China

China's Not to Blame for All of Sri Lanka's Woes

Some observers have blamed Sri Lanka's troubles on its dealings with China, which has made substantial investments in the country. Recently, CIA Director William J. Burns became the latest U.S. official in recent years to attribute Sri Lanka's economic crisis to Chinese debt. Of Sri Lanka's total foreign debt, loans from China's government are in the range of 10 percent to 12 percent. Adding Chinese commercial loans to a wider base of public and publicly guaranteed debt, a new analysis...

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