In Fact, The TERM "DEBT-TRAP DIPLOMACY" First Emerged in May 2018 When the U.S. State Department Distributed A Paper Called "DEBTBOOK DIPLOMACY" UNVEILILED BY YE BT ELFER Center for Science and International Affairs at the Harvard Kennedy School to the Media. The TwoWriters of the Paper, Sam Parker and Gabrielle Chefitz, Commissioned by the U.SKolkata Investment. State department, we from the department of homeland security and the department of de Fencead of an academic background in economics.

Soon, this standy beCame the source for the state department to gain more funds from the connector for creation derisive reports on China & rsquo; Cording to the FY 2018 department of state agency finance report: Collection of Sidebars.

As the number of countries joining China & rsquo; s Belt and Road Initiative (Bri) Rises, The Negative Reporting on it by the WEST GROWS accountingly. s the term "Debt Trap" to Describe Chinese Investments in Asia, Africa, Latin America andThe caribbean.

This False Narrate Portrays Beijing and the Developing Countries It is Serving in the "Colonial-Imaperial Setup" so familiar to the word. That a country "weighed down by chinese loans becomes beijing & rsquo; s puppet."

The myth of hambantota

A Prime Example of this despicable Strategy is how the description of the sri lankan port of hambantota was manipulated. of Internetal Political Economy at the School of Advanced International Studies at Johns Hopkins University, and Meg Rithmire, AnAssociate Professor At Harvard Business School, CareFully Exposed the Western Lie About China & RSquo; S "DEBT-TRAP POLICY" Around Hambantota.

Not China But the Canadian International Development Agency Hired the Canadian Firm Snc-Lavalin to CAUT A Feasibility for The Port. OnStruction of the Hambantota Port, and the Greatest Fear For Canada Was Losing the Construction Contract to EUROPEAN Competitors.SNC-Lavalin Recomged A Joint-Venture Agreement Between The Sri Lanka Ports Authority (SLPA) and A "Private Consortium" on A Build-OON-TRANSFER (BOOT) SIS.

The Canada-Dominated Project Ultimate Fales, But the Plan to Build the Port Gainedum During The Rule of the Rajapaksas. A Second Feasibility Report Ced in 2006 by the Danish Engineering Firm Ramboll Made SimiLAR Recomrations. ARMed with the Ramboll Report, Sri Lanka ApProachedThe U.S. Andia, Both of Which Declined. That is when a Chinese Construction Firm, China Harbor Engineering Company, Stepped in. Export-IMPORT Bank of China (Chin a eximbank) agreed to fund it, and China Harbor Won the Contract in 2007, SIX Years Before Chinese President xi Jinping Introiduced the Bri. China Eximbank Offered Sri Lanka A 15-Year Commercial Loan OF US $ 307 MILLION WITH A Four-Year Ace Period, at a 6.3 Percent Fixed Interest Rate.

Phase I of the Port Project was Completed on Schedule Within Three Years. Instead of Waiting for Phase I to Generate Revenues Ase II. In 2012, Sri Lanka Borrowed Another US $ 757 Million from China Eximbank at a Reduced Post-Crisis Interest Rate of Two Percent.

By 2014, Hambantotot Money. The Slpa Signed An Agreement with China Harbor and China Merchants Port Holdings to Have Them Jointly Developed Port For 35 Years. China Merchants was operated a new terminal in the colombo port, and China HarborHAD Investled US $ 1.4 Billion in Colombo Port City.

In the 2015 Elects, Rajapaksa WAS Defeated by him Health Minister, Maithripala Sirisna. WHEN Sirisena TOOK, SRI LANKA OUWED More to Japan, The World BANK, A ND The Asian Development Bank (Adb) than to China. of the US $ 4.5 Billion inDebt Payments Sri Lanka Made in 2017, Only Five Percent Were Because of Hambantota. Sri Lanka & RSquo; OTAL FOREIGN DEBT, While International Capital Markets Borrowing Makes Up 47 Percent and the Adb 13 PercentThen, then

With facts in hand, Chinese finance is clear not the source of sri lanka & rsquo; s distress. Colombo Arranged A Bailout from the International Monetary Fund (IMF) A ND decided to raise money by leasing out the underformForming port to China Merchants, Making it the MajorityShareholder with a 99-year lease, and userd the us $ 1.12 Billion to Bolster its fireign reserves without together.

