Debt-trap diplomacy refers to a strategy where a country extends excessive loans to another nation. The borrowing country struggles to repay these debts. This often leads to increased dependency on the lender. Critics argue it undermines sovereignty. It can also result in strategic concessions. This practice has raised concerns in various regions, particularly in South Asia and Africa.
On November 14, 2024, Chinese President Xi Jinping inaugurated the Chancay Port in Peru. This port is a very important element of China’s Belt and Road Initiative (BRI)....
