In global terms, the defeat of Mahinda Rajapaksa in Sri Lanka’s presidential elections in January ranked as a mere political tremor. But for China’s policy of financial diplomacy — a key strand in Beijing’s strategy to win friends and commercial advantage around the world — the loss has been convulsive enough to rearrange the region’s diplomatic furniture.
Sri Lanka’s new leader, Maithripala Sirisena, has not hid his antipathy toward China. In a veiled reference to Chinese policy-backed loans worth several billion dollars, Mr Sirisena blamed “foreigners” during his election campaign for stealing his country.
“This robbery is taking place before everybody and in broad daylight . . . if this trend continues for another six years our country would become a colony and we would become slaves,” he said in his manifesto.