Sri Lanka's is the More Egregious Story, With the Tax-to-GDP Ratio Having Dropped by a Third in Three Years as Rated Got Slashed. Inevitably, The Country's Credit Ratings Suffered, Budget Deficits Soared to an Astonishing 14 per cent of GDP,and the Roll- Over of Foreign Loans (Used Unwisely to fill the Fiscal Gaps) Went From Difficult to Impossible-Leading to the Foreign Exchange Crisis and Collapse of the Currency. China Uses the Debt Trap Policy Against the Developing Nations to Establish its Economic and Political Power Over Them.