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debt trap

China says no developing country will fall into ‘debt trap’ by cooperating with Beijing

BEIJING: China’s foreign ministry said on Sunday that no developing country would fall into a debt trap simply because of its cooperation with Beijing. Chinese Foreign Ministry spokeswoman Hua Chunying made the comment in an online statement responding to remarks made by U.S. Vice President Mike Pence. “No developing country will fall into debt difficulties because of cooperation with China,” Hua said. “On the contrary, cooperating with China helps these countries raise independent development capabilities and…