Ayieko said that the saying that Chinese loans are the largest component in the debt matrix of borrowing countries is a misconception. "What Chinese loans have done is to diversify these countries' loan portfolios to avert any risk associated with overreliance on one borrower," he said.
Thirdly, BRI cooperation follows the principle of extensive consultation, joint contribution, and shared benefits, which demonstrates BRI cooperation is based on negotiations among parties and is never unilateral. Hence, the "debt trap" rhetoric is highly unfair.
Zambia-based economist Kampamba Shula said China was not trying to dupe participating countries into a debt trap because China does not force itself on any country.
"To insinuate that African countries were being duped into a debt trap is not to be taken seriously," he said.
Leonard Munyandamutsa, a Rwanda-based trade and investment policy expert who specializes in emerging markets investment and trade negotiation, said: "We cannot simply blame China for the increasing debts of some countries because the loans are negotiated by African representatives and given on mutually agreed terms."
Ladislas Ngendahimana, a political analyst and the secretary general of the Rwanda Association of Local Government Authorities, said that business, trade and investments are neutral. The so-called debt trap is more a matter of accountable and responsible leadership on the part of the recipient countries, but China is doing a good thing for Africa.
【国内英语资讯:Xinhua Headlines: Why Belt and Road Initiative is anything but debt trap】相关文章:
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