Taiwan times, Newspaper

China has created financial dependence amongst several South Asian and Southeast Asian countries and has pushed its agenda of establishing commercial bases in the Indian Ocean region to the extent of trading debt with sovereignty, said Taiwan Times weekend editor Lisa Conklin.Conklin in her article titled, "Chinese Footprints On Indian Ocean Shorelines - Sri Lanka" pointed out that in the case of Sri Lanka, the Chinese investment can be perceived "as a classic case of China's imperialistic plans on display, threatening peace and stability not just in Sri Lanka but the entire region itself.""Over the years, China has tried to expand its influence in the Indian Ocean Region (IOR) through its `string of pearls' formula aimed at expanding the country's military and strategic interests under the guise of economic development," the editor wrote in The Taiwan Times.The scribe stated that Sri Lanka has signed an USD 1.1 billion deal to lease 70 per cent of its southern seaport, Hambantota to China Merchants Port Holdings Ltd to handle its commercial operations on a 99-year lease and added that the politicians and locals had opposed the decision.Despite this, in December 2017, Sri Lanka handed over the control of the southern sea port of Hambantota to China amid concerns over China's efforts to expand its influence in the region, according to The Taiwan Times with members of the opposition calling it a "sell out to China".Maithripala Sirisena, the then Sri Lankan President "went on to criticise the deal as robbery in broad daylight and predicted that the country would become a colony of the Chinese."Even Wijeyadasa Rajapakshe, Justice Minister in Sirisena's Cabinet criticised the lease to China as a violation of Constitution and akin to selling national assets, she wrote."While China painted a rosy picture about how Hambantota Port would help the Sri Lankan economy grow, just 175 ships arrived at the port in 2017. With depleting revenue, the island country was unable to repay the Chinese loans and eventually was forced to give China a controlling equity stake," Conklin wrote."It is unfortunate that despite persistent warnings by the international community, Sri Lanka fell into this vicious `debt-trap' gamble. In the process the country has lost its sovereign right over a strategic port leading to huge concerns over the security of independent nations in the region," she added.She further called for the international community to reiterate its commitment to maintaining the sovereignty and independence of nations as equals and assists countries caught in this vicious debt trap laid out by Beijing."With increasing Chinese presence in countries in the South Asian and South-East Asian region, it is time the international community reiterates its commitment to maintaining the sovereignty and independence of nations as equals and assists countries caught in this vicious debt trap from falling prey to one country's imperialistic and predatory tactics," she wrote.This comes after Beijing, in January this year, passed a law that gives power to its coastguard to fire on foreign vessels and demolish structures built in disputed waters.China's territorial claims in the South China Sea and its efforts to advance into the Indian Ocean are seen to have challenged the established rules-based system.( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Taiwan Times, NewsFOLLOW

Taiwan times, Latest News

Microsoft in its 2021 Digital Defense Report revealed that Chinese hackers are targeting political issues and universities in Taiwan and Hong Kong. ...

As China's national legislature plans to rewrite election rules in Hong Kong to ensure that the city is run by 'patriots', the most lingering question of this move is over the concern that Beijing might be rejecting the 'one country two systems' made ...

Since the annexation of Tibet, China has begun its expansionist policy towards its neighbouring countries by using its control over all major rivers flowing out of the Tibetan plateau. ...

In a rare statement about Taiwan, Japan Defense Minister Nobuo Kishi on Saturday (local time) said that the balance of power in the Taiwan Strait is changing in China's favour, reported Taiwan Times. ...

The Tibetan Uprising Day, observed every year on March 10, will mark the 62nd anniversary this year to commemorate the 1959 Tibetan peaceful uprising against Communist China's repression in the Tibetan capital of Lhasa. ...

Ahead of the Financial Action Task Force's plenary meeting scheduled to be held later this month, many countries said that Pakistan has not done enough to be "white-listed" for terror-sponsoring which makes Islamabad's prospects of exiting the grey l ...

China has created financial dependence amongst several South Asian and Southeast Asian countries and has pushed its agenda of establishing commercial bases in the Indian Ocean region to the extent of trading debt with sovereignty, said Taiwan Times w ...