"There are two ways to conquer and enslave a country," American statesman John Adams (U.S. president from 1797 to 1801) famously said. "One is by the sword. The other is by debt."
China has chosen the second path. Aggressively employing economic tools to advance its strategic interests, Beijing has extended huge loans to financially weak states and ensnared some in debt traps that greatly strengthen its leverage.
