12-10-2017, 10:52 PM
*** 11-Dec-17 World View -- China takes control of strategic Hambantota seaport in Sri Lanka, raising concerns in India
This morning's key headlines from GenerationalDynamics.com
****
**** Sri Lanka formally hands its southern seaport Hambantota over to China
****
![[Image: g171210b.jpg]](http://Media.GenerationalDynamics.com/ww2010/g171210b.jpg)
China gives Sri Lanka a check for $292,097,400.00 as the first payment for Hambantota port (Colombo Page)
China on Saturday formally handed control of its southern port of
Hambantota in return for $292,097,400.00, as the first payment
on a 99-year lease.
In 2009, China invested $1.2 billion in the port as part of its
"string of pearls" strategy to surround India with ports accessible to
China's navy. Sri Lanka had expected to repay the debt through
profits earned by the port, but the slowdown in trade throughout the
entire region in the last few years has meant that Sri Lanka has been
unable to repay the debt. The result was that Sri Lanka's government
has been forced to give China a 99-year lease to take over the port.
The announcement in January of this year triggered violent protests by
thousands of Sri Lanka's Buddhist monks and anti-government
protesters. Protestors said that thousands of Sri Lankans will lose
their homes because of the project.
And then thousands of Chinese families will migrant to the land
adjacent to the port, establishing a "Chinese colony" on Sri Lankan
soil that will grow and can never be removed.
Many Sri Lankans are accusing China of having purposely set a "debt
trap" in 2009, loaning money at extremely high interest rates, knowing
that Sri Lanka would be unable to repay the debt, and would be forced
to give away Sri Lankan assets to China.
However, Sri Lanka's prime minister Ranil Wickremesingh sees
the project in a much more positive light:
<QUOTE>"The unity government expects to develop and operate
the Hambantota Port to make it a main port in the Indian Ocean.
... There will be industrialization in the area which will lead to
economic development and promote tourism."
The government pledged to pay the debt taken by the previous
government for these projects loans. With this agreement we have
started to pay back those loans. We are going to develop the
Hambantota port without burdening the masses. We get US$ 300
million today. We deposit this amount in foreign reserves. The
future generation can go forward without a burden. We have taken
steps to make Sri Lanka the hub of the Indian Ocean. We thank the
Chinese government and its representatives at this
occasion."<END QUOTE>
The government will receive another 10 percent, or around $100
million, in a month and another $585 million in six months. Colombo Page (Sri Lanka) and South China Morning Post and The Hindu
****
**** India's alarm grows over spread of China's 'Maritime Silk Road'
****
China's Maritime Silk Road, also known as the "String of Pearls," is a
sea-based network of shipping lanes and port developments throughout
the Pacific and Indian oceans to the Mediterranean Sea and Europe.
The port in Sri Lanka adds to ports that China controls in Myanmar,
Bangladesh, Maldives, Pakistan and Djibouti. China even has a
controlling stake in Greece's port of Piraeus on the Mediterranean
Sea.
India has been increasingly alarmed about being encircled by China's
"One Belt One Road" (OBOR) project, including the Maritime Silk Road.
Sri Lanka has attempted to allay India’s security concerns, Sri Lanka
has repeatedly claimed that no Chinese naval facility would be
permitted. However, India remains concerned that one day China's
influence will reach a point where Sri Lanka can't say no.
This situation has resulted in a new controversy: India wants to buy
the Rajapaksa International Airport, which is adjacent to
the Port of Hambantota.
Rajapaksa International Airport is being called the "world's emptiest
airport." The port is said to be beautiful, and a tourist attraction.
But it's almost completely unused. It has a full complement of
employees, most of whom stand looking bored, but it handles only one
international flight per week. The airport was built along with the
port, and it's part of the financial disaster that has resulted from
the project, and forced Sri Lanka to lease the port to China.
It's not known what India plans to do with the airport, but
it's suspected that India wants to keep it empty to prevent
its use by Chinese warplanes.
The port deal with China was signed almost ten years ago when the
prime minister was Mattala Rajapaksa, who named the airport after
himself. But now his son, Namal Rajapaksa, who an opposition MP who
may one day become prime minister, is demanding that the deal with
India be cancelled, warning that the government should not to allow
the country become a "pawn" in international power politics, saying
that the government decision on the airport would lead to serious
national security and defense implications, with Chinese and Indian
forces in close proximity to one another. India Times and Lowy Institute (Australia) and Press Trust of India
Related Articles
KEYS: Generational Dynamics, Sri Lanka, Hambantota seaport,
China, Maritime Silk Road, String of Pearls,
One Belt One Road, OBOR,
Ranil Wickremesingh, India, Rajapaksa International Airport,
Mattala Rajapaksa, Namal Rajapaksa
Permanent web link to this article
Receive daily World View columns by e-mail
Contribute to Generational Dynamics via PayPal
John J. Xenakis
100 Memorial Drive Apt 8-13A
Cambridge, MA 02142
Phone: 617-864-0010
E-mail: john@GenerationalDynamics.com
Web site: http://www.GenerationalDynamics.com
Forum: http://www.gdxforum.com/forum
Subscribe to World View: http://generationaldynamics.com/subscribe
This morning's key headlines from GenerationalDynamics.com
- Sri Lanka formally hands its southern seaport Hambantota over to China
- India's alarm grows over spread of China's 'Maritime Silk Road'
****
**** Sri Lanka formally hands its southern seaport Hambantota over to China
****
China gives Sri Lanka a check for $292,097,400.00 as the first payment for Hambantota port (Colombo Page)
China on Saturday formally handed control of its southern port of
Hambantota in return for $292,097,400.00, as the first payment
on a 99-year lease.