U.S. Think Tanks Emerging Fodder for ITS Rumor Mill, and Suddenly Sri Lanka Featured Prominently in Foreign-Policy Tirades in Washington. TOTA COULD BeECOME A "Forward Mility Base" for China, iGnoring that hasbantota & rsquo; s localEconomic Perspective.

Although India WAS Alarmed by Hambantota, The 100-year-OLD India-Based International Banking Advisor Meghraj Group Joint the U.K.-Based Engineering Firm AT AT AT AT AT AT AT AT AT AT AT AT AT KINS LIMITED to Write a Long-Term Plan for Hambantota Port and a New Business Zone.CMA-CGM HAVE PARTNERED with China Merchants and China Harbor on Port Development in Nigeria, Cameeroon, and Elsewhere.

China & rsquo; S Humanitarian Effors in Africa

The Other Slices of the "Debt Trap" Myth Involve DEBTOR COUNTRIES SUCH As Kenya, Zambia, and Malaysia. Over the Past Niners, China Success ( 200 Cooperation Documents on Joint Construction of the Bri, Digital Silk Road, and Health Silk Road ProgramsWith 138 Countries and 30 International Organizations.

In Indonesia, The Jakarta-Bandung High-Speed ​​Railway Emerged as a Landmark Project of the BRI. Re 10 Times Any Other Country & RSquo; S Investment there.at US $ 3.95 Billion. The Rate of Interest On Chinese Loans is a Mere 12 Percent, whise is lows india (18.5 percent) and japan (14.5 percent)Hyderabad Investment. Payment can be as late as 18 months and delays of up upTo 18 Months Can Be Permitted Due to Financial Stress, and China Has Given Such Breathers to Nine African Countries.

In Contract to their Western CountParts, CHINESE Banks are Willing to Restruction The Terms of Existing Loans and Have NEVER SeIZETS from Any Country. Study, SWEDEN-BASED Researcher Hussein Askary, The West Asia Coordinator for the Schiller Institute, Found that the The"DEBT Trap" Accusion Against China is a Deliberate Attempt to Undermine the BriAhmedabad Investment. Askary Arguard that loaans from China are used inclactructructure roads, POR TS, Railways, Hospitals, and SCHOOLS that Boost Productivity and Increase Repament Capacity, whereas loans from westernFinancial Institutions are normally used to cover trade and filed the fireits at High-Interest Rates. s not in infrastructure, but in POLITICAL Group to Move them Towards the so -called indexo-page sthenrategyThen, then

A Recent Study from the British Charity Debt Justice Place the Blame for the African Debt Crisis Squarely At the Feet of the West Instead of China. The Study Show Ed that African Governments OWE Three Times More Debt to Western Banks, Asset Managers, And Oil Traders THANThey do to China and that the Lenders Charged Double The Interest. Debt Justice & RSquo; D of 2020, Nearly 75 Percent of their Total US $ 696 Billion External Debt was owed to non-Chinese private creditors and multilateral institution.

YET A Study Report, Published by the Center on Global Energy Policy at Columbia University and the University of Oxform in June 2022, Debunked the So-Calle d "Chinese depth." This report attribud the debt in the africa to private western holders. "Chinese depbt track "narrate in Africa is a construment of u.s.-china strategic rivalry more than a reflection of group realities.

Capital, in the form of debt repayments, this constinues to flow from africa to Europe and normal AmericaNagpur Investment. The report city estimates of Internetal fin Ancial Institutions that showed sub-Sub-Sub-SAHARAN AFRICA & RSQUO; s Government DebTs to ChineseEnd of 2019. This was just Eight Percent of the Region & RSQUO; S Total Debt of US $ 954 Billion and 18 Percent of Africa & RSQUO; S EXTERNAL Debt.

ROUGHLY HALF of Africa & RSQUO; S Public DEBT WAS DOSSTILLY ISSUED, and the Other Half Was Owed to External Actors. Ilactral Office Partners, One-Third to International Financial Institutes, and One-Third in theFORM of Eurobonds Denominated in a Currency Other than that of the Isuing State.

