Debt Diplomacy And Sovereignty: Analyzing China’s Belt And Road Initiative In Africa & South Asia

Abstract

Debt diplomacy allows this paper to examine, via China's Belt and Road Initiative (BRI), how national sovereignty in South Asia and Africa has been impacted. The Belt and Road Initia- tive (BRI), which has raised China's global influence by large-scale infrastructure projects funded by Chinese loans, causes some concern about China's political might and the sustain- ability of its debt. Some have expressed worries that in return for more debt they cannot af- ford, recipient countries could be compelled to cede some of their sovereignty. Key cases ex- amined in this paper indicate how financial reliance may become political power: the rail- way project in Kenya and the Hambantota Port in Sri Lanka. Examined are changes in na tional policy or ownership of strategic assets resulting from loan terms, repayment problems, and other circumstances. Using economic data, policy analysis, and international relations theory, this study investigates the exposure of developing countries to the hazards and possi- ble advantages of BRI involvement. Although the Belt and Road Initiative (BRI) shows enor- mous promise for expansion, the paper contends that it also asks for more openness, respon- sibility, and multilateral protections to prevent imbalances in the relationship and questions sovereignty.

Key Words: Debt Diplomacy; Sovereignty; Belt and Road Initiative (BRI); Infrastructure Investment; Geopolitical Influence