India MUST worry about Maldives falling into Chinese debt trap?
In this video, we will discuss about the importance on Maldives for Chinese Belt and Road initiative.
References -
https://timesofindia.indiatimes.com/india/Chinas-stepped-up-moves-in-Maldives-worry-India/articleshow/10294868.cms
https://thediplomat.com/2017/04/will-saudi-investment-be-the-spark-to-ignite-the-maldives-political-tinderbox/
https://timesofindia.indiatimes.com/india/china-role-in-indian-ocean-region-india-discusses-maldives-turmoil-with-us/articleshow/61514665.cms
https://en.wikipedia.org/wiki/Maldives
https://en.wikipedia.org/wiki/China%E2%80%93Maldives_relations
http://maldivesindependent.com/business/maldives-pays-us271m-in-damages-to-indias-gmr-127767
http://www.huffingtonpost.in/jhinuk-chowdhury/maldives-helping-china-co_b_8695656.html
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Transcript -
Hello Friends, I welcome you with a new video on my channel Real Quick Info.
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Now Lets discuss about today's topic.
Friends, when we discuss about China, we often remain focused on China Pakistan Economic Corridor project, which is only a small part of Chinese mega Belt and Road Initiative.
Maritime Silk Route is in fact bigger part of Belt and Road Initiative.
In this context, lets discuss about a Maldives, which is South Asian island country, located in the Indian Ocean. It lies southwest of Sri Lanka and India.
Significantly, Maldives has endorsed Chinese Maritime silk road.
In the 2013, election Abdulla Yameen became the president of Maldives. He introduced engagement with China, and he yet to show any friendship with India.
You may recall, one of his first acts was to cancel a contract granted to the Indian company G m, r by his predecessor Nasheed government for the upgrades of the Maale air port. Interestingly, He gave the same contract to Chinese firm.
In late 2016, Maldives had to pay $271 Million in damages to GM,R for the abrupt termination of the contract. There are reports suspecting, that China actually paid this amount.
Lets talk about importance of Maldives. In the north of it, there is maritime channel through which annually $18 Trillion worth of goods are transported with 70,000 ships crossing through it.
Chinese submarines have always wanted to use this channel and recently in 2016, Maldives disregarded Indian concerns and granted permission to three Chinese warships.
In 2011, there were reports of China trying to build naval submarine base in northern Maldives island Marao. but there are no confirmation on the existence of such Chinese base.
Recently, the main concern is Chinese presence in upcoming Transshipment port i, Havan project in the northern Maldives.
Obviously , for china, this project is better idea than having a naval base in Marao.
We need not tell you, The Economic and strategic importance of this upcoming port.
Alarmingly, China is providing huge financial aid at very high interest rate, which Maldives will be having very difficulty to pay back.
The memory of Hambantota port is very fresh in our mind, its not very unlikely that China will simply relax loan conditions in exchange of control rights over this transshipment port.
China has mastered the art of reclaiming land from the sea, its just matter of time, this i, havan project will be up and ready.
The real concern is, if china ends up getting the leasing rights of this port. It will be very alarming scenario for all of us.
Maldives has valid development needs, but efforts need to be made to prevent its falling in to Chinese debt trap. The problem gets bigger here, because Maldives government doesn't have ability to foresee the obvious Chinese design.
Moreover, it should rather learn itself with what recently happened with Hambantota port. In this background, India should not waste time to engage closely with America, Japan and Australia to provide sustainable financing options for the developmental needs of Maldives and other nations in the region. Otherwise, we can continue to sleep and the day will come when all countries will have to check with China before using this strategic channel in Indian ocean. That could be turn out to be real threat to Freedom of navigation in Indian ocean.
As per your views, what India should do to avoid Maldives falling in to Chinese debt trap? please let us know your views in comment section.
For this video we have referred a few online articles. you can find their links in the description box below. Friends, we Thank you for watching this video!