In 2009, China invested $1.2 billion in the port as part of its
"string of pearls" strategy to surround India with ports accessible to
China's navy. Sri Lanka had expected to repay the debt through
profits earned by the port, but the slowdown in trade throughout the
entire region in the last few years has meant that Sri Lanka has been
unable to repay the debt. The result was that Sri Lanka's government
has been forced to give China a 99-year lease to take over the port.
The announcement in January of this year triggered violent protests by
thousands of Sri Lanka's Buddhist monks and anti-government
protesters. Protestors said that thousands of Sri Lankans will lose
their homes because of the project.
And then thousands of Chinese families will migrant to the land
adjacent to the port, establishing a "Chinese colony" on Sri Lankan
soil that will grow and can never be removed.
Many Sri Lankans are accusing China of having purposely set a "debt
trap" in 2009, loaning money at extremely high interest rates, knowing
that Sri Lanka would be unable to repay the debt, and would be forced
to give away Sri Lankan assets to China.
However, Sri Lanka's prime minister Ranil Wickremesingh sees
the project in a much more positive light:
<QUOTE>"The unity government expects to develop and operate
the Hambantota Port to make it a main port in the Indian Ocean.
... There will be industrialization in the area which will lead to
economic development and promote tourism."
The government pledged to pay the debt taken by the previous
government for these projects loans. With this agreement we have
started to pay back those loans. We are going to develop the
Hambantota port without burdening the masses. We get US$ 300
million today. We deposit this amount in foreign reserves. The
future generation can go forward without a burden. We have taken
steps to make Sri Lanka the hub of the Indian Ocean. We thank the
Chinese government and its representatives at this
occasion."<END QUOTE>
The government will receive another 10 percent, or around $100
million, in a month and another $585 million in six months. Colombo Page (Sri Lanka) and South China Morning Post and The Hindu
****
**** India's alarm grows over spread of China's 'Maritime Silk Road'
****
China's Maritime Silk Road, also known as the "String of Pearls," is a
sea-based network of shipping lanes and port developments throughout
the Pacific and Indian oceans to the Mediterranean Sea and Europe.
The port in Sri Lanka adds to ports that China controls in Myanmar,
Bangladesh, Maldives, Pakistan and Djibouti. China even has a
controlling stake in Greece's port of Piraeus on the Mediterranean
Sea.
India has been increasingly alarmed about being encircled by China's
"One Belt One Road" (OBOR) project, including the Maritime Silk Road.
Sri Lanka has attempted to allay India’s security concerns, Sri Lanka
has repeatedly claimed that no Chinese naval facility would be
permitted. However, India remains concerned that one day China's
influence will reach a point where Sri Lanka can't say no.
This situation has resulted in a new controversy: India wants to buy
the Rajapaksa International Airport, which is adjacent to
the Port of Hambantota.
Rajapaksa International Airport is being called the "world's emptiest
airport." The port is said to be beautiful, and a tourist attraction.
But it's almost completely unused. It has a full complement of
employees, most of whom stand looking bored, but it handles only one
international flight per week. The airport was built along with the
port, and it's part of the financial disaster that has resulted from
the project, and forced Sri Lanka to lease the port to China.
It's not known what India plans to do with the airport, but
it's suspected that India wants to keep it empty to prevent
its use by Chinese warplanes.
The port deal with China was signed almost ten years ago when the
prime minister was Mattala Rajapaksa, who named the airport after
himself. But now his son, Namal Rajapaksa, who an opposition MP who
may one day become prime minister, is demanding that the deal with
India be cancelled, warning that the government should not to allow
the country become a "pawn" in international power politics, saying
that the government decision on the airport would lead to serious
national security and defense implications, with Chinese and Indian
forces in close proximity to one another. India Times and Lowy Institute (Australia) and Press Trust of India
Related Articles
- China takes control of Sri Lanka's strategically valuable Hambantota seaport (06-Aug-2017)
- China launches 'One Belt One Road', raising objections and violent protests (14-May-2017)
- Violent protests in Sri Lanka over China's takeover of Hambantota seaport (08-Jan-2017)
KEYS: Generational Dynamics, Sri Lanka, Hambantota seaport,
China, Maritime Silk Road, String of Pearls,
One Belt One Road, OBOR,
Ranil Wickremesingh, India, Rajapaksa International Airport,
Mattala Rajapaksa, Namal Rajapaksa
Permanent web link to this article
Receive daily World View columns by e-mail
Contribute to Generational Dynamics via PayPal
John J. Xenakis
100 Memorial Drive Apt 8-13A
Cambridge, MA 02142
Phone: 617-864-0010
E-mail: john@GenerationalDynamics.com
Web site: http://www.GenerationalDynamics.com
Forum: http://www.gdxforum.com/forum
Subscribe to World View: http://generationaldynamics.com/subscribe
