COUNTRIES ARE FINALLY WAKING UP TO THE CHINESE

in #esteemapp5 years ago (edited)

If you look at the above chart it is quite disturbing how African countries are spending the Chinese handouts. The Belt and Road initiative are not handouts though and come with fine print. This year at the African Summit China proposed 35 Billion Dollars in aid for this year alone.

Countries like Angola have taken out $19 Billion in aid on their own and are now crippled as they have no chance of paying this back.The only way they can is to hand over oil and gas below cost and are at the mercy of the unscrupulous Chinese.

Mckinsey has reported that they project that the Chinese would have over $400 Billion outstanding by 2025. This is good business for China as there is no negotiating. Only Chinese companies are involved so it is a closed business deal.

It is not all doom and gloom though as Sierra Leone of all places has rejected a previous done deal with the former President. They cancelled the new airport deal that would have put the country in the Chinese's back pocket.

The aviation minister has said it is a waste of expenditure and can save the $440 Million by just revamping their current airport. The World Bank had fears that this would put them in debt distress.Finally someone who may not be corrupt and a government official. This is a rare thing in Africa and should be praised.

The reason why things cost so much with all these deals is that corruption needs to be added on everything that is being built. In Africa if something costs $1 Million the final figure will be more than double from all the hands that have to get greased along the way. This is the reality of the pure greed that covers the entire continent. This is why the Chinese can do these deals with no questions asked and a very loose budget.

China has turned Africa into a construction site for all the Chinese companies. Very few local employment is used as the Chinese use their own people creating work for themselves. It is smart business for China and you can't blame them for what they are doing.They are looking after themselves first and will benefit when the countries fail on their debt payments, cherry picking what they want from each country.

Chad,Mozambique,Zimbabwe,South Sudan,Republic of Congo and Eritrea are in debt distress with Zambia and Ethiopia about to join the list.Mozambique is about to go further into debt by developing their harbor as gas reserves have recently been found. They have not learnt and will go down the misery route like so many others.

Japan is offering lower loans to countries seeking aid and at current levels is nearly 2000% less than the Chinese. By using Japanese loans you can create work for your people and use local companies.Malaysia just rejected 2 Chinese deals and is negotiating with the Japanese now.

I think more of this needs to happen as the Chinese way of thinking is not about giving aid but about aiding themselves. The 60 countries involved in the Belt and Road initiative need to get out before it is too late. We only have to look at the countries who have gone too far and the loans are bigger than their annual GDP with no hope of getting out.

This is a list of countries who have gone too far and cannot recover

Pakistan
Mongolia
Maldives
Montenegro
Tajikistan
Djibouti
Laos
Kyrgyzstan

Who is going to be added to this list in the coming years? I can see Angola and Mozambique as definites ,but the list will be a lot longer very soon.

Image source bbcnews.com

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This was good read. If the South African countries keep letting them in who can blame them.

Posted using Partiko iOS

IMF and the West have been using international loan programs to colonize South America, Central America, and Indonesia for decades. The CCP is just copying the West's playbook. Of course, at least the IMF projects did build semi-permanent infrastructure for these regions, whereas the CCP built knock-offs will not last 5 years.

Foreign aid is a money laundering scam at a national level that line the pockets of the ruling elites of both the sender and the receiver nation states. Human rights and international charity are but slogans used to mask the theft of the public purse.

Totally agree with you. The one is no better than the other as there is always something expected in return. I just don't like what route these countries are going down and it is just so blatantly wrong.The elite will always milk what they can get and that is the sad part about it.

The blame for these countries being saddled with debt and becoming de facto colonies of the West or the CCP is mostly on the rulers of these, usually "democratic" and socialist countries. Their own rulers, supposedly elected by the drones, sell out their sovereignty. It is akin to the drug addiction issue that plagues much of the wealthy nation states. The problem is not one of supply, but that of demand. The third rate nations elect scum that have insatiable appetite for wealth accumulation, even beyond that of the Western mercantile banking cartel. The IMF and the CCP merely supply the inordinate demand these petty rulers possess.

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At least they do not do it with bombs like a certain other country does.
And I read this article some time this year, where a African country were saying they no longer wanted aid from the UK, as the UK handouts cost them 10x more in other back payments, and through the backdoor if you like, they said the British government were not helping, more taking what they want. :-)

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just seems like similar ploys from the old u.s. handbook... empire is as empire does

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