New Strategy for Europe & Asia Intercontinental Relations
The European Union is preparing a strategy for the development of interactions between Europe and Asia, capable of competing with the New Silk Road protecting small states from debts to China that they will be unable to pay. The strategy will be presented to the leaders of the largest states at the summit to be held next month.
Therefore, the improvement of the New Silk Road position leads to an increase in the obligations of some countries to China, creating long-term debt traps. The first time these concerns were expressed last year when Sri Lanka was forced to transfer a large port to Beijing for a 99-year lease because it was unable to pay the debts to the amount of USD $1.4 billion.
Some countries are beginning to realise that by sending all their goods along the New Silk Road, they are becoming dependent on China.