Cambodian Deputy Prime Minister Defends China‘s Belt and Road Initiativeโ as ‘Lifeline’ for Advancement
HONG โKONG – Cambodia‘s deputy โPrime Minister Sun Chanthol emphatically rejected accusations that China’s Belt and Road Initiative (BRI) constitutes a “debt trap” for developing nations, asserting wednesday that the infrastructure program has been instrumental in โhis country’s economic advancement. Speaking at the Belt and โRoad Summit in Hong Kong, Chanthol highlighted roads, an airport, an expressway, and a planned canal – all โprojects fundedโ through โthe BRI -โค as โbeneficial to theโ Cambodian people.
“The โbelt and Road Initiative isโ not a โขdebt โtrap. I repeat, โit’s not a โdebt trap,”โค Chanthol stated โขto an audience of โคhundreds. “Onโค the contrary, it is a lifeline for [our] social and economic development. โคIt is โaโ strategic investment towards Cambodia’s long-term future.” The comments come amidโ ongoing debate regarding the initiative’s impact โon โคrecipient countries and their financial stability.
The Belt and Road Initiative,โ launched โขby Chinese โขPresident Xi Jinping, is a โคmassive infrastructure strategy aimed โat โฃimproving regional โขconnectivity and accelerating tradeโค across Asia, Africa,โ andโ Europe. It has faced scrutiny from Western governmentsโ andโข media,who allege it saddles participating countries withโ unsustainable debt,potentially leading toโค loss of controlโฃ over strategic assets.The term “debt-trap diplomacy” gained prominence in 2017, โfueled by reports of Sri Lanka leasing its Hambantota port to a Chineseโ company for 99 years after struggling to repay loans used โfor its construction.
In a โseparate statement โon Wednesday,โ President Xi Jinping reaffirmed china’s commitment to an “open world economy” and expanding high-level opening-up, according โขto state newsโ agency Xinhua, in a letter to the china International Fair for Trade in Services. He pledged to align with internationalโ economic and trade rules โฃand further open China’s โservice market.