Posted on 06/11/2020 9:29:10 AM PDT by SeekAndFind
Mainland Chinese firms invested $72.2 billion in Africa between 2014 and 2018, much of it through the Belt and Road Initiative. Now that Covid-19 has struck, there is a growing sense of unease in Beijing over calls to write off debt to stressed African states.
(Excerpt) Read more at euromoney.com ...
Africa wins again!
One party communist bureaucrats giving $ Billions in no-money-down infrastructure to other one-party socialist kleptocracies for overt political reasons. What could possibly go wrong?
Exactly-what else did they expect? Im surprised at China, of all nations, being this naive ( and I don’t really believe they are, wonder when they’ll demand payment in kind)- this is what African nations do.
RE: Im surprised at China, of all nations, being this naive ( and I don’t really believe they are, wonder when they’ll demand payment in kind)
Control of their railroads, ports, mineral resources, etc.
Exactly and it helps that they don’t give a hang about international opinion.
Who was the guy who kicked them out of Tanzania after the Chinese built them a railroad? Chicoms don’t seem to learn.
Great summary.
We have our own problems with mal-investment for political reasons (see Solyndra for one relatively recent example), but they are NOTHING compared with the Chinese.
The long-range plan was to infiltrate Africa with lots of Chinese, and then when the time was ripe, take over.
If Hillary had won in 2016, then they would have been on-track.
Difference is, China doesn’t give a rip about what the rest of the world thinks.
The ChiComs need to talk to Bank of America vis-a-vis their loans to South America.
Show me anyone who didn’t lose money on Africa? What makes the Chinese special?
China will prop up those dictators and get resources like oil, gold, 99 year leases on prime property, etc. for repayment...they thought this out.
Another fantasy about throwing money at third world nations in hopes of getting some sort of return. Happy it happened to China this time. Belt and Road was more like Beat and Rolled by third world Africa. Better luck next time, CCP.
RE: Show me anyone who didn’t lose money on Africa? What makes the Chinese special?
I think there is a method to China’s madness. They KNOW that the leaders of most African countries are either corrupt or ignorant and the money they loaned out will not be repaid. However, they do have COLLATERAL built into their agreements.
TO make a long story short — If you fail to pay back the loan, we take control of this resource ( e.g. rail, port, precious metals mine, etc. )
Dictators tend to get toppled and mineral rights rearranged.
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