World News / First Pak-Sri Lanka and now Bangladesh, know how China is destroying countries

Zoom News : Mar 10, 2024, 08:30 AM
World News: India has always maintained cordial relations with neighboring countries and has also been helping its neighbors from time to time. But on the other hand, whether it is Pakistan or Bangladesh or Myanmar or Sri Lanka, China has earlier built good relations with them and under the guise of those relations is making those countries financially bankrupt. First it provides financial help to those countries and burdens them with debt and then completely paralyzes their economy. If you look at any of the neighboring countries around India, you will find that they have taken loans from China. Actually, China wants to take over South Asia with the power of money, but China has made a strategy for this.

Pakistan is drowning in economic debt. The situation is such that there is no money to run the government. The government and people of Pakistan are in bad shape. Just as the International Monetary Fund has given loan to Pakistan, similarly China has also given financial assistance. But in the form of loan.

A similar picture was seen in Sri Lanka in early 2023. The financial structure in Sri Lanka had completely collapsed. In search of the answer as to why such a terrible financial crisis arose, it is found that Sri Lanka had taken a huge financial loan from China. This time Bangladesh is falling into the same trap.

China traps countries in debt trap

According to statistics, between 2020 and 2021, China has given loans to a total of 165 lower and middle class countries. The debt figure is 1.38 trillion dollars. Russia took the biggest loan from China, 170 billion dollars. Venezuela is in second place. Their loans and grants from China are 113 billion dollars. Pakistan is in third place. The loan amount is around $70 billion. It has also started work on the long-awaited Belt Road project with Pakistan.

However, Western countries complain that this is not China's debt but a death trap. China has trapped economically weak countries in the trap of giving them loans more than their ability to repay. Later, when the country's economy collapsed due to non-payment of loans, China joined hands. Debt-ridden countries surrendered to China. In this way, China is establishing control over one country after another.

How is Bangladesh getting stuck?

Bangladesh's foreign exchange reserves are gradually decreasing. There has been a continuous decline in reserves for the last one and a half years. On the other hand, China has provided financial assistance to Bangladesh in various development projects. From the Padma Bridge to the tunnel under the Karnaphuli River, China has provided financial assistance in various development projects such as the Dhaka Rapid Transit. Naturally, Bangladesh has shown more support to China than the US.

China has said that it will help if needed, because there is concern within the government about the reduction in foreign exchange reserves in Bangladesh. How will this help? China can pay the bills of all those companies which Bangladesh imports from China.

Bangladesh can also provide loan through credit line, but there is a big problem in this case, because Bangladesh has already taken loan from IMF. In such a situation, if they go to take a new loan from China, then there is also the question whether they will accept it or not. But if Bangladesh looks at the situation in India's neighbors Pakistan or Sri Lanka, it will definitely think again about it.