My Say: In the new Cold War, a 'debt trap' label for Chinese loans

As China increases lending to other developing countries , charges that these loans lead to a " debt trap " are growing quickly. As it greatly augments financing for development while other sources continue to decline, condemnation of China 's loans is being weaponised in the new Cold War. Debt – trap diplomacy? The catchy term " debt – trap diplomacy" was coined by Indian geo-strategist Brahma Chellaney in 2017. According to him, China lends to extract economic or political concessions when a debtor country is unable to meet payment obligations. Thus, it overwhelms poor countries with loans to eventually…