Sri Lankan Politico-Economical Crisis 2022

[mulj]

If they are not able to manage their own country at minimum levels demanded for stable society they should think to join either India or Bangladesh.

 

[Faqirze]

Yeah their Members of Parliament are being killed, the house of the Prime Minister razed to ground, protests in every city

Its a sporadic bout of violence, compare this to the TLP shitshow we had last year. It will probably get under control soon, I still fail to see how that's akin to a humanitarian disaster that needs the assistance of a even more failing economy like Pakistan. I hope to god it doesn't come to that point (which it wont)

The currency devaluation to unprecedented level and every Sri Lankan I met in London was complaining about the worst economic crisis in their history and you think everything is fine?

Currency devaluation isn't akin to a humanitarian disaster that needs international assistance. It isn't a mass famine, Pakistan is also suffering from inflation but are we suffering from a humanitarian crisis?

Sri Lanka is among the very few countries in the world who declared bankruptcy, I hope you know that

Imran Khan also admitted and virtually declared bankruptcy, you act as if the average citizen in that country is starving to death on the street and the country is undergoing an Afghanistan tier famine. The poverty rate over there is like 3% or something

 

[Wood]

If they are not able to manage their own country at minimum levels demanded for stable society they should think to join either India or Bangladesh.

.. this is a terrible idea for all parties involved. Not only does Sri Lanka carry a big financial debt, it also carries a lot of nationalism. These people have been through a civil war recently and have a strong sense of national identity. Best case scenario for neighbors of Sri Lanka is to help the country recover economically as soon as possible. South Asian countries can better trade with each other and replace external trade partners for their own mutual benefit. Prosper together and respect each others sovereignty.

 

[mulj]

.. this is a terrible idea for all parties involved. Not only does Sri Lanka carry a big financial debt, it also carries a lot of nationalism. These people have been through a civil war recently and have a strong sense of national identity. Best case scenario for neighbors of Sri Lanka is to help the country recover economically as soon as possible. South Asian countries can better trade with each other and replace external trade partners for their own mutual benefit. Prosper together and respect each others sovereignty.

That could work to probably with some sort of political commintment towards regional coperation but i have impression, someone from region can correct me if i am wrong, that they are cursed like lot of other communities in areas were natural habitual conditions are abundant, they probably do not have to much ambitions to strive.

 

[Maula Jatt]

If they are not able to manage their own country at minimum levels demanded for stable society they should think to join either India or Bangladesh.

Nations go through tough times all the times
Doesn't mean you end the whole thing because of it

 

[Faqirze]

Already a thread running on this, but its crazy how they managed to burn his HOUSE down. Where the hell is the security? napping in the midst of a nationwide riot?

 

[Wood]

That could work to probably with some sort of political commintment towards regional coperation but i have impression, someone from region can correct me if i am wrong, that they are cursed like lot of other communities in areas were natural habitual conditions are abundant, they probably do not have to much ambitions to strive.

Interesting view. I've also felt that people from the temperate and equatorial climate zone did not have to struggle early on. This has stifled the culture for innovation. Regardless of the veracity in this hypothesis, Sri Lanka is here to stay.

Regional cooperation between South Asian countries is in the 'fair' category outside the India-Pakistan equation. There are plenty of historical reasons behind this, but I don't want to write an essay. A lot can be improved and I hope that there is an improvement in future

 

[Bengal71]

I hope Pakistanis do the same to showbaz, zardari and nawaj's houses.

 

[Rank]

 

[JX-1]

I hope Pakistanis do the same to showbaz, zardari and nawaj's houses.

Too many houses, most of them undocumented

 

[Faqirze]

I hope Pakistanis do the same to showbaz, zardari and nawaj's houses.

I think the riot is a preplanned setup, it would be much less shameful and embarrassing for the PM to resign out of "fear for his life" from rioters then to outright resign in the midst of the economic crisis. Its also extremely suspect how his house had no security (if some random rioters managed to torch it to the ground then anything can happen) and that the rioting started out of nowhere

 

[LakeHawk180]

corruption is the culprit, not Chinese. No amount of even US FDI can help. See Afghanistan. Stop demonising Chinese soft loans and investment.

Have you ever stopped to wonder perhaps it’s the fact that Chinese prefer to incentivise corruption to get one sided deals is what leads to this total systemic failure within those client states?

US/west learned this the hard way — which is why you see institutions like the UN, USAID etc insist on transparency, adequate due diligence, audit, governance and internal/external oversight when disbursing aid (in countries they actually want to see develop).

 

[HydraChess]

With famine, conquests, pandemics and other natural disasters, it is quite a fairytale that his descendants survive 2300 years later much less thrive politically.

Well, ALL those who are living right now must have had some ancesstors 2300 years back, right? So whats so "fairytale" about it? Its not as if we pop'ed out of no where on this planet.

As a proportion of foreign debt for Sri Lanka, Japan, WB and ADB holds more than China. China hold about 10% of total foreign debt for Sri Lanka. It's foolish to blame chinese for sri lanka's problems.

Its a question of what investments as well. Look at where the money was put?

Chinese loans come with strict policy about whom you can hire to build and what you can build. Its a trap!

 

[Maula Jatt]

Remember Ashoka lived 2300 years back. Family tree spreads over time. And yes he shed a lot of blood though he realised his foolishness --which is what ultimately made in great. Unlike Mughals who were simply too stupid.

You fell to Ashoka s propaganda campaign

 

[Goenitz]

Have you ever stopped to wonder perhaps it’s the fact that Chinese prefer to incentivise corruption to get one sided deals is what leads to this total systemic failure within those client states?

US/west learned this the hard way — which is why you see institutions like the UN, USAID etc insist on transparency, adequate due diligence, audit, governance and internal/external oversight when disbursing aid (in countries they actually want to see develop).

Every country who invest in developing country think of bribe, local sensitivities, and risk of no return.
China model is economic model. It does trade with the US and also took US debt in the form of treasuary bonds. Similarly, China invest in Australia. It is just that tarde brings some corruption along with it bcz some locals or some chinese want to take advantage of it.

Like in Pakistan. Chinese power companies made very one sided contracts. First, bcz no one wanted to invest in Pak so, Pak govt gave them very lucarative profit to come here. Second, our politicians wanted kickbacks so they signed those deals. Chinese govt even apprehendid Chinese national in one project bcz that company earned enormous profit. It was Pak govt which gave NOC to release him.