America+says+Sri+Lanka+victim+to+China%E2%80%99s+predatory+loans
Saturday, 16 March 2019 - 18:43
America says Sri Lanka victim to China’s predatory loans
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General Joseph Dunford, Chairman of US Joint Chiefs of Staff, told a Senate Armed Services Committee meeting that Sri Lanka granting China a 99-year lease and 70 per cent stake in its deep-water port is an example of Beijing's "predatory economics" to expand its global influence.

He further added that Pakistan owes China at least 10 billion US Dollars for the construction of the Gwadar port and other projects, while the Maldives owes China roughly 1.5 billion US Dollars, about 30 per cent of its GDP - for construction costs.

General Joseph Dunford further stated that China is diligently building an international network of coercion through predatory economics to expand its sphere of influence, and added that nations around the globe are discovering the hard way that China's economic "friendship" via One Belt, One Road (OBOR) and Maritime Silk Road projects which can come at "a steep cost" when promises of investment go unfulfilled and international standards and safeguards are ignored.
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