How Did China Become the World's Biggest Debt Collector? | PW OnlyIAS

How Did China Become the World's Biggest Debt Collector? | PW OnlyIAS

To Get More Information about Online/Offline Courses: https://counselling.pwonlyias.com/qp.... For Inquiries 📞 08071174446 .................................................................................... UPSC CSAT 2025 Batches 👇 UPSC CSAT 2025 - Hindi (Online) - https://physicswallah.onelink.me/ZAZB... UPSC CSAT 2025 - English (Online) - https://physicswallah.onelink.me/ZAZB... UPSC CSAT 2025 - Hindi (Offline) - https://physicswallah.onelink.me/ZAZB... UPSC CSAT 2025 - Hinglish (Offline) - https://physicswallah.onelink.me/ZAZB... UPSC CSAT 2025 - Hinglish (Online) - https://physicswallah.onelink.me/ZAZB... -------------------------------------- SRIJAN 2025 (Prelims + Mains and Mentorship Program) - English Online https://physicswallah.onelink.me/ZAZB... SRIJAN 2025 (Prelims + Mains and Mentorship Program) - Hindi Online https://physicswallah.onelink.me/ZAZB... SRIJAN 2025 (Prelims + Mains and Mentorship Program) - Hindi Offline https://physicswallah.onelink.me/ZAZB... SRIJAN 2025 (Prelims + Mains and Mentorship Program) - English Offline https://physicswallah.onelink.me/ZAZB... ------------------------------------------------------- Introduction to China's Global Influence China has emerged as one of the most powerful economic forces globally, not just due to its manufacturing prowess, but also due to its growing control over global debt. The Belt and Road Initiative (BRI) A significant factor in China’s debt collection strategy is its Belt and Road Initiative (BRI). Through BRI, China has been investing heavily in infrastructure projects across the world, offering loans to developing countries. Loans and Debt Traps Many countries in Africa, Asia, and Latin America have taken loans from China for projects like roads, ports, and railways. However, these countries often struggle to repay, leading to what is called "debt-trap diplomacy," where China takes control of key assets, such as ports, as collateral. China's Influence on Global Economy With billions in loans distributed to more than 140 countries, China’s debt collection has led to greater political and economic influence globally. This has raised concerns about the long-term sustainability of these loans and the geopolitical power China could wield. The Case of Sri Lanka and Other Countries Sri Lanka’s debt crisis in 2017, where it had to lease its Hambantota port to China for 99 years after failing to repay loans, is one of the most notable examples. Similar situations have been witnessed in countries like Pakistan, Zambia, and Djibouti. China's Role in the Global Economy As the world's largest creditor, China is not only shaping the global financial system but also using debt as a strategic tool to expand its geopolitical footprint. Understanding this is crucial for countries engaging in financial agreements with China. Criticism and Concerns While China’s financial muscle has lifted many economies, critics argue that it’s creating a new kind of colonialism, with countries falling into China's debt trap. The video explores the implications for global financial governance. --- #ChinaDebt, #BeltAndRoadInitiative, #DebtTrapDiplomacy, #ChinaEconomy, #GlobalDebtCollector, #SriLankaDebt, #DebtCollectionChina, #GlobalInfluence, #EconomicPower, #ChinaLoans, #DebtPolitics, #BRIImpact, #ChinaDebtCollector, #GlobalFinancialPower, #ChinaStrategy, #DebtTrap, #ChinaInAfrica, #ChinaPakistanDebt, #DebtDiplomacy, #SustainabilityOfDebt, #ChinaVsWorld China debt collector, Belt and Road Initiative, China loans, global debt, debt trap diplomacy, China economic strategy, Sri Lanka China debt, debt trap, Pakistan China loans, Zambia debt crisis, Hambantota port, China influence, China global economy, global financial crisis, China economic expansion, China's geopolitical power, debt traps in Africa, China debt collection, global finance, BRI China impact, economic dominance, China financial influence. #pwonlyias #onlyias #pw