The way I see it, the Chinese are either extremely stupid or extremely malicious. The big ticket infrastructure projects these guys force loans on (through corruption) are almost always white elephant projects. There’s a reason other multilateral agencies (or mature national aid agencies) don’t fund those easily. Specifically because these is no direct correlation to economic growth.Japanese loans are long term on very low interest rates. Japan will eventually restructure their loans if need be, no point in giving SL more loans knowing fully well it will just end in Chinese coffers.
Even if Japan restructures it's loans today, it won't make ANY difference. On the other hand, Chinese loans are short-medium term with high interest rates. Loans that produced nothing but concrete junk for the country! And their payments are due now!
If China restructures it's loans, it will make a BIG difference.
Do you understand now? No? No problem.
To see an example of yet another debt trap disaster waiting to happen - Gwadar International Airport built on Chinese loan.