Pak boxed in, Xi Jinping's debt-trap behind spiralling crisis; People fight to make ends meet
Debt-laden Pakistan's economy is in dire straits & the country is facing a balance of payment crisis. The situation continues to spiral downward with no fix in sight & the China hand is starkly visible. At the expense of Pak citizens, Chinese firms are cornering big gains from the so-called China-Pak Economic Corridor. Islamabad reportedly owes over 300BN Pakistani rupees to Chinese firms operating in the country. Pending dues, 24+ Chinese firms (independent power producers) have threatened to cease power plant operations. After pinning down Pak in a tough situation, the Chinese are now complaining about taxation & visa issues. A few months back, china said the CPEC project might be halted till Pakistan honours previous agreements.
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