The XI's Province Creditor Imperialism

The rise of China as a major contributor to the world GDP and it's overseas operations in recent
years had startled the world. China's geostrategic operations have sent cautionary blaring signs,
especially to smaller economies that usually depend on external forces other than major institutions
for loans and mortgages. The Debt Trap Diplomacy of China has received several massive criticisms
mainly from the west for its high-interest rate and covert loan terms, continuously having also been
criticised for luring poorer economies into their debt trap and inflicting unreasonable trade terms
upon the indebted countries which fail to return the loan in the stipulated time. A sense of fear has
ushered in through, taking countries aback from seeking aid in fear of modern colonialism. One such
infamous incident occurred in 2017 when a 70 percent stake of Sri Lanka's Hambantota Port was
leased to China Merchants Port Holdings Company Ltd. for a period of 99 years for $1.12 billion
when Sri Lanka failed to pay back the loan to Exim Bank of China. Several other countries which fell
into the Chinese debt trap are Pakistan, Indonesia, Tajikistan, Kyrgyzstan, Cameroon, Congo,
Ethiopia, Kenya, Mozambique and Zambia. The question arises, why do they seek aid from a country
which doesn't bring in ethical intentions?