Debt Crisis: Expert Picks Holes in China BRI Strategy as Nepal Citizens Kick
- S.D. Pradhan, an intelligence expert, has picked holes in the infrastructure investment plan by China in Nepal and other developing countries
- According to Pradhan, the scheme by China tagged Belt and Road Initiative (BRI) is capable of plunging poor countries into a debt crisis
- This is as countries like Nepal have rejected the investment as concerned citizens described the scheme as a "debt trap"
S.D. Pradhan, an intelligence expert, has written an article picking serious holes in the Belt and Road Initiative (BRI), a Chinese infrastructure plan for Nepal, a landlocked country in South Asia.
The BRI was launched by China in 2013 and it aims at developing major trade routes between China and the rest of the world.
Source: Getty Images
But writing in the Times of India, S.D. Pradhan warned that the China BRI could plunge Nepal and developing nations into a debt crisis which he calls a debt trap.
He wrote:
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"There are six important drawbacks of the BRI. First, it is a centrally designed scheme of China for its own economic and strategic interests. Second, neither the interests nor the capabilities f the participating countries have been taken into account. Third, the projects aimed at generating benefits to the Chinese companies and does not generate employment for locals except for the labourers."
"Fourth, the BRI projects do not bother about the sovereignty of nations from where it passes through. Fifth, the BRI is Eurasia focussed and it does not cater to the connectivity needed by the participating countries to other areas.
S.D. Pradhan's submission is slightly in line with an article published by the Chatham House which says the original intention of China is to make developing economies interdependent on China's economy.
Nigeria is one of the countries that have benefited from the China BRI after it joined in 2018.
Experts list tips on how to relocate to the UK
Meanwhile, Legit.ng has listed four tips Nigerians can follow if they want to relocate to the UK.
According to the list, the first step is to get a job in the UK before applying for a visa.
After seeking and finding a job in the UK, one can easily get a work visa from the UK embassy in Nigeria.
Source: Legit.ng
