I read a few articles explaining the crisis. They were ex post facto analyses, and the authors saw the crisis in terms of their ideological predilections except for the one factor which is factual and common to all, i.e., Srilanka falling into the Chinese debt trap by falling for their misplaced investments.
All other measures, which the analysts accounted for the Srilankan slip, were rather thoroughly rational and well-thought over.
In fact, one must not forget that nations too fail like business corporations. It depends on the quality of leadership and the times. Incompetent leadership can mess up even the best ideas. It is a matter of competence.
In a democracy, the quality of the leadership only reflects the quality of the general citizenry. Ultimately, the national good depends on the knowledge base of the society. It is a critical factor that people know and are eager to learn more about.
Niraj Kumar Jha