India is misrepresenting China’s Belt and Road Initiative aid as a ‘debt trap’: Global Times
India is supposedly slandering China’s Belt and Road Initiative aid (BRI) project to promote their own affiliation with Western partners
On 21 February 2022 Global Times, a Chinese newspaper under the People's Daily, published an article titled India's 'debt trap' slandering against Chinese BRI aid is laughable written by Wang Yi. Here is an excerpt from that article.
During the 2022 Munich Security Conference (MSC) which concluded on Sunday, Indian External Affairs Minister Subrahmanyam Jaishankar warned countries of the "debt trap" created by Chinese assistance, saying "We have seen countries, including in our region, being saddled with large debts."
Jaishankar cautioned countries on accepting China's financial assistance.
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However, Bangladesh's foreign minister Abul Kalam Abdul Momen, who attended the discussion, told a different story about China's help. It is the aid from other partners that came with a lot of strings, Momen said.
India's anti-China forces have long played a role in the slandering campaign against the mutually beneficial economic cooperation between China and South Asian countries. Jaishankar's latest hypocritical warning about a "debt trap" is nothing but another geopolitical gimmick.
Leaders of many Asian countries have repeatedly noted that China's assistance has served to greatly boost their economic growth and improve their people's livelihood.
China is the top foreign investor in Bangladesh's economic zones, the Financial Express reported, citing data from the Bangladesh Economic Zones Authority (BEZA). Some politicians in India apparently regard South Asian countries such as Bangladesh and Sri Lanka as India's spheres of influence and regard China as India's geopolitical rival.
For the same geopolitical purpose and hostility against China, India has also refused to join regional economic cooperation and free trade agreements such as the Regional Comprehensive Economic Partnership (RCEP).
Yet, Indian officials' political manipulations like the "debt trap" slandering cannot hijack the economic laws and the trend toward greater economic integration and globalisation. During a speech at the MSC, Chinese State Councillor and Foreign Minister Wang Yi warned of the dangers of division and confrontation in the world.
It is hoped that India can give up regional meddling and actively participate in Asian economic cooperation to boost regional prosperity in the post-Covid era.
