Indonesia owes Beijing more than $US22 billion dollars for projects like the China-built Jakarta-Bandung high-speed-railway. Some critics believe these projects lead countries into China’s “debt trap”.Indonesia ’s financial obligations to China are increasing, and there are worries they will continue to expand. Based on data from Bank Indonesia, debt from Chinese creditors as of March this year stood at US$22.01 billion , an increase from February’s figure of US$20.82 billion.
Many fear this debt to China will put Indonesia at risk of a default like Sri Lanka and Malaysia , the two most widely cited “victims” of China’s “debt-trap diplomacy”. For instance, the Hambantota port in Sri Lanka, often held up as an example of Chinese debt-trap diplomacy, was not actually proposed by Beijing. The project was largely driven by Sri Lankans for their own domestic goals, with minor commercial input from a Chinese state-owned enterprise.
In this context, Indonesia could fall into the same trap if it’s not careful. The current administration of President Joko Widodo , commonly referred to as Jokowi, has been attracted to Chinese investments to fulfil his infrastructure-related electoral promises. The complicated and time-consuming land acquisition process wasn’t completed until 2020, however, as landholders along the route resisted selling, causing the cost of compensation to climb steeply. Other completion delays and cost overruns were suspected to be the result of inadequate government planning.
if u hab plentee of raw minieraw china wud even supply u with space shuttle$