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Don’t Let China Snag Another Foreign Port, Senators Warn

“A bipartisan group of senators is calling on the Trump administration to counter China’s economic expansion as the lawmakers fear that Beijing plans to leverage its foreign investments and lending for infrastructure projects into strategic military footholds. Georgia Republican David Perdue, along with 15 other senators, raised the issue in a Friday letter to Secretary of State Mike Pompeo and Treasury Secretary Steve Mnuchin. The letter details how China uses its so-called debt-trap diplomacy to nurture dependence and extract strategic concessions from its borrowers. In the letter, the lawmakers call on the Cabinet secretaries to work with the International Monetary Fund — a lending institution that has lent money to countries facing significant debt to China — to offer alternatives to Chinese credit when developing countries are in need of infrastructure financing.”

Source: Don’t Let China Snag Another Foreign Port, Senators Warn

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