Sri Lanka Ambassador Cautions China On Challenges To Sustaining Economic Growth

February 23, 2017

Sri Lankan Ambassador to China, Dr. Karunasena Kodituwakku has cautioned China of the challenges it will face in 2017 to sustain economic growth at a time when large economies, such as the United States, are turning to “more inward-looking trade and investment policies”, which may have a negative effect on China's trade with these countries.

Writing to the China Daily, Dr. Kodituwakku, expressed optimism however, over China's ability to reach its economic growth goal for 2017, pointing out that its Belt and Road Initiative has attracted a number of economies to participate.

The Sri Lanka Ambassador said the volume of China’s international trade and foreign direct investment in other countries is becoming a critical factor for many countries, and that China is likely to become the most important development partner of many emerging countries in Asia, Africa and Europe in 2017.

“The Chinese government's encouragement of its entrepreneurs to go global should lead to an expansion in Chinese foreign investment in Asia, Africa and Europe,” he said, adding that banks such as the Asian Infrastructure Investment Bank and the Export-Import Bank of China will continue to finance projects in various countries.