Posted on 12/28/2018 7:43:34 AM PST by SeekAndFind
All that good P.R. China got for its "one belt, one road" infrastructure-building in third world countries - so much more constructive than America's military spending, see - is starting to look like something entirely different now that Kenya is about to fall to China and its very humorless bill collectors. Here's what Taiwan News is reporting.
China may be preparing to seize some major assets in the African nation of Kenya, as a result of debt-trap diplomacy.
African media reports that Kenya may soon be forced to relinquish control of its largest and most lucrative port in Mombasa to Chinese control.
Other assets related to the inland shipment of goods from the port, including the Inland Container Depot in Nairobi, and the Standard Gauge Railway (SGR), may also be compromised in the event of a Chinese port takeover.
Kenya has reportedly taken extremely large loans from the Communist government for the development of some major highways, and especially for the SGR, which forms a crucial transport link to and from Nairobi for the import and export of goods through Mombasa.
In November, Moody’s noted that Kenya is at high risk of losing strategic assets because of debts owed to Beijing.
Local media began to express concern that Chinese lenders may be angling to seize assets, since it does not appear the Kenyan government will be capable to repaying the loans.
Beijing, of course, is denying it. But that was a couple days ago. And its only argument begs the question. China insists that the project, out there in deepest Kenya, will indeed make money, effectively suggesting that it won't need to expropriate the port.
(Excerpt) Read more at americanthinker.com ...
If the US did this it would own the World by now
Them commie are tough capitalists under their pretty dragon masks
Them commie are tough capitalists under their pretty dragon masks
Yep....but we’re “Mr Nice Guys”
We invent the stuff, develop ideas, and the rest of the world benefits.
And mostly unappreciative too
That’s how they gain power and suck up property into the collectivity, as all good communists do.
And if the Chinese did this to us... Well, somebody actually thought of that. Look up the film ‘Dragon Day on IMDb.
The guy who made the film said in an interview once, “I better get this release before it turns into a documentary”.
We forgive debts while ensuring that our corporate boardrooms have the correct number of women and minorities.
China operates under no such limitations.
Seize stuff outside of your home country = sending in their military
The European nations did something ,like this to China way back. I think this is how they got the Shanghai concessions, also similar but smaller “deals” in other coastal cities. So the Chinese are just applying the same principle to its African efforts.
I give it a year or so before Chinese heads start being found in the African countryside. The CHICOMS wont be the first to learn the hard way there is no winning in Africa.
Unduly alarmist. It was just a business deal. Kenya won’t be paying any piper or relinquishing ordinary sovereign powers. It will just be repaying a debt, as an American under bankruptcy would do. The port upgrade was a good investment, but the local Kenyan management did not operate it efficiently. Containers were misplaced, leading to lawsuits. The Chinese, as any other creditor would do, will be assuming management and operating it more efficiently than the locals.
True. But I am going to enjoy the hell out of watching it unfold.
These deals are often just artful cover for corrupt local politicians to sell National assets for their personal profit.
An elaborate con game to cover up the crime - rigged to default by design.
What do you expect when you deal with the devil. Now what is our excuse?
That’ll keep them in rhino horn, ivory, monkey ‘nads or whatever.
Yep.
They take you out for a free dinner, and you have a couple of drinks and you’re having a great time and then the fortune cookies come and you open yours up and it reads,
“All your ports belong to us.”
Kenya took out big loans. Kenyan politicians likely took a hefty skim off the top into their overseas bank accounts. When it comes apart, they will bug out and let China take over.
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