China converted the debt to equity.. They are running the port which still services the Sri Lankan economy. [/quote]
After reading this, yes, China started with a smart strategy for buying influence. However, over time, they’re going to run into issues with all the debt financing and blowback from local population (maybe not in the next 10 years, but eventually). Also, the also are causing the Indians to look at tighter alliances with US/Australia.
I also agree the US subsides many things, just not in a systematic way like China. Part of the assumed outcome of China entering the WTO was that they would open their economy and move towards a more western model of global trade. Now that they are not, actually they have turned more protectionist and closed than in the past 10 years, coupled with the negative geo-political implications (Tawian, NK, South China Sea, A2AD weapons, etc), the US needs to change the what & how we subsidize. China is not moving off their 2025 plan to increase technology independence. Essentially move to an economic Cold War where development, technology & education, economic growth, and trade are the main peer competitions.
