Chinese port project could land Myanmar in debt trap
The Myanmar town of Kyaukpyu, nestled around a small fishing port on the Bay of Bengal, has the air of a place expecting to get rich soon. In the market, stalls of seafood unloaded from wooden fishing boats have been joined by stacks of Chinese-made toys and smartphones.
[…]”The real danger of the port is that its extreme expense could lead the Myanmar government to take out an unsustainable level of debt,” said Mr Greg Poling, director of the Asia Maritime Transparency Initiative, at the Centre for Strategic and International Studies in Washington. “That… could, in the coming years, lead to a debt trap.”
