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Who is causing debt trap in underdeveloped countries?

This year marks the 10th anniversary of the Belt and Road Initiative and has witnessed the launch of the Jakarta-Bandung High-Speed Railway.

However, some Western media are hyping up the so-called “Chinese debt trap diplomacy”.

Who is causing the debt trap in underdeveloped countries?

Hussein Askary, Vice-Chairman of the Belt and Road Institute, told GDToday that China and the BRI are the solution to the financial crisis in many countries. In contrast, debt from Western institutions is often incurred to resolve trade and fiscal deficits, which means it is not used in anything productive but simply to pay old liabilities. That is the real debt trap.

No matter how the US smears the BRI, the good deed speaks louder than lip service.

Reporter | Sherry Lyn (intern), Steven Yuen, Lydia Liu, Rofel Ding

Video editor | Chen Nana (intern)

Editor | Wing

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