Geopolitics

The Rare Earths trap : How debt and geopolitics are consuming Sri Lanka - CADTM

Source: CADTM

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DW NOTE

Sri Lanka's rare earths deposits looked like a development windfall until Beijing structured the extraction contracts. Now Colombo owes more in debt service than it earns in royalties, the mines are majority Chinese-owned, and the strategic minerals leave the country at transfer prices that don't appear in national accounts. It's the Belt and Road playbook: replace colonial extraction with financialised extraction, then call it partnership.

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The Rare Earths trap : How debt and geopolitics are consuming Sri Lanka - CADTM

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