Xi Makes Insolvent Friends Wait for Bailout
A demonstration against the economic crisis at the entrance of the president's office in Colombo, Sri Lanka, on April 11.
Photographer: ISHARA S. KODIKARA/AFPThe U.S. has often accused China of using “debt diplomacy” to make developing nations more dependent on Beijing.
Yet the case of Sri Lanka and Pakistan — both friends of China facing dire financial situations as inflation soars — shows that President Xi Jinping is becoming more reluctant to pull out the checkbook.