India is trying to outdo China in its alacrity to provide financial help to Sri Lanka, which is running dangerously low on foreign reserves to service its debt.
Caught in a 'strategic trap'
"One, it will set a bad precedent for other nations who have borrowed from China," he told CNBC from Colombo."And two, it will associate China with failure because the Sri Lankan economic model was based on China's."Sri Lanka adopted the Chinese model of infrastructure-led growth in the early 2000s on the premise that it would generate jobs and usher in prosperity.
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