Claims that John Adams said, "There are two ways to conquer and enslave a nation. One is by sword. The other is by debt."
American statesman John Adams, who served as U.S. president from 1797 to 1801, famously said, "There are two ways to conquer and enslave a country: One is by the sword; the other is by debt." China, choosing the second path, has embraced colonial-era practices and rapidly emerged as the world’s biggest official creditor. [...] The latest to fall prey to China’s debt-trap diplomacy is small Laos, which recently signed a 25-year concession agreement allowing a majority Chinese-owned company to control its national power grid, including electricity exports to neighboring countries. This shows that, even as the China-originating COVID-19 pandemic exacts a heavy toll across the world, Beijing continues to weaponize debt as part of its strategy to expand its economic, political and military presence abroad.