By Xuan Loc Doan
From the article:
During a state visit to China last month, Malaysian Prime Minister Mahathir Mohamad warned against what he called “a new version of colonialism,” which was seen as a rebuke to China’s increasing economic and political dominance in the region.
The accusation that China is pursuing neo-colonialism and debt diplomacy, especially through its global trade and infrastructure projects under the trillion-dollar Belt and Road Initiative (BRI), has been made by others.
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Pakistan, another South Asian nation, is also faced with the same dilemma as there are question marks over its ability to repay colossal Chinese loans related to the $62-billion China-Pakistan Economic Corridor (CPEC), another key component of China’s BRI. In fact, according to the Center for Global Development, it is one of the eight most vulnerable to debt distress due to BRI-related financing.
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