CIA chief says Sri Lanka made ‘dumb bets’ on China

CIA chief says Sri Lanka made ‘dumb bets’ on China

CIA chief says Sri Lanka made ‘dumb bets’ on China

Written by Zulfick Farzan

21 Jul, 2022 | 2:15 pm

COLOMBO (News 1st); In a warning to other nations amid economic crisis in Sri Lanka, the US Central Intelligence Agency Director William J. Burn blamed “dumb bets” on high-debt Chinese investment by the island nation as a reason for the collapse of its economy.

“Economically, the Chinese have a lot of weight to throw around and they can make a very appealing case for their investments. In security terms, they are generally a little more cautious, partly because they look at the US experience over the last couple of days in the Middle East and South Asia. That causes them to draw back a little bit too. In parts of the Middle East, they also suffer from the object lessons from a place like Sri Lanka, today. Heavily indebted to China which has made some dumb bets about their economic future and suffering catastrophic economic and political consequences as a result,” he said at the Aspen Security Forum.

The Aspen Security Forum, an annual three-and-a-half day conference in Aspen, Colorado presented by the Aspen Strategy Group, has provided a non-partisan public venue for global leaders to discuss the key national security and foreign policy issues of the day for the past twelve years.

The 2022 Aspen Security Forum will take place July 19-22 in Aspen, Colorado.

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