Top 10 countries of world which are in China's debt trap, 3 of them are India's neighbours, their names are..., Bangladesh is not....
Chinese President Xi Jinping
China's debt trap: We all have heard stories on how the People's Republic of China under the leadership of President Xi Jinping has offered 'unproductive' loans and later trapped them for not paying them on time but do you know the fact that three of India's neighbours are struck in China's debt trap. It is known in India that only countries like Sri Lanka and Pakistan have been influenced by the debt game of China but here is a list of countries which have been caught under its debt trap policy.
Pakistan is one of the courtiers which has faced massive pressure of Chinese loans in the recent decade. As per the data of International Monetary Fund (IMF) data, Chinese debt accounts for 23% of Pakistan's total foreign debt. More notably, most of the Chinese debt to Pakistan is under the Under the China-Pakistan Economic Corridor (CPEC) initiative, where China has invested more than $65 billions since 2013.
The second country on the list is Maldives. An archipelago nation in the Indian Ocean, Maldives has been in news for the anti-India activities due to the massive influence China has created in the country with its loans.
The third country on the list is Laos. The South East Asian country has been under the debt influence of China as China has provided it with a large amount of debt, making it a large part of its GDP.
Due to the vast availability of mineral resources, China's neigbour, Mongolia has also found itself heavy reliance on Chinese loans.
The next country on the list is Djibouti, the Small East African nation which has taken massive loans for its ports and military base development, is now under China's debt trap.
Next country on the list is a African country called Angola. The country took loans from China for oil and infrastructure development but is now under a trap.
Other than these countries, Sri Lanka, Venezuela, Cambodia and Kenya are also among the countries which are in top 10 list of taking debt from China.
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