Myanmar moves closer to China

Warm ties: A file picture showing Xi (left) and Suu Kyi shaking hands before a bilateral meeting at the Presidential Palace in Naypyidaw. In his talks with Suu Kyi, Xi called for efforts from both sides to implement the multi-billion dollar CMEC, mooted in 2017 — AFP

KUALA LUMPUR: Ahead of the official visit of Chinese President Xi Jinping to Myanmar on Jan 17 and Jan18, there was a resurgence of warnings by analysts on the risk of debt trap that could be created by mega projects under China’s Belt and Road Initiative (BRI) for developing countries.

Since the launch of the trillion-dollar BRI by Xi in 2013, the US and Europe have incessantly warned countries embracing BRI of the risk of surrendering their sovereignty over their properties, if they could not repay loans to Beijing for the projects.