China’s 'debt trap' even worse than we thought

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Not the huge pile of debt within China’s economy itself, but the prohibitive debt it is managing countries into, via signing them up for One Belt, One road projects – projects built by Chinese companies with funds lent by the Chinese government to the host nations, thus either plunging them into decades of interest payments or ceding part-control over what are supposedly national assets. The most obvious example is Sri Lanka and its new port of Hambantota, which the Sri ...