. And still it has something to do with China from another perspective：China has send emergency food supply to Siri Lanka for help, though it’s still not enough to solve the complete problem,but that generous act do interfere the ABCD ,the international oligarchs of food to rob the Sri Lanka commoners ,thus they would need BBC to bark for them.

[@kylesmith8128]

@@roxiewang8943 Overuse of chemicals has long-term effects on soil that can end with dead, useless soil. Sri Lanka is doing the right thing, but they did it far too quickly. It was, as you said, quite stupid. But "western oligarchs" do not sell food in that area of the world in large quantities, so it does not benefit them to cause this kind of disruption. That only benefits the powerful regional players like India and China.

[@WorldOfKnowledgeTH]

How so? The IMF exists for this exact reason. Money is poured in from rich countries to help the poor countries looking to develop. Try to consider as an international investment committee, it isn't owned by any one country and the money given to a country is the same. The IMF will assess if the country can pay it back or not just like when some people check credit ratings for common folk before allowing mortgages on houses etc. It is a risky business to be in for both the IMF and the country seeking to borrow money.

[@khaitsae]

Such biased claim calling debt to China as "debt trap", while 90% of Sri Lanka's external debt is owed to Western and other entities, and only 10% is owed to China. China actually builds infrastructure to back it up for its loan.

[@chrisj2502]

Western countries have their own national debt problems but they ain't talking about that

[@sko1beer]

BBC didn’t even mention what the empire did to them

[@psychkick666]

England hates China that is why there is propaganda. BBC is banned in China for biased news.

[@SelfProclaimedEmperor]

And Then China steals the infrastructure. China stole Sri Lanka's port.

[@khaitsae]

@@SelfProclaimedEmperor Can you share evidence that China "stole Sri Lanka's port"?

[@charlesbeaudry3263]

I love these stories. Whatever you may say, the fact is that somebody, somewhere is using death traps. America, Britain, and before that, Holland, Spain, the Romans, etc etc. This is how these things work. Power is power, kickbacks, all kinds of financial thievery. The main issue is the infrastructure itself and not who owns it.

[@ursodermatt8809]

yes, for example charles beaudry is doing death traps to his friends.

[@tinamoran8270]

do you really mean "death" traps or debt traps?

[@bhoepa5550]

Yes, spin it so that people get distracted from the main topic here.

[@edgarmondragon4708]

The World is a victim of the US debt trap post WW2: It's called Marshall Plan, IMF and World Bank.

[@ursodermatt8809]

@@edgarmondragon4708 If anybody is a victim here it is certainly you. A victim of utter ignorance and stupidity.

[@ChrisJensen23]

That “debt trap” model that the BBC rightfully asserts is being used by China on Sri Lanka just happens to be the same model the IMF has used for decades: extend loans that won’t be able to be repaid, then seize infrastructure. Read “Confessions of an Economic Hitman” by John Perkins for an insider’s perspective on it all.

[@deekshantbelwal1269]

Boss IMF interest rates are 4% while china is charging 8-11%.

[@lachh69420]

@@deekshantbelwal1269 IMF intersest rates to Jamaica were 20%

[@deekshantbelwal1269]

@@lachh69420 I can't find it on Google...can you tell where you read this....20% interest can't be repaid.

[@branc2658]

But IMF doesn't nationalises strategical infrastructures as ports, like China does, if the country doesn't repay the loan.

[@hellogoodnite8447]

Just asking, but does the U.S. take over infrastructures using these debts?

[@leonidaslazos6828]

While it is true that China owns around 10% of sri Lanka's debt, Japan also owns around 10% of ari Lanka's debt. Asian development bank owns around 13% of sri Lanka's debt. I don't get why china is portrayed as the scapegoat of sri Lanka defaulting and them not being able to pay their loans ...

[@chaitanyak.n.4768]

if your friend forces you to take a loan when you already have big loans , you blame that friend, who made you go over your purchasing edge, not the original loans which you took because it was within limits.

[@WillieFungo]

Pure propaganda

[@eugenedebbs2189]

@@chaitanyak.n.4768 You should first blame yourself for getting into loans that you know you couldn't afford lol instead of pushing the blame to your friend. Stop treating the SL govt as if it is a child. The SL govt has agency and they entered into the loans with their eyes wide open.