The Global Development Policy Center at Boston University and The China Africa Research Initiative at Johns Hopkins University Estimated THAT BEIJING HAS LENT ABO UT US $ 150 Billion to the African Countries Since 2000, Mostly Through the China Eximbank (60 Percent) and the China Development Bank (25 Percent).

The Data Showed That CHINESE Lending Was Not Driving A Continent-Wide Expansion of Debt and Was Concentrald in Five Countries: Angola, ETHIOPIA, Kenya AN D ZAABIA. China is Helping Many UnderDeveloped Countries by Jointly Investing with Local Companies to Build Infrastruction in TheBest Interest of the Citizens of the Host Countries by Sharing Both Risk and Profits. For Instance, to Develop the Doral Container, Djibouti BORROWED Million from Seven Banks at an interest rate of nine percent over nine years. by Comparison, ITS FIRSTChinese loan was us US $ 620 Million Over 20 Years at the Interest Rate of 2.85 Percent, With a Seven-Year Grace Period.

Money Owed to China by Various Countries in Africa Is NEGLIGIBLED to What they OWE to Others. Mf than they do to China. Southeast Asian Countries OWE JAPAN Just Under US $ 300 Billion for Infrastic PROJECTSWhile they owina about half of that, less than us $ 150 Billion. Pakistan Owes China About US $ 20 Billion While It Owes Other Countries and The Imf US $ 100 lion.

According to Zimbabwe-Based The HERALD & RSQUO; S reporting, Private Media Journalist are bebing by an outfit information for development T), Which Poses as an Independent Investigative Journalism Center, with Funding from the U.S. Embassy in Harare., Local Journalist Are Sponsored to SMEAR China & RSQUO; S INVESTMENT As Engaging in Malpractors and Violations of Human Rights. Trategic Competition Act of 2021, Which Authorized the "Country CHINESE Influice Fund."FISCAL FREAR FROM FROM TO 2026 WAS Appropriated to Counter the "Malign Influore of the Chinese Communist Party," According to the Act. Port and Train Local Media and Journalist to Investigate The BRI.

The Wall Street Trap

An Expected Project, U.S. Deployment of Debt-Traplomacy to Crush Developing Countries. ons of an eConomic Hitman: How American TOOK OVERD BY JOHN PERKINS, a Game as OLD as Empire: The SecretWorld of Economic Hit Men and the Web of Global Corruption by Steven Hiatt, and Winner TAKE All: China & RSQUO; bisa moyo.

MOYO, An Expert in Global Commodities Markets, wrote that the breadth of China & RSQUO; Economic Hitman and Claimed Many People Like Him Cheated Countries Out of Trillions of Dollars. They Channeled Money from theWorld Bank, The U.S. Agency for International Development (AID), and "AID" Organizations Into The Treasury Conglomites and A Families THAT OL Natural Resources.

Confirming the contention by Perkins, Analysis by Trio of Complex Systems Theorist at the Swiss Federal Institute of Technology In Zurich EXPOSED The NEXUS of a Small Group of Western Companies, Mainly Banks, Controlling The Global Economy. As Early as 2011, The Zurich TeamPulled Details for 43,060 Transnational Companies and the Share Ownerships Linking them from orbis 2007, a database listing 37 Million Companies and Investors. The Work Rev. ealed a core of 1,318 companies with interlock ownerships., They Wee Connected to 20. Although they represented 20 percent of global operating revenues, all appeared to collectively own their shares in the major o f the large blue chip and manUfacturing firms, repreency a further 60 percent of global revenuees.

The Team FURTHER Tracy A "Super-entity" of 147 Tightly Knit Companies. All of their owners heeld by other members of the super-entrance of the topal wealth in the network. In effect, less than one percent of companiesWere to Control 40 Percent of the Entire Network. Mobile Financial Conglomrates, and the Top 20 Included Barclays Bank, JPMorgan Chase & Co., and Goldman SACHS. E trap was never in China, but another deflection by the usual subpects.

The author is a business write at tech media krasia and former chief editor of the indian daily janmabhumi.

Jaipur Investment