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How China trapped Sri Lanka under a mountain of debt

Sri Lankans walk by a Chinese-funded port in Colombo. Photo: Lakruwan Wanniarachchi/AFP via Getty Images

Sri Lanka's economy is struggling under the weight of massive debts owed to China, with the rupee hitting an all-time low on Monday.

The big picture: As the small South Asian country's economy spirals downward, it's freeing itself from debts by selling Chinese-funded infrastructure projects back to China, giving Beijing influence over strategic ports close to its rival India's shores.