Worried about Chinese influence in South Asia, US warns Pakistan against close ties with China


Islamabad: With Pakistan going through an ever-spiraling economic crisis, the United States (US) fears that the country’s enormous debt to China may turn it into a Chinese satellite state in South Asia.

Traditionally a close ally of the US over its extremely brief history of around seven decades, in recent years Pakistan has become increasingly dominated by China.

“We have been very clear about our concerns not just here in Pakistan, but elsewhere all around the world about Chinese debt, or debt owed to China,” US state department counselor Derek Chollet was quoted as saying by Reuters.

Having provided billions of dollars in loans, China is Pakistan’s largest single creditor.

According to an IMF report which was released in September 2022, with a total bill of $30 billion, China and Chinese commercial banks account for around 30% of Pakistan’s total external debt, which stands at over $100 billion.

A significant portion of that debt has come about due to the China-Pakistan Economic Corridor (CPEC), which is a part of the ambitious Belt and Road Initiative (BRI) project of the Chinese government.

Cholett told the media that the US was trying to persuade Pakistan against a closer relationship with China.

The G7 nations and global multilateral lending institutions have long pushed for broad efforts to deliver debt relief to heavily indebted nations such as Pakistan.

China, now the world’s largest sovereign creditor, is viewed by US treasury secretary Janet Yellen and officials from other G7 nations as a the biggest stumbling block in global debt-relief efforts.

Chollet said the US was working with Pakistan in order help the South Asian country navigate through the current economic crisis.

Read all the Latest News, Trending NewsCricket News, Bollywood News,
India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.

Also Read



Article,4,ASE News,2,Business,23,codecanyon,3,DPR,1,Education / Employment,1,Entertainment,10,IANS – The Siasat Daily,3,India news,4194,Latest news,1,Madhy Pradesh,465,main,19,National,162,News,1,PTI – The Siasat Daily,3,Sports,11,World,22,World News,1958,
Worried about Chinese influence in South Asia, US warns Pakistan against close ties with China
Worried about Chinese influence in South Asia, US warns Pakistan against close ties with China
ASE News
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share to a social network STEP 2: Click the link on your social network Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy Table of Content