[@knowledgesite5900]

China loan term and condition are very tough nad non negotiable that is why

[@WhatHappenedIn-vt3vq]

When the U.S gives a loan, we'll collect through temporal resources like labor or raw resources and if a payment can't be made I believe we just extend the period it can be paid and negotiate while we also refuse to give certain loans that won't allow for the country to continue turning revenue to pay for it. When China gives a loan, it seizes land. There's no dept forgiveness, no renegotiating terms, and then if the people who once occupied the land disappear from their homes and don't show up somewhere else its another "nothing happened in ___, and these are malicious lies spread by the West to destabilize our great country"

[@Eddieteddy965]

It seems that, compared to Western lenders, China has less prerequisites to lend money to other countries, but is keen on having a colateral shall repayments fail. This attracts countries with poor governance or management, but with good collaterals to back up loans. Chinese creditors are keen in getting repaid on time and in full- if something fails, they will take action to be sure their losses are minimal. It can be a way to control a country - but other countries are also working in the same direction - India’s emergency support to Sri Lanka is not selfless, and an IMF’s bailout will come with requirements that will make the country more open to global investment- ultimately allowing global investors to profit from that country.

[@Ryanlexz]

China wouldn't even care about BLM

[@xyz-vv5tg]

ok

[@kellikelli4413]

Always read their fineprint... And FYI, this land grab has been a huge bankster plot, for years... #TheGreatReset

[@Avengerie]

Yeah, because Greece was in a good place repay its Western debts…

[@anshumansahu1087]

Of course it is not self less. Imagine having a country like Afghanistan sharing a border with your country. You would be worried about your family every single day as you leave for work. An unstable neighbourhood will always cause trouble.

[@fenneka1410]

90% debt from west，USA，imf，worldbank，japan.it's not trap 10% debt from China,Yes,it's trap

[@fenneka1410]

@@waitwhat3547 Do Sri Lankans need to repay debts to IMF and Western banks for loans to buy food and oil? The IMF and western economic organizations induced the Sri Lankan people to maintain long-term bad consumer spending through borrowing, which is the root cause of Sri Lanka's debt crisis. If a country cannot achieve good fiscal revenue and expenditure through its own development, it will inevitably lead to a national crisis. When the imported food and fuel are used up, the Sri Lankan people have nothing except the debts that cannot be repaid. Is this what you expect? By investing in highways, airports and ports, materials and personnel can flow freely within the country, making it easier for farmers and agricultural products to reach cities, and fundamentally promoting the free development of Commerce and industry. Instead of enticing poor farmers to borrow money to buy expensive consumer goods and then let them go bankrupt, your loan behavior is not really trying to help Sri Lanka. I'm really ashamed of your behavior.

[@rajk2169]

Darwin port in Australia, Piraeus Port in Greece and Felixstowe port in the UK are also owned by Chinese companies. Chinese companies own fully or hold stakes in 13 major ports in Europe. No one seems to complain about Chinese owning ports in Europe or Australia!

[@warnpassion]

Apparently the whites are willing to compromise on national security for a few bucks. Their sovereignty is for sale.

[@peterphan3524]

When you borrow the money from bank to buy your house and when you can't afford to pay the bank eventually the bank will confiscate the property. Is that a debt trap? You are smart enough to whine about it you can figure this one out. It's all about insecurity and anti China BS.

[@psk2465]

US has >800 oversea bases. Are these acquired on leases or by conquest. Only China hater like to focus on Chinese built port which China took over on lease & manage it. Such port managed by China can attract Investors, trades &shipping lines, & help to ease unemployment issue in Sri Kanka.

[@fightback397]

@@bonnie7898 Lease is a comfortabel policy . Debt is not .

[@j2h226]

China-operated ports raise security fears for US, NATO 2 Jun 2019

[@nmew6926]

The West NGOs and governments have preached Sri Lanka on organic farming. It has been a disaster. Food production fall by 90%

[@yr5339]

they used organic fertilizers manufactured in china

[@chou6534]

Why always discredit China? Sri Karan's creditor country is not only China. Isn't the reason of Sri Lanka at present caused by their own government? While you were still smearing China, China had already assisted Sri Lanka with 10000 tons of rice.

[@darfri]

实际上除了中国之外，也没有其他国家愿意投资基础的道路和铁路。到最后他们就会发现他们的债务依旧会违约。

[@jiaqichen7584]

BBC did not tell you 10% of Sri Lanka's debts are from China, while 10% from Japan, 9.9% from World Bank and 47% from international market.

