China is now in the mood to take action against Myanmar, examines debt, is angry with BIS refusal to approve plans. Dragon implied Myanmar to surround India. China and Sri Lanka see Pakistan’s situation
China has been investing heavily in neighboring countries for several years to surround India. China’s debt to Sri Lanka grew so much that it had to lease its Hambantota port. Myanmar is now another neighboring country of India targeted by China. China also owes this country billions of dollars. In recent days, Myanmar has strengthened its relations with India, so that China has turned cold. This is why China has started to review the loans granted to this country.
China has billions of dollars in debt on Myanmar
China has lent Myanmar billions of dollars as part of Xi Jinping’s ambitious Mission Belt and Road Initiative (BRI). When China negotiated with Myanmar to start the project, it named it China-Myanmar-Bangladesh-India Economic Corridor. China had dreamed of Myanmar saying that the project would not only develop infrastructure in its country, but also strengthen its economic position.
India only left the BRI
The then-Myanmar military regime came to China and approved the project. Chinese companies then invested heavily in Myanmar. However, India at the time expressed doubts about China’s plan and declined to participate. After that, China changed the name of this project to China Myanmar Economic Corridor.
That’s why China spends billions in Myanmar
In fact, investing in Myanmar was part of a thoughtful Chinese initiative. By this route, he wanted to surround India from the east by investing in several projects in Myanmar. Second, it relies on the Strait of Malacca for its energy needs. With the help of this corridor, he wants to import oil and gas directly from the Indian Ocean to his country. Simultaneously, China is also working on a plan to deploy its navy near the Indian naval base of Andaman and Nicobar.
China invests more in Myanmar than Pakistan
China has invested more than $ 100 billion (22.214.171.124.00 trillion rupees) in Myanmar. As part of this, it plans to build 38 projects in Myanmar, although it has so far obtained approval for only two projects. One of them is Qinphu Deep Water Port and the other is Yangon City Project. Explain that the cost of the China-Pakistan economic project is only $ 62 billion less than that.
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Myanmar bans approval of Chinese projects
Given the situation in Sri Lanka and the China-Pakistan economic corridor, the current Myanmar government has refused to authorize further projects in China. Since then, China has taken an aggressive stance on Myanmar. Recently, he has started to review his debt to Myanmar. Not only that, they donate weapons, missiles and money to militant groups in Myanmar.
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China plays on ‘date trap diplomacy’
China is currently playing “date trap diplomacy” with countries around the world. Thanks to this, China grants loans to foreign countries in the name of the first infrastructure development. When that country is unable to repay that debt, it begins to capture their resources. The last example is Sri Lanka. Who had to cede one of its ports to Hambantota China in exchange for debt.