Prime Minister Modi signalled India’s willingness to engage with China when during an interview with Newsweek in April this year he mentioned that ‘stable and peaceful relations between India and China are important for not just our two countries but the entire region and world.
The recent Parliamentary elections in the Maldives have sent ripples across the Indian Ocean, signalling a potential recalibration of diplomatic ties in the region.
Repaying Chinese loans is not easy because unlike other official lenders such as the World Bank that provide finance at concessional, below-market interest rates, and longer tenures, China tends to lend at market terms, at interest rates close to those prevailing in private capital markets. Additionally, the Chinese insist on collateral, meaning that debt repayments are secured by assets or future revenues.
India has been opposing China's BRI as its key project -- China-Pakistan Economic Corridor (CPEC) -- passes through the Indian territory of Jammu and Kashmir under the illegal occupation of Pakistan.
China is about to celebrate ten years of its infrastructure building Belt and Road Initiative BRI) a symbol of its rise as a global power and a defining feature of its foreign policy which it touts as its gift to the world it claims to have created more than 420,000 lakh jobs and lifted 40 million people out of poverty.
On the heels of China's announcement on the debt treatment agreement for nearly $4.2 billion debts, Sri Lanka President Ranil Wickremesinghe left for China on Sunday night.
In the shadow of the Afghan conflict’s ever-shifting sands, China has made a calculated move that reverberates not just within…
“China will encourage its businesses to invest no less than $10 billion in Africa in the next three years and will establish a platform for China-Africa private investment promotion.”
The second challenge arises from the fact that most B3W investments would be from the private sector, intending to seek profits within new markets.
In a first meeting involving the four countries, the Chinese Foreign Minister proposed the four-point action plan including consolidating the consensus on unity and fight against the pandemic, avoiding politicisation and stigmatisation of the coronavirus and firmly support the World Health Organization (WHO) in playing its due role to jointly building global health community.
