China’s One Belt One Road Debt Trap Diplomacy Snaps Shut

John Perkin’s New Novel:


With a global economic downturn hitting poor and developing countries, people are beginning to worry about mass defaults on Chinese development loans and the seizing of foreign assets and property that were put up as collateral for those loans. This problem spans from El Salvador and their debt financed dam to Djibouti and Pakistan. The question is how merciful China will be and whether these loans will be renegotiated or foreclosed upon.