The PRC has been using developing nations as pawns in its bid for influence against the US, exploiting poor countries under the guise of helping them. Currently the world's largest government creditor to such nations, Beijing now accounts for nearly half of these loans, which often come at high-interest rates. As the bill is coming due, China once again reveals its greed and the predatory nature of its so-called financial cooperation.
The West has been spreading ill-founded narratives about China's alleged “debt trap diplomacy" for years — a myth that has three blatant problems: China doesn't unilaterally dictate the BRI projects to other countries, its development financing is largely recipient-driven through bilateral interactions and deals, and it has never seized an asset because a country defaulted on a loan. The real debt trap has been carried out by the IMF and World Bank.