China’s efforts in the Caribbean Latin America are part of its global strategy to forge deep economic ties and strong diplomatic relationships around the world. Also, it might be an endeavour from Taiwain being recognised as a state (= Montevideo Agreement), which is in an ambiguous geopolitical postion. The ‘mask diplomacy’ actually is used not only to facilitate investments in that region, but also for building up goodwill [China Extends Reach in the Caribbean, Unsettling the U.S.]. At the moment around 20 countries in that region recognise China and have no representation in Taiwan. It seems that the president-elect or -candidate might have his work cut out for him.
In April, the World Bank and the G20 finance ministers endorsed the Debt Service Suspension Initiative, to provide the poorest countries with fiscal space to manage the impact of the pandemic. Key elements are debt relief and restructuring. In contrast to the current condition where the aforementioned find that the Chinese lending contracts have high-interest and are not transparent. The author suggests that China should focus more on international debt management [China Faces Mounting Pressure to Restructure Developing-World Loans].
Ali Çikmazkara
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