Beijing is about to discover, just as DC did in the 1970s/80s, that loans to the Global South for infrastructure, made during a time of low real interest rates & a commodity boom, are not going to be paid back. As before, this will be painful for everyone. https://t.co/JoKnaNVFIl
"#China grabbed Hambantota port because Sri Lanka was unable to service the debt." This is still circulating, even among China and development experts, although it has long been debunked, including by Sri Lankan economists.A🧵w/t relevant research - and why it matters.