Wednesday 3rd April

The Spotlight

Hello Everyone!

My name’s Abena and I’m currently an A Level Student in year 12 studying Business, Economics and Mathematics with the hopes of pursuing an Economics/finance related career in the future.

I have a passion for understanding economic relationships between countries and am always searching for news stories that excite me as such. For my first contribution to Girl Economics, I focused on a more personal story, as being of Sri Lankan ethnicity myself, I felt passionate to bring the spotlight onto it’s current economic situations.

Outside of School, I enjoy spending my time immersing myself in the South Indian Classical Dance Bharathanatiyam as well as reading books that engage my mind- currently I’ve been sucked into a Steven Levitt Classic, Freakonomics, an exciting read from which I’m hoping to explore economic thinking further :)

I am excited to be contributing to Girl Economics and cannot wait to read the articles to come!

The Deep-dive

The Topic

Over recent years, numerous articles have accumulated, alleging that China is intentionally fostering a debt trap. This is where countries become economically reliant on Chinese lending, often repaying through assets such as infrastructure.

One notable case is Sri Lanka's handover of its Hambantota Port to China on a 99-year lease in 2017, sparking a wave of debt trap accusations. Despite China's persistent denial of such claims, it has faced relentless criticism, particularly from U.S. articles employing negative terminology to underscore and potentially vilify China's lending practices.

However, a deeper analysis reveals nuances. Sri Lanka, already grappling with a debt crisis, saw 13% of its total debt owed to China by 2016. The strategic location of the Hambantota Port may have offered China economic advantages, but crucially, it was Sri Lanka that sought funding, to which China responded favourably.

While some argue that China's continued lending to Sri Lanka, despite being aware of its economic struggles, others point to the corruption within Sri Lanka's political landscape as a key factor exacerbating the country's economic downfall. This corruption prioritised unsustainable development for personal gains over the long-term well-being of the nation—a clear manifestation of greed with dire consequences. As China's investments in Sri Lanka persist, questions linger about its growing influence and the extent to which Sri Lankan citizens endorse this deepening involvement amidst ongoing economic challenges and political turmoil.

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5. Is London Nightlife Dying?