China s current share of Maldives total debt is 37% and there are fears that FTA will further increase debt share, pushing Maldives into a Sri Lanka-type crisis, ET has learnt. The Covid pandemic, notwithstanding India s generous assistance to the island nation, has dented Maldivian economy, according to observers.
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Jakarta, May 2: Indonesia, the largest economy in Southeast Asia has grown its debt to China over time and used more Chinese yuan in its international trade. Indonesia will find it more challenging to fend off China s escalating aggression in the South China Sea as it becomes more dependent on China, Nepal-based online magazine e-Pardafas reported.
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China s debt diplomacy has also hurt Sri Lanka in the past.Beijing has been using its economic leverage to negotiate deals with Pakistan in the energy sector