Consolidating public debt markets asia
But Sri Lanka's experience with China should not be construed as a state-sponsored conspiracy by Beijing.Just last month, Pakistan withdrew from a US$14 billion mega-dam project under CPEC citing the stringent financing conditions China attached to the proposal.Officials worried that the debt servicing terms lacked adequate transparency and risked making Pakistan too dependent upon Beijing's largesse.The recent turbulence in US-Pakistani relations poses a complex set of questions for New Delhi.
On the one hand, it has enthusiastically welcomed Washington's tough line on Islamabad, hailing the suspension of aid as a long overdue step.
At the same time, India finds itself woefully unprepared to meeting the formidable challenges China's debt trap diplomacy has created for New Delhi.
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