Tags
Maldives,
One Belt and One Road initiative,
Belt and Road initiative,
China Pakistan Economic Corridor,
CPEC,
OBOR,
BRI,
ihavan project,
Chinese naval base in Maldives,
Chinese submarine base in Maldives,
Chinese presence in ihavan project,
Hambantota port,
Maldives falling into Chinese debt Trap,
Maldives China relationship,
China Maldives relationship,
India Maldives relationship,
Importance of Maldives in Indian ocean,
Modi,
Nitin Gadkari,
Chinese String of Pearls strategy,
We hope, you will like this video. Please Let us share Real Quick Analysis with you in future as well, so please subscribe our channel Real Quick Info. Please don't forget to click on Bell icon as well to get notification, as soon as we upload interesting new video.
Now Lets discuss about today's topic.
Friends, when we discuss about China, we often remain focused on China Pakistan Economic Corridor project, which is only a small part of Chinese mega Belt and Road Initiative.
Maritime Silk Route is in fact bigger part of Belt and Road Initiative.
In this context, lets discuss about a Maldives, which is South Asian island country, located in the Indian Ocean. It lies southwest of Sri Lanka and India.
Significantly, Maldives has endorsed Chinese Maritime silk road.
In the 2013, election Abdulla Yameen became the president of Maldives. He introduced engagement with China, and he yet to show any friendship with India.
You may recall, one of his first acts was to cancel a contract granted to the Indian company G m, r by his predecessor Nasheed government for the upgrades of the Maale air port. Interestingly, He gave the same contract to Chinese firm.
In late 2016, Maldives had to pay $271 Million in damages to GM,R for the abrupt termination of the contract. There are reports suspecting, that China actually paid this amount.
Lets talk about importance of Maldives. In the north of it, there is maritime channel through which annually $18 Trillion worth of goods are transported with 70,000 ships crossing through it.
Chinese submarines have always wanted to use this channel and recently in 2016, Maldives disregarded Indian concerns and granted permission to three Chinese warships.
In 2011, there were reports of China trying to build naval submarine base in northern Maldives island Marao. but there are no confirmation on the existence of such Chinese base.
Recently, the main concern is Chinese presence in upcoming Transshipment port i, Havan project in the northern Maldives.
Obviously , for china, this project is better idea than having a naval base in Marao.
We need not tell you, The Economic and strategic importance of this upcoming port.
Alarmingly, China is providing huge financial aid at very high interest rate, which Maldives will be having very difficulty to pay back.
The memory of Hambantota port is very fresh in our mind, its not very unlikely that China will simply relax loan conditions in exchange of control rights over this transshipment port.
China has mastered the art of reclaiming land from the sea, its just matter of time, this i, havan project will be up and ready.
The real concern is, if china ends up getting the leasing rights of this port. It will be very alarming scenario for all of us.
Maldives has valid development needs, but efforts need to be made to prevent its falling in to Chinese debt trap. The problem gets bigger here, because Maldives government doesn't have ability to foresee the obvious Chinese design.
Moreover, it should rather learn itself with what recently happened with Hambantota port. In this background, India should not waste time to engage closely with America, Japan and Australia to provide sustainable financing options for the developmental needs of Maldives and other nations in the region. Otherwise, we can continue to sleep and the day will come when all countries will have to check with China before using this strategic channel in Indian ocean. That could be turn out to be real threat to Freedom of navigation in Indian ocean.
As per your views, what India should do to avoid Maldives falling in to Chinese debt trap? please let us know your views in comment section.
For this video we have referred a few online articles. you can find their links in the description box below. Friends, we Thank you for watching this video!
Tags
Maldives,
One Belt and One Road initiative,
Belt and Road initiative,
China Pakistan Economic Corridor,
CPEC,
OBOR,
BRI,
ihavan project,
Chinese naval base in Maldives,
Chinese submarine base in Maldives,
Chinese presence in ihavan project,
Hambantota port,
Maldives falling into Chinese debt Trap,
Maldives China relationship,
China Maldives relationship,
India Maldives relationship,
Importance of Maldives in Indian ocean,
Modi,
Nitin Gadkari,
Chinese String of Pearls strategy,
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