How China is buying the world

Editor’s Note: This piece by Steven Mosher features quotes from CSP Senior Fellow Grant Newsham.

Last week, Ranil Wickremesinghe, who became president of the island nation of Sri Lanka last summer, was finally able to succeed where his beleaguered predecessor had failed: An agreement with the International Monetary Fund (IMF) to reschedule $3 billion in debt.

The deal will provide Sri Lanka with an additional four years to satisfy its IMF obligations, which are crippling the nation with inflation.

It’s a good start, but the MIF deal does nothing to mitigate the country’s real debt burden, the nearly $7.5 billion it owes to China.

…

Critics say that what China has done in Djibouti signals what it eventually would like to do with all the ports, railroads, airports and other infrastructure it has built around the world in recent years.

“China is building up the global port and airfield infrastructure – along with the political influence – that will eventually give the PLA access to facilities throughout the world and allow a global military presence,” says Col. Grant Newsham, the author of “When China Attacks.”

“Just like America has,” he says.

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