One of the easiest ways to get money when you need it right away is to get a payday loan. These loans are available in most places—and online—and they usually advertise how easy it would be to get one. A huge problem with these loans is that they often become debt traps for borrowers. Payday…
China’s Stake in Geopolitically Significant Ports Threaten’s Global Supply Chain: Experts
November 18, 2022
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belt and road initiativeChinaChinese Regimedebt trapInternationalInternational RelationsUS-China relationsWorld
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U.S. President Joe Biden expressed concerns over Chinese military activity and transparency at Cambodia’s Ream Naval Base during a meeting with Cambodian Prime Minister Hun Sen in Phnom Penh, according to a White House press statement on Nov. 12. China responded that its assistance in building the Cambodia port military facility is a “normal activity”…
Annual Inflation in Laos Exceeds 30 Percent in August
Inflation in the Southeast Asian nation of Laos spiked to 30.1 percent on an annual basis last month according to the Lao Statistics Bureau. August inflation was roughly five percentage points higher than the 25.6 percent inflation rate posted in July. In August 2021, inflation was only at 3.81 percent. As such, the August 2022…
Chinese Media Discuss How to Recover Billions in Debt from Bankrupt Sri Lanka
July 21, 2022
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Asia & PacificBelt and RoadBusiness & MarketsChinaChina Business & Economydebt trapeconomic policieseconomyGlobal ExpansionMarketsmilitarySpecial TopicsSri LankaWorld
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Since Sri Lanka announced its bankruptcy, voices in mainland Chinese news media have been scrambling to propose solutions on how to recover billions in investments that the Chinese Communist Party (CCP) loaned to the country through its Belt and Road Initiative, aimed at expanding the communist regime’s infrastructure projects overseas. Sri Lanka, once known as…
Is ‘Learn Now, Pay Later’ Just Another Student Debt Trap
The “Buy Now, Pay Later” (BNLP) transaction is simple: Shoppers are offered an installment loan at the point of purchase, spreading the cost of the product across several payments. They’re often available without a credit check. BNLP financing has become a go-to payment method at most major retailers for everything from clothing and cosmetics to…
UK’s New Aid Strategy Seeks to ‘Challenge Dependency on Malign Actors’
May 17, 2022
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The UK will use international aid to “challenge dependency on malign actors” and “offer honest alternative for low- and middle-income countries,” the Foreign Office has said. Announcing the new International Development Strategy on May 16, Foreign Secretary Liz Truss said the UK must use international aid to achieve its foreign policy goals and counter “malign…
US Should Present Better Alternatives for Africa to Counter China’s Debt-Trap Diplomacy
Commentary African countries should not be left with a “tremendous debt that they cannot repay,” U.S. Secretary of State Antony Blinken said during his visit to the continent in April 2021. The Chinese Communist Party (CCP) is outpacing the United States in investment and trade in Africa. The ongoing lockdowns in Shanghai and other major…
China Revives African Belt and Road Initiative Story, Acts as ‘Colonial Empire’
December 17, 2021
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State media in China republished a story from 2 years ago about a Chinese man who was given the title of a tribal chief in one African country. The story sparked concerns over the Belt and Road Initiative (BRI)—the Chinese Communist Party’s (CCP’s) global infrastructure development strategy—being applied as a part of its expansion into…
China ‘Single Greatest Priority’ for UK’s MI6 Intelligence Agency
November 30, 2021
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The head of Britain’s MI6 intelligence agency said on Tuesday that the Chinese regime poses a “serious challenge” to global peace and has become the “single greatest priority” for his organisation. Speaking at the International Institute for Strategic Studies (IISS) in London, MI6 chief Richard Moore listed China, Russia, Iran, and international terrorism as the…
EU Refuses to Help Pay Off Montenegro’s $1 Billion Loan to China
The European Commission said in Brussels on April 12 that it was not going to help Montenegro to pay off its 1 billion euro loan to China for the unfinished first phase of the Bar-Boljare highway. Montenegro is the first country in Europe to find itself in a debt trap set by the Chinese regime’s Belt…
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