Neo-Colonialism is a way of controlling any country or a part of that country with the help of capitalism, globalisation and cultural forces. Let us see how China is using neo-colonialism to control many developing countries.
Basically, developing countries need money to improve their economy, infrastructure and to create jobs. China has a lot of money and so it offers loan to the developing nations.
Through Belt and Road Initiative project, China is investing in more than 60 countries. We will take about this at the end.
Many countries like Srilanka, Malaysia, South Africa, Maldives, Mongolia, Pakistan etc., received loans from China for their countries development.
But the problem is when these countries fail to repay their loan, China occupies a part of that countries land. The same happened with Srilanka’s Hambantota Port. China took control over the Hambantota port in the form of lease for 99 years.
Currently the same is happening with Kenya’s Mombasa Port. If Kenya doesn’t pay off its debt, China may take over the control of the port. Not only Srilanka and Kenya many nations are facing similar kind of problems and getting into China’s Debt Trap.
Belt and Road Initiative project
Through Belt and Road Initiate project, China is financing for the infrastructure development of many countries. With this, China is trying to establish economic links all over the world. But this 8 Trillion Dollar project is becoming a debt trap for many developing countries and affecting their sovereignty.
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