$ 58 billion railway project and the survival of Vietnam

Malaysian Prime Minister Mahathir (1981-2003 term) was a great contributor to Malaysia's development of a highly industrialized country. During his tenure, Malaysia's GDP grew miraculously. 10% per annum, only with the public debt of 72 billion Malaysia has invested a complete connection infrastructure, from the national highway network to the modern seaport and subway system. (while Vietnam's public debt is now more than 150 billion USD as the infrastructure is very far from Malaysia in 2003).

But his accomplishments and the UMNO party are in danger of being wiped out when Najib Nazak Najib regains power, the public debt of $ 72 billion has skyrocketed to $ 252 billion and the number Public debt continues to "speed up" making Mahathir and people feel very anxious, uneasy.

In 2018 Mahathir decided to run when he was 92. He made a bold decision when he joined UMNO's opposition party (Mahathir, the leader of the UMNO party) to run for office, with Prime Minister Najib's corruption, corruption, and many members of the UMNO party. The people turned to support Mahathir and he won resoundingly.

Only two days after the election, Mahathir ordered the capture of Prime Minister Najib Najib, police found cash, jewellery, and jewellery worth up to $ 300 million at Najib's home. Malaysia is too big, Malaysia has Najib pushed into China's "leverage" with China's huge loan projects.

On August 21, 1818, Mahathir made a straight statement saying, "We are not against Chinese companies, but we are against borrowing from outside and there are no projects. and very expensive ".

"We do not want to happen in a new version of colonialism because poor countries can not compete with rich, open, free countries."

Mahathir immediately stopped the $ 20 billion high-speed rail project because "this project is not necessary for the country and can not afford to pay this huge debt."

Within a few months of returning to the post of prime minister, Mahathir has taken drastic steps to stop all projects and loans of up to $ 30 billion.

In addition, Mahathir stopped a long-term visa for Chinese citizens buying houses in the 100-year-old city of Forest City against China's "migration" (70% of Forest City homes were cleanly bought by Chinese people). ).

Mahathir cut 10 per cent of government salaries by cutting down on ineffective ministry, firing 17,000 "illuminated umbrellas". He fired up bureaucratic, ineffective bureaucrats, appointing young talents to the government apparatus (Mahathir has appointed Asia's youngest and youngest sports minister, Syed Saddiq Syed Abdul Rahman is only 25 years old).

Malaysia is gradually returning to its orbit when there is an elderly father of this kind.

Malaysia is a strong economy in Southeast Asia, but only because of a corrupt leader, Najib, Malaysia has become a "debtor" for China.

Vietnam has a huge public debt of more than $ 150 billion, but luckily for us is the US debt of just over $ 4 billion, ADP loans, World bank mostly low-interest rates range from 0 , 6-1.2% per annum, the loan period lasts from 25 to 40 years and expires from 10 to 15 years. However, from 2017 onwards, we no longer have the privilege of these organizations. And borrow from China very high-interest rates of at least 3% to 10% for short terms 5-15 years maturity of 5 years.

China's high-interest loans with short-term borrowing will be a great pressure for Vietnam to pay its debts on time (the possibility of default is high when the public debt is at a red level). Recently, Vietnamese media has begun lobbying for the $ 58 billion North American high-speed rail project, which is more than three times the size of the Malaysian railway project announced by Mahathir. If this project is approved, Vietnam will shoulder an additional 1.3 million billion dong in public debt (if the public can raise up to 2 trillion dongs of public debt for this project)

Transport Minister Nguyen Van The has tried to persuade the National Assembly to approve: "5 to 7 terms of high-speed rail construction, each term only need 10 billion USD".

"It is too late for our country to make high-speed rail," he said, referring to countries in the region such as Cambodia's inaugural railway to Thailand and Laos. Correction of this information by the Minister said that the railway of Cambodia just inaugurated is the restoration of the old railway in the same way as the Vietnam railway and used to transport goods mainly, this project Cambodia only USD 84 million of ADB with interest rate of 1% per annum and USD 21.5 million of non-refundable AAID, not USD 58 billion of interest rate "in heaven." In addition, Cambodia has removed the entire station nationally from 2016)

China-related rail projects are a painful lesson for Malaysians when they have to stop at nearly $ 5 billion (which is $ 5 billion more than the $ 20 billion debt).

The congressmen should be very sober, resolute not to press the button for this project, it is clear that China's enormous trap is aimed at trapping greedy fetuses as corrupt Vietnamese officials. With China's "shared arms" tradition, buying government and officials are too easy.

The adoption of this project will be a disaster for the nation, its people and descendants will later bear the brunt of the consequences (while the "fat" officials were carrying heavy dollar suitcase to settle in water. out)

Vietnam will have to pay not only by paying its debts in money, assets, land but also by the sovereign rights and future lives of future generations.