America-China clash over Sri Lanka

China has responded to the statement made by Mrs Samantha Power, head of the American Agency for International Development in New Delhi, that China’s non-transparent lending for Sri Lanka’s infrastructure is a major factor behind the current crisis engulfing Sri Lanka.

Mr Zhao Lijian, the spokesperson of the Chinese Foreign Ministry, said in a press conference that due to Chinese investments, Sri Lanka’s economic development has reached a fast and advanced level.

China-Sri Lanka practical cooperation has always been conducted by Sri Lanka in a scientific and planned manner, the spokesperson of the Chinese Foreign Ministry points out.

He emphasized that there will be no political interference in these investments. Mr Zhao Lijian points out that China’s foreign loans are much lower than international capital markets and multilateral development banks.

The spokesperson of the Chinese Foreign Ministry points out that the loans were given according to the need for the upliftment of the living standards of Sri Lankans and the development of infrastructure, at low interest and on the basis of long-term maturity.

 However, China’s foreign ministry spokesperson Mr. Zhao Lijian has said that many developed countries such as Sri Lanka were affected through things such as the raising of interest rates by America.

Mr. Zhao Lijian, who says that the developing countries have come under severe economic pressure, has pointed out that the sanctions imposed by America from time to time have a negative effect on third world countries.

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