On Monday (1st September), India did not extend support to the ‘Belt and Road Initiative’ (BRI) of China at the Shanghao Cooperation Summit (SCO) held in Tianjin.
The Communist regime in China has been infamous for pushing developing nations into its vicious debt trap by lending out money for investment projects and later using it to ensnare the sovereignty and strategic assets of the nation.
One of the biggest infrastructure projects that China has been pushing down the throat of its debtor States is the Belt and Road Initiative (BRI).
The global infrastructure project is also known as One Road One Belt (OBOR) and has been dubbed as the ‘project of the century’ by Chinese Premier Xi Jinping.
“BRI loans continue until a borrower nation faces a debt crisis, which then arms China with considerable leverage to wrest political and economic concessions…The more desperate a borrower’s situation, the higher the interest rates China will seek to impose,” a report by Center for European Policy Analysis (CEPA) stated.
