West Enables China’s Suffocating Embrace of the Sri Lankan Economy

West Enables China’s Suffocating Embrace of the Sri Lankan EconomyWith Sri Lanka still emerging from the ruins of a 26 year civil war that ended in 2009, the government in Colombo is once again turning to China as the only option at its disposal to modernize the economy by introducing sweeping infrastructural development projects. The story of the Sri Lankan capital’s hopes to transform…

Breaking Sri Lanka’s Economic Gridlock

Breaking Sri Lanka’s Economic GridlockThe Sri Lankan economy appears to exist in a system that can evolve only through crisis. Optimistic policymakers, predicting that the country’s economic trajectory would self-correct, received a collective wake-up call in February with a sovereign rating downgrade by Fitch, even as the country made a formal approach to the IMF for a bailout package. Despite growing signs…

China’s Herd of Sri Lankan White Elephants

China’s Herd of Sri Lankan White ElephantsChinese investment in Sri Lanka is causing major problems for Sri Lanka’s President Mathripala Sirisena and has become a point of tension in Sri Lanka–China relations. Before taking office, Sirisena promised that he would look into alleged corruption, stating he would investigate how Sri Lanka is “being obtained by foreigners by paying ransom to a…