Attention Nepal! China’s screws on Laos, made ‘slave’ by getting into debt trap
new Delhi. For India’s closest friend and neighbor Nepal, this news is enough to caution. Indeed, China has made Laos a victim of debt trap diplomacy (a conspiracy to enslave debt).
Let me tell you that these days Nepal is also sitting in China’s dock and showing eyes to India. At the same time, China has an old history that it has spread its debt trap and made its victims of small countries. Not only this, he has a dispute with each neighbor about the border.
Talking about Laos, China has so much debt on it that it does not understand how it came out of this crisis. According to a report, since Laos is not in a position to repay the debt, China has seized its power grid.
According to the information, the power grid shareholding deal was recently signed by the local company (Laos) and China’s Southern Power Grid. It is being told that after this the grid has come under the control of China.
This is how China makes hunting: China makes small countries its prey through the Belt and Road Project. First he gives them a large amount of debt, after that when the respective country is unable to repay the loan, then he takes over his assets in a way. Laos faces the risk of loan defaulters.
Moody’s also downgraded Laos to a junk state. China has not only brought but has entangled about a dozen countries in the web of its debt policy. No wonder Nepal’s name will also be added to this list in the coming times.