[@itsmekassa]

We have to pay more for china because its interest rate is high ,

[@jiaqichen7584]

@@itsmekassa that is because China takes the risk to develop your country unlike West who give out handout to keep you poor forever.

[@itsmekassa]

@@jiaqichen7584 japan isn't west but they have decent intrest rate, in My viwe of point sri lankan politicians want commission then they start over estimated white elephant project with support from chain money and yo can see another chaina take over project,chain kenw sri lanka cant pay for it but chain working for their new world oder

[@jiaqichen7584]

@@itsmekassa Japan also provided 0 interest loan to India for their high speed railway, for god sake, the rest is history but if you don't know please Google it

[@tweedy4sg]

@@itsmekassa how much higher ? The interest rate for the 10% would have to be 9x higher for the 10% to carry the same risk as the remaining 90%. Assuming the market standard of 2-3% for sovereign debt. Will SL sign up for a loan thats charged at 18 to 27% interest rate ???? Use your brain to work out the math before you engage your mouth or keyboard 🤡 !

[@38284LHK]

Official data from Sri Lanka's Department of External Resources shows that at the end of April 2021, nearly 47 percent of Sri Lanka's foreign debt was owned by Western funds and banks. In addition, the Asian Development Bank owned another 13 percent while China and Japan each owned about 10 percent. Yet no one is saying anything about the "Japanese debt trap."

[@sulahu]

Indeed. The west just want to potray china as an enemy.

[@Samarthjbr]

+5 social credit

[@sionantara370]

@@Samarthjbr No argument?

[@SoCal760]

China owns 10% of Sri Lanka’s debts. Japan owns more. The World Bank, IMF, and ADB, which were pretty much created and run by the US, own the largest portions of Sri Lanka’s debts. So if there is a debt trap, we should have a honest and comprehensive discussion about it

[@mylet2658]

Why did China loan money if it knew they owed all these other countries money. Sounds like a loan shark to me to take over a port

[@laxjs]

Bold-faced lies. The Chinese government owns 10%, but if you account for loan given out by the PBOC and Chinese state-owned companies, it is more than triple that. China literally took control of a major Sri Lankan trade port for the next 99 years! Which is insane and unprecedented in post-colonial history

[@LuisCruz-ne5wo]

But that does not apply to western narratives. 😄

[@mylet2658]

@@freemason4979the west doesn’t take over ports so no the west doesn’t do that you are wrong

[@sjhassjh3941]

@@laxjs a Chinese firm took 70% stake for 99 years,for 1.2 $billion fees,how's that different than buying port? Sl can return 1.2 b $ and take the rest of port share.

[@baiwuli6781]

next time my bank tries to take possession of my house because I can't pay the mortgage I will sue them for using debt trap

[@jobj2963]

There is a certain amount of western bias in the entire 'debt trap' argument, but there is a certain truth too. The problem is with lack of transparency and 'white elephants'. It is not about the quanitity of the money but the quality of loans.

[@jobj2963]

@@yarxk2711 But handing it to China isnt so easy. Even within Sri Lankas pro China, anti India segment, many worry about sovereignty issues around such a handover to China. Same in Pakistan.

[@jobj2963]

@@yarxk2711 There is a long history of long term economic agreements leading to unintended political consequences. Eg, East India company, Perisan oil, Suez Canal etc and countries are generally weary of them.

[@giselle_kvm]

Of course not. China holds 10% of Sri Lankas debt, the rest belongs to the West

[@iROChakri]

China is trying their best to save Sri Lanka but the damage done by The West and North America is too deep and irreversible. Sad but it is what it is.

[@ghostly9450]

are you stupid?

[@davidyu4932]

So you owe my money, then you blame me?

[@user-yn7mf7tr3b]

Sure when you can’t pay back for the loan of your car the bank take over your car you can call BBC to make a news report the title is “bank debt trapping me”.

[@davidyu4932]

@@user-yn7mf7tr3b yes, That's absolutely the stupid logic.

[@derekfoust4635]

The “debt-trap” theory is concocted by Brahma Chellaney, an Indian geopolitical strategist. The “debt-trap” theory is concocted by Indians, and popularized by Americans. They concoct this theory to demonize China, Chinese and BRI projects/loans. India, US, along with EU, fear losing their dominance and control over other countries which may result from these projects. Such fears are based on their selfish and geopolitical interests. However, people from all over the world, especially from developing countries have acknowledged the needs and the actual benefits of these projects/loans. They know from their first-hand experience that there is no debt-trap. Academics and researchers have reviewed these projects, and have debunked the debt-trap theory.

