Washington/Beijing: – A US think tank has accused Chinese President Xi Jinping’s ambitious Belt and Road Initiative (BRI) of creating a debt burden on small countries as much as USD 385 billion. The study notes that about 42 countries are trapped in the Chinese predatory economic policies, with their debt exceeding 10% of the GDP. […]
Read More »
Manila: The Malaysian President Mahathir Mohammad warned the Philippines that “If you are borrowing vast sums of money from China, beware of falling into its debt trap. The Malaysian President is currently on a visit to the Philippines and China was at the centre of the discussions he held with the Philippine President Rodrigo Duterte […]
Read More »
New Delhi: India has announced financial aid of $1.4 billion, for the Maldives, trapped under the burden of the Chinese debt. Along with this, four memorandums of understanding (MoU) have been signed between India and Maldives. This announcement was made after bilateral talks between Maldives President Solih, currently on his India visit and Indian Prime […]
Read More »
Canberra: The chief of Australia’s central bank has warned that the increasing built-up of debt in the Chinese economy, who is the biggest trade partner of Australia, can prove dangerous for both the countries. The debt to GDP ratio in the Chinese economy has risen from 100 percent to a staggering 260 percent in the […]
Read More »
Cairo/Beijing: African countries have been in trouble due to the Corona epidemic, the food shortage caused by the Russia-Ukraine conflict and the recession-like situation in the world economy. In such a situation, the international community had demanded, including African countries, that China, which provides the most loans to African countries, should waive the debt of […]
Read More »
Beijing: Evergrande, China’s leading construction company, has reportedly failed to repay more than 300 billion in debt. It has been revealed that two leading multinational banks have since refused to accept the bonds issued by Fantasia company as collateral. Subsequent developments have brought the issue of bad debts in the Chinese construction sector on the […]
Read More »
Beijing – The ruling communist government of China has informed the leading banks of the country to reduce the interest rate. Reduce the interest rate from half to one per cent, it has been said in this information, a Western newspaper has said in its news. For the second time in the last year, the […]
Read More »
Lusaka/Washington: ‘The US debt crisis threatens the stability of the world economy. Therefore, the US does not have the right to make baseless accusations against other countries just for vested interests’, the Chinese Embassy said as it sternly criticised the US Treasury Secretary Janet Yellen. Yellen is currently on tour to Africa, where she commented […]
Read More »
New Delhi: China’s People’s Liberation Army’s ‘Yuan Wang 5’ warship, used for spying and picking up sensitive information, will arrive at Sri Lanka’s Hambantota port. The ship has increased the threat to naval bases on India’s east coast and ISRO’s launch base at Chandipur. India has taken serious cognisance of this and Sri Lanka has […]
Read More »
Beijing: China, the world’s second-largest economy, is still in recession. Last month, it was revealed that China’s economic growth rate had dropped to 0.4%. After that, there are indications that the crisis in China’s ‘Real Estate’ sector is taking a more serious form. International financial institutions have predicted a 30% drop in China’s housing and […]
Read More »
