• Bloomberg


Over the past few years, the U.S. has accused China of using “debt diplomacy” to make developing nations across the world more dependent on Beijing.

Yet the cases of Sri Lanka and Pakistan — both friends of China facing dire financial situations as inflation soars — show that Chinese President Xi Jinping’s government is becoming more reluctant to pull out the checkbook. China still hasn’t made good on a pledge to re-issue loans totaling $4 billion (¥501.26 billion) that Pakistan repaid in late March, and it hasn’t responded to Sri Lanka’s plea for $2.5 billion in credit support.

Unable to view this article?

This could be due to a conflict with your ad-blocking or security software.

Please add japantimes.co.jp and piano.io to your list of allowed sites.

If this does not resolve the issue or you are unable to add the domains to your allowlist, please see out this support page.

We humbly apologize for the inconvenience.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.