What next for port city?

China has become a dominant partner with the port city and whatever happens in parliament port city is set to be an addition to the map and the economy. The treasury is hopeful of the foreign investments that would come across the port city. China has already extended a currency swap of US$ 1.5 billion and later extended a US$ 500 million loan. Now, there is talk in financial circles about a further US$ 700 million.

 

The currency swap, , would lead to more Chinese goods entering the Sri Lankan market and possibly economic dominance. Radioactive material entering the Chinese-built Hambantota Port interpreted by some as an offshoot of Chinese dominance. Opposition groups allege the incident indicated that there would be safe passage for such vessels in the future too.

 

Chinese National Defense Minister

 

As Chinese dominance grows the area to watch out is the strain of diplomatic relations with India. Chinese National Defense Minister, Wei Fenghe,  who arrives in Colombo on Tuesday will certainly take advantage of the economic situation and the domination of China to broker new deals that include hardware supplies and training.