As Sri Lanka’s foreign debt rocketed and foreign exchange reserves dwindled over the last decade for a variety of reasons – including an overnight shift to organic farming, repayment of massive Chinese loans, and a shift toward a domestic economy rather than an export-oriented economy – India stepped in to rescue Sri Lanka by extending it $1.4 billion in trade credit.
As Sri Lanka’s foreign debt ballooned and foreign exchange reserves dwindled over the last decade for a variety of reasons – including an overnight shift to organic farming, repayment of massive Chinese loans, and a shift toward a domestic economy rather than an export-oriented economy – India stepped in to rescue Sri Lanka by extending it $1.4 billion in trade credit.
Jaishankar will attend a BIMSTEC meeting in Colombo this week, while Wang Yi will likely discuss his journey through Pakistan, Afghanistan, India, and Nepal upon his return to Beijing.
The Chinese clearly want Modi to attend the BRICS summit in China later this year, which is why Wang Yi invited himself to Delhi. According to Global Times, “China and India should avoid allowing the border issue to define or influence the bilateral relationship’s overall development,” which essentially means that India should learn to coexist with Chinese troops in forwarding positions along the Ladakh-Aladakh corridor. Delhi will certainly not accept that.
Why does the issue matter?: Delhi will certainly not accept that. Indian Prime Minister Narendra Modi’s participation at the BRICS summit will be a major factor in the ongoing negotiations on border disengagement.
As long as Chinese soldiers remain on the LAC in Ladakh, should India’s prime minister visit China or not? Is it possible for Modi, supported by South Asia’s increased support for India, to take on Beijing?
Published By :- Tarsem Singh
Edited By :- Khushi Thakur