[@ncberic]

What channel is this? Omg never thought this come out frm bbc. You guys really good at framing others. Good job.

[@edmundwessels2072]

We have the same problem in South Africa. The IMF loan the corrupt government money while they acknowledge the corruption.

[@dgoggin2k10]

US and UK have been doing this since the dawn of time

[@icecream270]

"Chinese debt traps" as the BBC calls it, is what we live daily in our society. You go to the bank and ask for a loan. The bank gives you money in return of a signed act/document stipulating you need to pay back monthly or you risk to lose your house and even worse your freedom and end up in prison. So what difference is there between our system and the "Chinese debt trap"?

[@banialuki8012]

China is communist - communism kills people, not helping them. Europa knows that and chicnese people are suffering till this day. They will take everything. Sad but true. In china you don't even own anything. The government can take everything when they want.

[@rickkoby2135]

Why did only China seize the port while other creditors did not? The other countries are lending money for international cooperation.

[@icecream270]

@@rickkoby2135 Why do banks seize your house? Asking this kind of questions proves how ignorant you are. Guess you never heard of the 2008 crisis huh?

[@yqisq6966]

@@rickkoby2135 Dude you just answered your own question. Other creditors wanted interest to be paid back in cash. Also China rent the port, which means they gave money to Sri Lanka so they could pay their debts.

[@blokin5039]

Only around 10% of loans are from China, 12% from Japan so why not focus on Japan? Sure you get less views..

[@SelfProclaimedEmperor]

Because Japan didn't steal a Sri Lankan port. China did.

[@adelineqin6873]

I thought "you borrow money, and it's your obligation to pay back" is a universal understanding of the "borrowing" concept. How can that become a "trap"?

[@tripathiashutosh874]

It is trap you ccp keyboard warrior but can't understand

[@shekharsinhavicky]

Because Lender offers you money not for interest but for equity in future . When Lender deals with the corrupt rather than real stakeholders. When Lenders increase the rate of interest midway. When Lenders know in advance investment is not going to get any returns except Bankruptcy and that is when Lender will be able to buy the distressed assets for dirt cheap prices meanwhile not showing any flexibility for previous loans like readjustment or restructuring etc.

[@alavezrainwave1292]

Don't blame China, blame the government of Sri Lanka for taking such debt.

[@nsebast]

BBC reporting is very uneven. Western debt to Sri Lanka amounts to 5x much higher than China but never mentioned.

[@thorc4167]

Did you even watch the video?

[@pjx607]

Sri Lanka's government and leadership is to blame for this crisis. Can't blame the Chinese when the Sinhalese government have no idea what they're doing.

[@sarathw5740]

No China is responsible as a lender.

[@xchen3079]

Both! Chinese did it deliberately!

[@timothywanjiku23]

@@sarathw5740 where is the rest of Western debt?

[@edlubitz2968]

speaking of debts owed, china is defaulting on its payments, and has pretty much told the west to piss off, the last 40 years have just been a ruse to get the west technology and steal what it can and have western business build its infastructure, hope you all get washed away from flooding and landslides...what comes around goes around

[@clionamoore8365]

The government of Sri Lanka isn’t in control of anything. The people are suffering appallingly but it’s down to the main families corruption, not the Chinese per se , although the Chinese know exactly what they’re doing . Resource hedging .

[@andreamadden9153]

1 cliona moore Fuk what you saying it here 😠 kzbin.info/www/bejne/bqvVl4aBa9WhprM Felicidades, es un buen ejemplo. 😠 5:25 Se deja ver que hay muy buenos resultados 😠😠 Saludos desde la Cd.. de world 🌹😉💖 los mortales abian apreciado tan hermosa mujer

[@rickjames18]

Strategic postitioing and shipping control. String of pearls.

[@Ryanlexz]

The irony that Sri Lankan now will be on IMF debt( western run organization) 😂😂

[@ragnarokws2670]

10% of Sri Lanka debt is from China , 12% from Japan & 45% from Western countries . Western countries Debt Traps ( IMF etc .... ) are 4.5 times bigger 🤔🤔

[@DipJyotiDeka]

And yet they have not taken any sri lankan assets as collateral. There is debt and there is debt trap.

