How Nepal’s acceptance of China’s BRI is a risky gamble

News Snapshot:

Nepal and China have worked out a deal on the Belt and Road Initiative (BRI), and despite Kathmandu’s hesitancy in agreeing to arrangements for financing projects in the ‘grant’ mode, China appears to have convinced Prime Minister KP Oli, a well-known Chinese Communist Party (CCP) sympathiser, to also accept “a mix of aid investments, including grants and loans” to fund the BRI in Nepal. The timing of the signature on the BRI pact is significant as this is Oli’s first overseas visit since taking over as Prime Minister, and a total of ten agreements were inked upon during the visit....