Chinese in Sri Lanka: Will locals wave sticks to stop traffic? What is the current situation there?

I used to think that national bankruptcy was an incredible thing, but it has really happened in many countries. There are Greece and Iceland in Europe, Venezuela in South America, and countless bankrupt countries in Africa. Now with the global epidemic, Due to the double blow of the economic crisis, Sri Lanka, the pearl of the Indian Ocean, also collapsed. The president and prime minister both resigned. What is even more bizarre is that the presidential palace has become a tourist attraction, and people have to queue up to visit the president's bedroom!

Why did Sri Lanka suddenly collapse? The economic crisis facing Sri Lanka is caused by a variety of domestic and foreign factors. Starting in 2019, there have been multiple major serial explosions in Colombo, the capital of Sri Lanka. This is devastating to Sri Lanka, which has a single economy and relies too much on tourism. Life safety cannot be guaranteed, so what about tourism services! Immediately after the outbreak of the new crown epidemic, Sri Lanka's tourism industry was hit hard, and this industry is an important economic pillar of the country. As soon as Sri Lanka's tourism industry improved in the second half of 2021, the Russia-Ukraine war started, triggering a rise in global commodity prices, and Sri Lanka was unable to be independent in its domestic food. Russia and Ukraine were an important source of Sri Lanka's wheat imports, and the spreading Russian-Ukrainian war The war once again impacted the Sri Lankan economy.

Sri Lanka’s biggest problem is that it has developed an inward-looking economy that focuses on supplying goods to the domestic market rather than trying to break into the international market. Export revenue remains low while import expenditures continue to grow. The country Foreign exchange reserves are running low. Sri Lanka has US$7.6 billion in foreign exchange reserves with only US$50 million left. Sri Lanka's severe agricultural harvest failure forced it to replenish its food reserves from abroad, making its foreign exchange shortage even more serious. The extreme shortage of foreign exchange reserves has greatly aggravated its financial risks, making it difficult to withstand the ups and downs of the country's finances. If Soros comes again, it will be doomed.

At a time when the country is in bankruptcy, Sri Lankan people are scrimping on food and clothing. They have to wait in long queues for hours to obtain fuel and gas, but often get nothing. At the same time, medicines and other items are on the verge of being exhausted. Sri Lankan people usually try not to go out. If they do go out, they usually walk or ride a bicycle. Women queued on the sidewalk to buy kerosene. There was a long line of people refueling, and the process of refueling was also very difficult. After the previous car had refueled, the owner of the following car had to get out and push the cart to the refueling port because there was no fuel at all.