How Sri Lanka’s Economy Collapsed

In recent days, the political crisis in Sri Lanka has reached a critical point, with its president fleeing the country and protesters occupying his residence and office. Today, “The Daily” explores how the island nation, whose economy was once held up as a success story in South Asia, came apart — and why it’s a cautionary tale.Guest: Emily Schmall, a South Asia correspondent for The New York Times.Want more from The Daily? For one big idea on the news each week from our team, subscribe to our newsletter. Background reading: Yesterday, mass demonstrations and tear gas filled the streets of Colombo, the Sri Lankan capital, and late into the night, protesters clashed with the police outside Parliament.For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday.  Subscribe today at nytimes.com/podcasts or on Apple Podcasts and Spotify. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.