China accused of unleashing a ‘full-blown catastrophe upon smaller nations’ at UN I Watch

Several countries in South Asia are struggling to repay China’s loans lent at exorbitant rates or on tough terms. Countries like Sri Lanka and Pakistan have suffered the worst consequences of accepting Chinese loans. While it is common knowledge that China lends money with clear intentions of taking over important projects like ports, mines, and other strategic infrastructure in countries it lends money to. so far the world hasn’t been able to offer smaller countries a better alternative. Given how China uses underhanded methods like bribing local politicians to ensure that countries end up taking loans from China on its terms rather than going to global lending institutions like IMF or World Bank. Recently, it was called out for its predatory lending practices at UNHRC. Watch.