Tag: Debt Trap

The Sri Lankan Fiasco – Economic Crisis leading to a Political Crisis: An Early Warning or Alarming Call in South Asia?
Analysis, Asia, Featured, World

The Sri Lankan Fiasco – Economic Crisis leading to a Political Crisis: An Early Warning or Alarming Call in South Asia?

Protestors opposed the Gotabaya government with the slogan 'Gota Go Home' in response to Sri Lankan President Gotabaya Rajapaksa's mismanagement, corruption, nepotism, and bad governance.Relations between India and Sri Lanka deteriorated under Mahinda Rajapaksa's administration while the President utilised Chinese funding to gain local legitimacy and strengthen his hold on power. Keeping with India's "neighbourhood first" policy, New Delhi has donated over USD 3.5 billion in aid to the people of Sri Lanka this year alone to help them overcome their current difficulties.India must acknowledge the Chinese presence and significance of Sri Lanka in its strategic plan and help the island nation come out of this situation. Introduction Sri Lanka, an Indian Ocean Island nation with abo...
BRI: Economic Connectivity or a Debt-Trap?
Analysis, Asia, Featured, World

BRI: Economic Connectivity or a Debt-Trap?

BRI plays a significant role in the rise of China.Connects the Chinese economy with Asia, Europe and African markets.The involvement of Pakistan and other South Asian countries in BRI is a major concern for India.China is expanding Debt-Trap diplomacy through Belt and Road initiative.Many countries involved in BRI are witnessing economic crises, including Sri Lanka and Pakistan in South Asia. The Belt and Road Initiative (BRI), formerly known as One Belt One Road (OBOR), is a worldwide infrastructure development project launched by the Chinese government in 2013 to invest in over 150 countries. BRI is a transcontinental long-term policy and investment programme that intends to expand infrastructure and accelerate the economic integration of countries along the historic Silk Road...
Sri Lanka | Economic Migration during the Crisis & Impact on India
Analysis, Asia, Featured

Sri Lanka | Economic Migration during the Crisis & Impact on India

"Migration expresses the human aspiration for dignity, safety and a better future. It is a part of the social fabric and our very make-up as a human family." – Ban Ki-moon Moving to another territorial entity from one’s homeland is often viewed positively. Nonetheless, given the current world order, lessons and impact cannot be understood without mentioning the prevailing crises in different countries. One such case is Sri Lanka’s current Economic and Political Crisis. Being atrocious, it resulted in a total amount of economic migration. It was, for sure, their pressing priority as Sri Lankans to resort to nothing but migrating to foreign nations to sustain themselves. Their humongous debt and forex catastrophe acted as the crux of this crisis. It was influenced by several factors,...