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Debt-trap diplomacy [1] is a term introduced by Brahma Chellaney (Professor of Strategic Studies at the Centre for Policy Research) in 2017 to explain his analysis of China's One Belt, One Road Initiative or Belt and Road Initiative. Professor Chellaney describes his "debt-trap diplomacy" term as developing nations coming under China's influence when they are not able to pay back the substantial loans granted by China as part of its Belt and Road Initiative (BRI). Discussions associated with the term "debt-trap diplomacy" regarding China's BRI concept have been principally characterized as either reality or a myth [2] [3] [4] [5].
Chinese President Xi Jinping officially announced the Belt and Road Initiative (BRI) during his September 2013 visit to Kazakhstan and October 2013 visit to Indonesia. Referenced by the Chinese Academy of Social Sciences' Central Asian studies scholar Sun Zhuangzhi as the "new Silk Road" that will "revitalize" the Central Asian civilizations, [6] President Xi envisioned BRI as a collection of infrastructure projects that would stretch from East Asia to Europe. [7] [8] [9] [10] [11] Indeed, President Xi called the initiative the "project of the century." [12]
A decade before President Xi's formal BRI announcement, China had already begun a trend of rising exports to a group of BRI countries indicated in Figure 1: Xi Jinping's Belt and Road Initiative. [10] The map (Figure 1) shows in general the countries that may be recipients of China's BRI loans although there is no definite or official list of projects of the Belt and Road Initiative. [12] [13] [14]
The World Bank explains the China BRI as "a China-led effort to improve connectivity and regional co-operation on a trans-continental scale through large-scale investments." [12]
In President Xi's speech during his 7 September 2013 visit to Kazakhstan, he proposed the BRI concept for the first time -- a trans-Eurasian effort spreading from the Pacific Ocean to the Baltic Sea -- that would enable China and Central Asian countries to build an "economic belt along the Silk Road." [6] Highlights from his speech explain his vision and goals:
President Xi focused his inaugural BRI speech on economic and infrastructure benefits and improvements, while Yao Peisheng (China's former ambassador to Kazakhstan) said Xi's proposed economic belt will also encompass political and culture efforts that are beyond the economic goals. [6]
Professor Brahma Chellaney explains his "debt-trap diplomacy" term as developing nations coming under China's influence when they are not able to pay back the loans granted by China as part of its Belt and Road Initiative (BRI). Chellaney explains that nations already in debt are willing to borrow from China because it is relatively easy to do as compared to borrowing from other nations or international venues such as the International Monetary Fund. [15] Chellaney warns the risk to BRI recipient nations is that they may fall into China's debt-trap diplomacy. [1] [15]
New Delhi-based geostrategist and author Brahma Chellaney created the term, "debt-trap diplomacy" in 2017 [1] to explain the China and President Xi's BRI effort. Chellaney contends that China:
In a study conducted under the auspices of the Chatham House - International Affairs Think Tank, researchers Lee Jones and Shahar Hameiri calls the "debt-trap diplomacy" concept a myth. [16] Instead, Jones and Hameiri outlines that China's BRI is not a "well thought-out Chinese grand strategy" [16] because:
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cite journal}}
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help)
{{
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: CS1 maint: url-status (
link)
This is the sandbox page where you will draft your initial Wikipedia contribution.
If you're starting a new article, you can develop it here until it's ready to go live. If you're working on improvements to an existing article, copy only one section at a time of the article to this sandbox to work on, and be sure to use an edit summary linking to the article you copied from. Do not copy over the entire article. You can find additional instructions here. Remember to save your work regularly using the "Publish page" button. (It just means 'save'; it will still be in the sandbox.) You can add bold formatting to your additions to differentiate them from existing content. |
Debt-trap diplomacy [1] is a term introduced by Brahma Chellaney (Professor of Strategic Studies at the Centre for Policy Research) in 2017 to explain his analysis of China's One Belt, One Road Initiative or Belt and Road Initiative. Professor Chellaney describes his "debt-trap diplomacy" term as developing nations coming under China's influence when they are not able to pay back the substantial loans granted by China as part of its Belt and Road Initiative (BRI). Discussions associated with the term "debt-trap diplomacy" regarding China's BRI concept have been principally characterized as either reality or a myth [2] [3] [4] [5].
Chinese President Xi Jinping officially announced the Belt and Road Initiative (BRI) during his September 2013 visit to Kazakhstan and October 2013 visit to Indonesia. Referenced by the Chinese Academy of Social Sciences' Central Asian studies scholar Sun Zhuangzhi as the "new Silk Road" that will "revitalize" the Central Asian civilizations, [6] President Xi envisioned BRI as a collection of infrastructure projects that would stretch from East Asia to Europe. [7] [8] [9] [10] [11] Indeed, President Xi called the initiative the "project of the century." [12]
A decade before President Xi's formal BRI announcement, China had already begun a trend of rising exports to a group of BRI countries indicated in Figure 1: Xi Jinping's Belt and Road Initiative. [10] The map (Figure 1) shows in general the countries that may be recipients of China's BRI loans although there is no definite or official list of projects of the Belt and Road Initiative. [12] [13] [14]
The World Bank explains the China BRI as "a China-led effort to improve connectivity and regional co-operation on a trans-continental scale through large-scale investments." [12]
In President Xi's speech during his 7 September 2013 visit to Kazakhstan, he proposed the BRI concept for the first time -- a trans-Eurasian effort spreading from the Pacific Ocean to the Baltic Sea -- that would enable China and Central Asian countries to build an "economic belt along the Silk Road." [6] Highlights from his speech explain his vision and goals:
President Xi focused his inaugural BRI speech on economic and infrastructure benefits and improvements, while Yao Peisheng (China's former ambassador to Kazakhstan) said Xi's proposed economic belt will also encompass political and culture efforts that are beyond the economic goals. [6]
Professor Brahma Chellaney explains his "debt-trap diplomacy" term as developing nations coming under China's influence when they are not able to pay back the loans granted by China as part of its Belt and Road Initiative (BRI). Chellaney explains that nations already in debt are willing to borrow from China because it is relatively easy to do as compared to borrowing from other nations or international venues such as the International Monetary Fund. [15] Chellaney warns the risk to BRI recipient nations is that they may fall into China's debt-trap diplomacy. [1] [15]
New Delhi-based geostrategist and author Brahma Chellaney created the term, "debt-trap diplomacy" in 2017 [1] to explain the China and President Xi's BRI effort. Chellaney contends that China:
In a study conducted under the auspices of the Chatham House - International Affairs Think Tank, researchers Lee Jones and Shahar Hameiri calls the "debt-trap diplomacy" concept a myth. [16] Instead, Jones and Hameiri outlines that China's BRI is not a "well thought-out Chinese grand strategy" [16] because:
{{
cite journal}}
: Cite journal requires |journal=
(
help)
{{
cite web}}
: CS1 maint: url-status (
link)