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Development, Debt, and Distress : Examining challenges to China’s Belt and Road Initiative through an analysis of Sri Lanka’s Debt Crisis

Rosendal Ebbesen, Tabita LU (2022) In ThinkChina 9. p.1-13
Abstract
What can the situation in Sri Lanka tell us about China’s “Belt and Road” Initiative (BRI)? During Sri Lanka’s ongoing economic crisis, China initially seemed to take a step back, leaving everyone to wonder whether the Chinese Communist Party (CCP) would agree to restructure its debt in Sri Lanka. If Beijing agreed to help its “friend in need”, what would this entail for other BRI countries seeking to restructure their debt in response to the COVID-19 pandemic? This article gives an overview of some of the trends currently affecting the BRI, and relates them to the challenges China faces on both the national and international level. In so doing, it addresses perceptions of China’s “responsibility” in Sri Lanka’s current situation,... (More)
What can the situation in Sri Lanka tell us about China’s “Belt and Road” Initiative (BRI)? During Sri Lanka’s ongoing economic crisis, China initially seemed to take a step back, leaving everyone to wonder whether the Chinese Communist Party (CCP) would agree to restructure its debt in Sri Lanka. If Beijing agreed to help its “friend in need”, what would this entail for other BRI countries seeking to restructure their debt in response to the COVID-19 pandemic? This article gives an overview of some of the trends currently affecting the BRI, and relates them to the challenges China faces on both the national and international level. In so doing, it addresses perceptions of China’s “responsibility” in Sri Lanka’s current situation, including the question of Chinese “debt-trap diplomacy”, and sheds light on some of the potential roadblocks for the future of Chinese BRI investments. (Less)
Please use this url to cite or link to this publication:
author
organization
publishing date
type
Contribution to journal
publication status
published
subject
keywords
China, Sri Lanka, Belt and Road Initiative, debt crisis, debt sustainability, international relations
in
ThinkChina
volume
9
pages
13 pages
project
Fragmented Power: Contemporary Chinese Governance Practices of the 21st Century Maritime Silk Road
language
English
LU publication?
yes
id
9f9133e4-0133-44af-a366-3e7af4dca519
alternative location
https://www.thinkchina.ku.dk/documents/analysis/Development__Debt__and_Distress.pdf
date added to LUP
2022-09-20 15:39:32
date last changed
2025-04-04 14:54:54
@misc{9f9133e4-0133-44af-a366-3e7af4dca519,
  abstract     = {{What can the situation in Sri Lanka tell us about China’s “Belt and Road” Initiative (BRI)? During Sri Lanka’s ongoing economic crisis, China initially seemed to take a step back, leaving everyone to wonder whether the Chinese Communist Party (CCP) would agree to restructure its debt in Sri Lanka. If Beijing agreed to help its “friend in need”, what would this entail for other BRI countries seeking to restructure their debt in response to the COVID-19 pandemic? This article gives an overview of some of the trends currently affecting the BRI, and relates them to the challenges China faces on both the national and international level. In so doing, it addresses perceptions of China’s “responsibility” in Sri Lanka’s current situation, including the question of Chinese “debt-trap diplomacy”, and sheds light on some of the potential roadblocks for the future of Chinese BRI investments.}},
  author       = {{Rosendal Ebbesen, Tabita}},
  keywords     = {{China; Sri Lanka; Belt and Road Initiative; debt crisis; debt sustainability; international relations}},
  language     = {{eng}},
  month        = {{09}},
  pages        = {{1--13}},
  series       = {{ThinkChina}},
  title        = {{Development, Debt, and Distress : Examining challenges to China’s Belt and Road Initiative through an analysis of Sri Lanka’s Debt Crisis}},
  url          = {{https://www.thinkchina.ku.dk/documents/analysis/Development__Debt__and_Distress.pdf}},
  volume       = {{9}},
  year         = {{2022}},
}