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Debt Trapping Answers

Debt Trapping Answers

No link to debt trapping. China won’t provide new loans to countries that aren’t able to repay. Their evidence is old

Bloomberg News, 8-14, 19,, , China’s Belt and Road Is Getting a Reboot. Here’s Why

Signs of a more cautious approach have emerged — at least around its debt exposure. China has withheld some $4.9 billion in new loans for a major rail project it had been building in eastern Africa. The line was supposed to run from the Kenyan port city of Mombasa to Uganda and beyond, but only the stretch from the coast to Nairobi is done. China balked at funding the extension amid concerns that Kenya was at risk of debt distress. Revenue from the railway is supposed to repay the initial $3.6 billion loan, but critics say it won’t turn a profit for a long time. RWR Advisory Group, a Washington-based consulting firm, reported that the Export Import Bank of China backed out of providing financing for a giant solar project due to the Zimbabwean government’s legacy debts.

Turn (Vs. Debt Trapping): Western model fails and impoverishes the developing world. Billions will remain in extreme poverty without an alternative

Pankaj Mishra, Oc

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