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Anti - government protests in Sri Lanka become more active ? debt - ridden economy to China. Will the OBOR collapse on a global scale?

2022-04-05  Category:Asia

Anti - government protests in Sri Lanka become more active ? debt - ridden economy to China. Will the OBOR collapse on a global scale?

Photo by Deneth17 (licensed under CC BY-SA 3.0)

Anti - government protests in Sri Lanka become more active ? debt - ridden economy to China. Will the OBOR collapse on a global scale?

Photo by Windmemories (licensed under CC BY-SA 4.0)

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Anti-government protests become mob in Sri Lanka

Protests against the government have continued in Sri Lanka, and some are said to have become mobs. It is said that the stress of the people has reached its peak while the tourism industry has been sluggish due to the influence of the corona and the economy is on the verge of a shortage of dollars. President Gotabaya Rajapaksa issued a state of emergency on April 1 and issued a nighttime ban, but the people broke it and demonstrated at night. At the root of the Sri Lankan economy is a large amount of debt to China. Sri Lanka fell into the "debt trap" of China's Belt and Road policy, and Hambantota Harbor became China's concession for 99 years. The Belt and Road Initiative provides non-repayable funds to emerging economies through AIIB to curb trade key points in those countries. If the Belt and Road Initiative is realized, those countries will be prosperous, so it is easy to repay the debt. Therefore, it is theorized that if we borrow money to improve the environment, we can play an important role in the Belt and Road Initiative, but due to the deterioration of US-China relations, the Belt and Road Initiative has run into a deadlock. In other words, only the debt exists.

Sea route to Europe

Deterioration of China-India relations has greatly retreated the Belt and Road Initiative to escape from China to the Indian Ocean. The birth of Myanmar's military junta has been whispered by China's support, allowing China to enter the Bay of Bengal through Myanmar. And Sri Lanka in the southeastern part of India will be a necessary relay point for navigating the Indian Ocean and the Arabian Sea. If the Sri Lankan riots developed and an anti-Chinese government was born, China wouldn't mind. The ocean route south of China could be disrupted.

Ukraine is a key point of land routes

Kyiv, Ukraine, which is currently at war, is a key point north of the Belt and Road Initiative. In June 2020, the "Central Europe Group Line" of the freight line connecting Wuhan and Kiev is operating. Kyiv has become a key link between Europe and China, and the relationship between Ukraine and China has become closer. Ukraine will provide China with former Soviet aircraft carriers, fighters and missiles, and China will provide economic support to Ukraine. China says it got everything it wanted from Ukraine. And China is the number one major trading partner of Ukraine aiming for a de-Russian economy. Ironically, the weapons that are trying to threaten Japan and Taiwan will be obtained by the Chinese army via Ukraine.

Collapse of Belt and Road Policy

China's response to the Ukraine issue is ambiguous because of the Belt and Road policy. The truth is that I didn't want him to have a problem in Kyiv. The northern land route is destroyed by the Ukrainian crisis. And while many Eastern European countries, which I consider tomorrow, are also dependent on the Chinese economy, criticisms are concentrated on China's vague attitude toward the Ukraine issue. If Russia gets Kyiv, Belt and Road will have to partner with Russia. China would think Ukraine is better than Russia, which is difficult to control. On a global scale, the Belt and Road Initiative is heading for collapse for various reasons.