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Indo-Pacific nations wavering under weight of China's 'One Belt One Road' (The Mainichi)
November 28, 2018
By Satoshi Matsui
From the article:
MALE, Maldives/HAMBANTOTA, Sri Lanka/NEW DELHI -- As China expands its economic sphere of influence over the Indo-Pacific region under President Xi Jinping's "One Belt One Road" policy, countries receiving financial support to build new infrastructure and other projects hold some expectations. Yet they also harbor apprehension over mounting debts and worries over the transparency and sustainability of these projects.
According to a March 2018 report released by the non-profit American-based think tank Center for Global Development, 23 of the 68 countries along China's "New Silk Road" are at high risk of defaulting on their debts to Beijing. The report warned that there are grave concerns that eight countries, including Pakistan, the Maldives and Djibouti, may find it particularly difficult to pay back the price of being part of One Belt One Road.