Who is afraid of ‘debt-trap diplomacy’? Geopolitical narratives, agency and the multiscalar distribution of risk

This commentary uses a geographical approach to make three points about the multiscalar distribution of risk and opportunity associated with ‘debt-trap diplomacy’ in the context of China–Africa relations. First, although geopolitical narratives are often inaccurate, they affect geopolitical perceptions and, in turn, the distribution of debt-related risk. Second, just as geopolitical dynamics affect domestic politics, domestic political dynamics influence the geopolitics of debt. Finally, the use of debt as a geopolitical tool is not limited to lenders or governments. A variety of actors – from opposition parties to media outlets – can deploy debt to recalibrate power relations across states as well as within them.