[@damsoy6230]

@@DipJyotiDeka but its your fuckng fault to have debts anyway, Fuckng corrupts then blame others for their own fault.

[@SteveSun89]

BBC, please do an exposé on how my bank has debt trapped me with their mortgage :)

[@vister6757]

👍👍 😅

[@defencebangladesh4068]

😅

[@1234kingconan]

Hang on let me get a loan for a million dollars…. Ok I’m back. I also need debt forgiveness now please these money lenders are evil!

[@bowlampar]

Based on BBC 'logical' reasoning, ONLY Chinese can debt trapped you, not your bank. ...😁😂😁

[@thechargeblade]

Now think about it, if you know that a business is going to collapse because of their incompetent employees, why would you still want to lend them money?

[@questworldmatrix]

Why else do you think people complain that China bring it's own workers to do such projects? It's so that sticky finger politicians don't skim off the top or add bs expenses.

[@superskrub4209]

I would, but at a higher interest rate and some kind of guarantee to make up for the risk

[@saidaholyjoy3771]

Imagine if China didn't help, the west will probably scream over how China's leaving Sri Lanka to die And that's exactly what i'm seeing right now

[@dota2pogandomegalul96]

If there's a physical collateral which in this case, the port. Why not? It's a form of payment?

[@banksiasong]

As opposed to IMF debt traps?

[@andreamadden9153]

1 banksiasong Fuk what you saying it here 😠 kzbin.info/www/bejne/bqvVl4aBa9WhprM Felicidades, es un buen ejemplo. 😠 5:25 Se deja ver que hay muy buenos resultados 😠😠 Saludos desde la Cd.. de world 🌹😉💖 los mortales abian apreciado tan hermosa mujer

[@williamtell5365]

Yep. IMF can be bad. China is far worse.

[@AjayTiwari-en9nz]

IMF debt forces countries to restructure tax structures. Like reducing subsidies and increasing tax collections. In the long run IMF debt if handled correctly helps in the long run. For example India took loan for IMF in 1991 and that made India an economicaly strong nation. Becoming US ally helped even more.

[@williamtell5365]

@@AjayTiwari-en9nz The IMF has failed in the past. Caused harm to developing countries. But that is different from. China. China is trying to take direct control of foreign countries and assets from debt traps. Like a gangster lender.

[@sko1beer]

@@williamtell5365 should of used saved up cash. It’s never a good idea to borrow money you don’t have

[@FFP-p7z]

Sri Lanka's foreign debt Market Borrowing 47% Asian Development Bank 13% China 10% Japan 10% World Bank 9% Others 9% India 2% I will leave it up to you to decide what to make of this BBC story with a typical BBC story headline.....

[@vladimirklimova2593]

No china is 16%

[@ibnbattuta1304]

UK stole $50 Trillion Dollars from India. When will give it back?? 🤔🤔

[@doubleeffectsdnbhd4070]

Never heard of force to borrow money… at least no one passed me the money before.

[@windsong3wong828]

Oh…..it’s the banks fault that forces me into buying the house that now went down in value. If the bank have not offered me the loan I would never have bought the house. If the house price have gone up……I would be the hero to make a lot of money and I was smart to have used the bank loan.

[@knight32d]

Stop China bashing every time when China is booming .

[@sko1beer]

What else do you expect from the bbc it’s not like the empire can compete in the real world anymore. But online it’s nearly free

[@riccisantiago]

.i could really feel someone is lying even on camera. my heart goes Sri Lankan people.

[@vishnuthulasi5248]

If a country accept loans from china, that country would finished🙏🙏

[@GlasgowCelticFootballClub]

This guy is in for a treat when he hears about the IMF…

[@Rman775]

The very short answer to this question is no. This whole 'Chinese debt trap' narrative is getting old and attempting to pin Sri Lanka's problems on a country that barely holds 10% of its foreign debt is quite ridiculous. Sri Lanka's issues are down to the mismanagement by the government there and nothing else.

[@santokun5835]

+10 Social credit points

[@Rman775]

@@santokun5835 What??

[@vister6757]

Not mismanagement but more so due to greed.

[@chrisworthman3191]

We are all victims of a debt trap.

