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China Debt Trap Diplomacy in Commonwealth Nations: Know about China’s loan-slavery strategy in Commonwealth countries

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Highlights

  • China, preparing to give a big blow to Britain, is bridging the Commonwealth countries with debt
  • China invested more than $913 billion in 42 Commonwealth countries
  • Britain also formed a new body to invest more in these countries

Beijing
China has made preparations to give a big blow to the Boris Johnson government amid the ongoing tension with Britain. China has invested more than $913 billion in 42 Commonwealth countries under British influence over the past 16 years. Britain is concerned about China’s growing interest in Commonwealth countries. Britain and China already have disputes over Hong Kong, Uighurs and Taiwan. The Commonwealth includes countries that have once been colonies of Britain.

Billions of dollars of loans distributed in 16 years
The American Enterprise Institute, a Washington DC-based think tank, has reported that China has invested $913 billion in 42 Commonwealth countries since 2005. It also includes the Caribbean countries of Barbados and Jamaica. China has invested $667 million in Barbados, set to become a republic on Monday, and $3.4 billion in neighboring Jamaica.

Barbados and Jamaica were given the highest debt
The data shows that over the past sixteen years, China has invested about $667 million in roads, homes, sewers and a hotel in Barbados. China has invested $3.4 billion in Jamaica. The GDP of Jamaica is $21.8 billion. Due to which Jamaica has reached the first place in terms of Chinese investment in Caribbean countries.

Britain also announced to give more money to Commonwealth countries
Britain’s Foreign Secretary Liz Truss on Wednesday announced plans to replace Commonwealth Development Corporation with British International Investment. He expressed hope that the new body will provide $10 billion in investments per year to Commonwealth countries by 2025. This body will encourage the private sector and other western countries to invest more in Commonwealth countries.

Critics said – Britain delayed in sensing the atmosphere
Critics say they wonder why it took the UK so long to act on British international investment. Didi Kirsten Tatlow, a Senior Non-Resident Fellow of the Synopsis Project in Prague, said that we have been following the same path for decades. We fundamentally misunderstood what the Chinese Communist Party is, and what it wants. We have made a mistake in this scenario.

China wants to control Commonwealth countries
He said that they are using their considerable financial resources to create strategic interdependence in the society. Wherever China can do this, it is also doing it in that country. This is how you start to control the world. This increases the risk of totalitarianism spreading as countries cannot afford to do anything about it.

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