Amid increasing geopolitical tension between China and India, Sri Lanka is turning to both Asian giants for financial assistance, on the back of the its recent sovereign downgrade by global credit rating agencies for its debt-ridden woes. But while some have accused Sri Lanka of falling into China’s “debt trap, the South Asian nation refuses to put all of its eggs in China’s basket.
What complicates the situation is that Sri Lanka’s friendly relations with China have generated unease for its Indian neighbour, which fought border skirmishes with China across 2020 and 2021. Last December for example, the Chinese government cancelled an energy project in Sri Lanka to be...
¬ Haymarket Media Limited. All rights reserved.