[@mohamedtrevino8709]

1 Chris Worthman Fuk what you saying it here 😠 kzbin.info/www/bejne/bqvVl4aBa9WhprM Felicidades, es un buen ejemplo. 😠 5:25 Se deja ver que hay muy buenos resultados 😠😠 Saludos desde la Cd.. de world 🌹😉💖 los mortales abian apreciado tan hermosa mujer

[@cc_fffknow]

Japan and the US invested heavily in China since 1990, so maybe China has been in debt trap for 30 years, but actually not,We Chinese appreciate the investment from Japan and USA, it is win-win to both side,China has achieved modern industrialization through hard working, Japan and USA made a lot of profit from investing in China . so your success depends on your own efforts , foreign investment should always be appreciated, foreign investment not only bring capital but also knowledge, knowledge is priceless

[@yqisq6966]

1:19 oh wow the only data shown in this video is the Chinese debt as a % of GDP, without comparing to the total debt from all sources? What a blatant manipulation of presentation.

[@CN_SFY_General]

Sri Lanka has a lot of imports and has very few industries for exports except tourism to support the imports. Without the China dept traps, Sri Lanka will still have the same problems of missing foreign currency with the tourism shut down for almost 3 years. This is the key reason why the Sri Lanka government collapsed.

[@troyfeltman6210]

China funded the Hambantota port not because they loved Sri Lanka...because they wanted a port in the Indian Ocean. China would have gone for the Mattala Airport, but India beat them to it. Sri Lanka has a lot of raw materials - including oil and gas deposits and China had designs for them too. Sri Lanka was second to Japan in Asia...the Rajapaksas and Chinese debt traps changed everything.

[@ragnarokws2670]

@@troyfeltman6210 10% of Sri Lanka debt is from China , 12% from Japan & 45% from Western countries . Western countries Debt Traps ( IMF etc .... ) are 4.5 times bigger

[@ramanibrijesh]

​@@ragnarokws2670 Yes, but they are not confiscating Sri Lankan assets in response to the delayed payment. They are trying to renegotiate a different payment deal

[@sch4891]

there is not debt trap owing most of your debt to one place is fine as long as youre allowed to build something with it so you can pay the money back. the imf and world bank dont allow for that. anyway, here are more vids disproving the debt trap myth. kzbin.info/www/bejne/hXiqeqeCfrB_bsk kzbin.info/www/bejne/bZjamJZ_m9-nqqM kzbin.info/www/bejne/lV60dXiNrLiehpI

[@vanderwulf6125]

Don't worry people here like to blame China instead of Sri Lanka Leadership which is the fundamental problem at hand.

[@lplen6819]

Sri Lankan debt is due to loans from IMF n WORLD BANK. You point yr fingers at the wrong party. Likein Africa South America n other countries IMF n WORLD BANK made these countries in debt on n on. An endless circle of payment of interests.

[@santokun5835]

The only “wrong party” here are ccp bots with “engrish “ as their main language

[@damsoy6230]

noo dont tell lies, trust uncle johnny

[@ekleong8]

China only have 10% of Sri Lanka debt which is the same as Japan. Majority of the debt is from western countries like market borrowing of sovereign bond 47%, ADB 13% , Japan 10%, WB 9% , India 2%.

[@lightblue254]

You do realize that market borrowing means anyone else can borrow sovereign debt? That it could also be just companies or other institutions? Or even domestically? And how are you we sure that China only lent Sri Lanka 10%? What about the unaccounted deals? Considering Sri Lana's and china's corruption problems and the fact that CCP is extremely rarely transparent about their shady dealings

[@naturalmystery]

@@lightblue254 Don't waste your time trying to argue with an agent of the CCP! Faceless icon, no videos on channel, and the subs speak volumes! Worry more about 2049 their end game date! They will take land build ports and eventually attack! Good luck for the future my friend. We are all doomed if we don't wake up and stand together!

[@AdityaSunil232]

@@lightblue254 lmao you think China made the pie graph of the whole Sri Lankan debt?

[@lightblue254]

@@AdityaSunil232 How did you even come to that conclusion?

[@AdityaSunil232]

@@lightblue254 you're saying that China is lying about how much it lent to Sri Lanka

[@marvelcomiks8078]

China is like a Global Bank and Investor. They do not need to interfere with how and what you do with the money you borrow from them. You just need to be able to pay them back. And chances are, you won't because most borrows have no money in the 1st place, just like Malaysia who borrowed billions from the IMF only to find herself in huge debt. Only difference is when you owe the IMF, they force sanctions or austerity measures on you in return for their 'bailout', China just takes over what you owe them.

