Rangoon: To encircle India, China has been investing heavily in neighboring countries for the last several years. On Sri Lanka, China’s debt increased so much that it had to lease its Hambantota port. Now China is targeting another neighbor of India, Myanmar. China also owes billions of dollars to this country. In recent times, Myanmar has strengthened its relations with India, while China has become chilly. That is why China has started reviewing the loans given to this country.
China has lent billions of dollars to Myanmar under Xi Jinping’s ambitious Mission Belt and Road Initiative (BRI). When China negotiated with Myanmar to start this project, it named it China-Myanmar-Bangladesh-India Economic Corridor. China had dreamed of Myanmar saying that the project would not only develop infrastructure in its country but also strengthen its economic position.
China invests in Myanmar
China has invested more than $100 billion (Rs. 73,83,41,50,00,000 billion) in Myanmar. Under this, he is planning to build 38 projects in Myanmar, although so far he has got approval for only two projects. One of these is the Kyungfu Deepwater Sea Port and the other is the Yangon City project. Explain that the cost of the China-Pakistan economic project is only 62 billion less than this. Given the situation in the Sri Lanka-China-Pakistan Economic Corridor, the current Myanmar government has refused to allow China to do the rest of the projects. Since then, China has been taking an aggressive stance towards Myanmar. In recent times, it has begun reviewing its debt to Myanmar. Not only that, he is giving arms, missiles, and money to extremist groups in Myanmar.
