Pakistan owes USD 10 billion debt to China

Washington: Pakistan owes its “all weather friend” China at least USD 10 billion debt for the construction of the Gwadar port and other projects, the top US general has said, as he underlined Beijing’s “predatory economics” to expand its global influence.

The strategic Gwadar Port in Balochistan province on the Arabian Sea is being built by China under the multi-billion China-Pakistan Economic Corridor (CPEC) and is considered to be a link between Beijing’s ambitious One Belt, One Road (OBOR) and Maritime Silk Road projects. The Maldives owes China USD 1.5 billion in debt – about 30 per cent of its GDP – for construction costs, he said.

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