[@alyahamzah1952]

Hello, malaysian here. Our country did not borrow from imf. That was indonesia. They borrowed usd 43 billion in oct 1997 during the asian financial crisis. Then malaysia's Prime Minister , Tun Dr Mahathir famously refused to do so and instead implemented capital controls. The other Asean nation to borrow from IMF was thailand. Get yr facts straight.

[@marvelcomiks8078]

@@alyahamzah1952 Enlighten us then, where the billions of dollars for Malaysia suddenly came from since Malaysia did not have a sovereign fund to begin with. The ones embezzled in the 1MDB. Balls jammed? LOL.

[@user-fo1hg7li6c]

How much do they owe to the IMF? Sorry I didn't waste my time to watch the video after the clickbait title

[@nischalsantooshsinghsairam2278]

Goddamn it. Hambantota port once docked a chinese nuclear submarine. How can u say its not strategic?

[@osajja159]

Why not talk about IMF debts?

[@asmaben1114]

At least this is an honest report. One can't pinpoint the failing of Sri Lanka's economy as the result of Chinese loans. If anything, it is my guess that the Chinese have not expected the lack of willingness of many countries to put in '' hard work'', as the Chinese ambassador called it. Chinese are commited to working hard to improve their situation. They have this ''Confusianism'' approach to life. Many other people do not. They like to take it easy. And of course, corruption is a major problem. Too often, there is not communal thinking amongst those in key-positions in debt-ridden countries...

[@thanawitsagulthang6471]

Loan from China bad baaaad, loan from imf good goooood

[@lordtube1084]

Give loans to Sri Lanka bad baaaaaaaaaaddddd

[@mostlymessingabout]

America have been using the same trick for DECADES

[@keniamcguire2126]

😠 Fuk Jon Snow what you saying here kzbin.info/www/bejne/oITGi56Ifdmglbc Falar com O Sr. António é como viajar no tempo, é sonhar acordado, é uma lição de

[@yqisq6966]

5:45 wtf why should Chinese loan be "reported" to IMF?

[@crishhari5903]

Sri Lanka debt( source DW news) China=10% India=2% Japan=10% World Bank=9% Market Borrowing=47% Other=9% Asian development Bank=13% China didn't cause the crisis nor did any other lenders in this group. It was the failure of the government of Sri Lanka. One area where China is at fault is, China loaned the money to a government which didn't know how to handle it's finances. But this isn't just China's fault, all the countries included in the list above is at fault. Excluding India. India is very responsible when it loans money.

[@andrecordero6958]

Shhh they don't want to know the true , blaming China is the only way to look somewhere

[@johnxina987]

This is the new way of war.. To fight by not fighting just drown your enemies to debt and it's a win without a loss of lives

[@kingjager8662]

CIA bot coming

[@WorldOfKnowledgeTH]

Without loss of lives? It's the Sri Lankan people that'll die! I pray that a miracle happens in Sri Lanka and they are OK. They are such lovely people and I fear for them especially with the hardships they're facing. You clearly don't have a heart!

[@WhatHappenedIn-vt3vq]

Your pfp, paired with comment. Lol

[@WhatHappenedIn-vt3vq]

@@kingjager8662 You must really have a low op is the U.S if you see that PFP and comment and think that's a paid CIA actor. That would barely higher then Russian bot level

[@kingjager8662]

@@WhatHappenedIn-vt3vq Oh, typical double standard. This guy attack everything China did. That's what CIA does.

[@hedgehog7243]

In the first place, it's Sri Lanka 's fault to rely on China. They have already decided to borrow from China, so good luck.

[@jiminauburn5073]

The leaders decided to borrow from China. And the reason is because if China gives them $100M for a stadium, they will get at least $10M of that. If the stadium fails, if the country defaults, they do not care, they just made $10M. Paying bribes is a staple of Chinese business. And when a western company and a Chinese company are both trying to get the rights to develop some natural resource, you can bet the Chinese company will get the rights because they will bribe whoever is making the decision. Sometimes US companies feel they are forced to pay the bribes to compete, and the US finds out and comes down on the company and people, charging them criminally. But in China, it is accepted as a normal business practice.

[@sko1beer]

@@jiminauburn5073 just force them onto opiates that’s the best way to a good fair deal

[@paulskiye6930]

@@jiminauburn5073 nobody is a saint in the business world. Even western companies bribe officials. That's obviously a fact. They even have legal bribery called lobbying.

