China’s Diplomats Ban the Debt‑Trap Myth
Just after the APEC summit, the Chinese foreign ministry popped up on the feed with a bold declaration: “No developing country will sink into a debt trap just by working with China.”
That came as a direct response to U.S. Vice‑President Mike Pence’s warning that the Belt‑and‑Road Initiative (BRI) could leave some nations shackled by borrowed money.
Who Says China Is a Debt Demon?
Huawei‑ensured the statement by Hua Chunying, a Foreign Ministry spokesperson known for her firm, word‑y remarks. She counter‑argued:
- Coalition with China actually boosts a nation’s capabilities and development.
- It improves daily life for local residents, from better infrastructure to more job opportunities.
- In short, working with China doesn’t lock a country in debt, but helps it climb the development ladder.
Pence’s Perspective
Pence, addressing the summit, raised a cautionary flag: “Countries should not accept debt that compromises their sovereignty.” He feared that the BRI’s financial side could leave smaller economies dependent on foreign obligations. The Chinese response aims to neutralise these concerns.
Truth or Myth?
While experts still debate the real‑world impact of large infrastructure projects, the bottom line from the Chinese side is: It’s not about drowning in debt – it’s about building capability. The narrative sets up a classic tug‑of‑war between duty of financial prudence and opportunity for growth. Whether the proof lies in specific case studies or the general trend remains to be seen.