[@jiminauburn5073]

@@paulskiye6930 bribing is not a standard business practice in the west. And those caught are prosecuted. We actually have laws in the US where if I was to offer a bribe to someone ANYWHERE in the world, I would be arrested and tried if they found out. I have worked with factories all over Asia, and the US. The only ones asking me what my kickback percentage should be are the Chinese factories. None in Vietnam, Indonesia, Malaysia, SriLanka, India, Singapore, or Thailand. But pretty much EVERY one of the factories in China.

[@vister6757]

@@jiminauburn5073 😂😂

[@AzharKhan-cy5kt]

Corruption bankrupted siri lanka not chinese debt

[@GoldNugget138]

Stupid BBC, get educated for ones. Sri Lank owes Japan the same amount of money so why don't you say Sri Lanka is another victim of Japanese lending? The fact of the matter is most of the money owed by Sri Lanka is to European and American financial institutions.

[@andreamadden9153]

😠 Fuk British Bulldog what you saying here kzbin.info/www/bejne/oITGi56Ifdmglbc Falar com O Sr. António é como viajar no tempo, é sonhar acordado, é uma lição de

[@Heartadia]

The reason the countries borrow from China is because China offers the desired projects at a cheaper price. It is as simple as that.

[@tututu7686]

太无趣了，能不能整点花活啊，除了一带一路和新疆能搞点有意思的么，bbc属实是拉跨了

[@nanhinting7447]

Yes they are trying very very hard to find more smearing and slandering. Agree it's getting boring. Tibet, Hongkong, Xinjiang, Trade War, Taiwan,, South China Sea, South Pacific Island Security Agreement, Dept trap, etc. In the beginning the fox tried to hide its tail but now the fox tail is in the open. People around the world are watching it with bemusement of lies. 🤣🤣🤣

[@jiminauburn5073]

I went to Sri Lanka years ago. Back when the Tamil Tigers were bombing the capitol. My flight arrived in the capitol very late at night. By the time I was on the road, it was about 1am. The hotel sent a car and as we were driving down dark roads through an industrial area, in the middle of nowhere, several guys stepped out of the darkness with machine guns and stopped our car. The driver who had not said a word until that point says "uh oh". The guys in black with machine guns surrounded the car. The driver was frantically pointing at the outside of the driver door where it had a logo for the hotel. The guys shined some lights into the car, turned around and walked into the darkness. Was never more scared in my life. I can only guess that it was some type of security organization that was checking for people that were coming to cause harm to the capitol.

[@beejar9737]

Thank God you're safe...after that have you ever been to Sri Lanka again?i

[@jiminauburn5073]

@@beejar9737 One other time after that. I have climbed around in the bamboo forests on the Thai/Myanmar border, and on the Vietnam/Laos border. Those places were a bit sketchy as well.

[@ANGELSVEN]

Debt traps have been in existence for a long time sadly.

[@mynameistooshort465]

A debt becomes a trap if one doesn't know how to pay.

[@loveanimals-0197]

This is what the USA (via IMF) does (for example, look up what USA did to Jamaica). Not China. China helped so many countries and their people come out of poverty. Look up the stats.

[@tigading2177]

Every few weeks or so pathetic MSMs like BBC will republish a propaganda, this one was already debunked by Deborah Brautigam some 10 years ago. Remember Iraq? Remember Saville the BBC paedo? BBC did the same, no one should ever trust the BBC ever again.

[@b.n.sdevil1014]

This news is daam true💔 Srilanka going down💔 Its very hard to live here💔 No fules. Electricity cuts. Schools also close. We gona fight to take our country back❤️

[@bowlampar]

''Debt Trap''? It's quite laughable indeed coming from BBC! 😂😁😂No doubt our World will be better off every time a heavily indebted country can't pay back its excessive foreign debt, just blamed on 'debt trap' set up by creditor, not the debtor! 🤗

[@CalculusProfessor]

Who is this Umesh Muramudali? He is clueless about 81% Sri Lankan debt held by Western nations, International institutions, India and Japan.

[@quintusfernando7396]

No Chinese debt trap in Sri Lanka. Rajapaksas have stolen all our dollars , Taken 💰money to Uganda,Seychelles, Dubai , Singapore. & so many other Destinations. Gothabhaya Rajapaksa is the President of the country. Hie is protecting the Family Business!!!. PS.Last bastion fell.. Gota has resigned