Posted on 04/23/2020 11:30:33 PM PDT by nickcarraway
China has often been accused of luring the poor African countries in its debt-trap by providing them loans for much-needed infrastructure projects and then control them when they fail to pay off their debts.
Tanzania President John Magufuli has cancelled a Chinese loan worth $10 billion signed by his predecessor Jakaya Kikwete to construct a port at Mbegani creek in Bagamoyo over terms and conditions that, he said, beat the logic. Magufuli said that the terms of the Chinese loan agreement could only be accepted by a drunken man.
His predecessor, Jakaya Kikwete had signed the deal with Chinese investors to build the port on condition that they will get 30 years to guarantee on the loan and 99 years uninterrupted lease, according to local media reports.
Tanzania President Chinese Debt Trap Another shocking demand made by the Chinese and accepted by Kikwete administration was that the Tanzanian government will have absolutely no power to raise concerns on whoever invests in the port during that period.
Dubbed as the "killer Chinese loan", several organisations and African citizens had demanded the then President to cancle the agreement. They had warned that the move will have dire consequences but their concerns were overlooked and the deal was signed.
However, after coming to power, President Magufuli initiated the renegotiation process and pressed the investors to bring down the lease period to 33 years instead of 99 years signed by the previous government.
Magufuli administration also made it clear that there will be no tax or utility exemption for the Chinese investors and they will need government approval to start new operations at the port. However, the investors didn't meet the deadline issued by the Magufuli government, hence, the agreement got cancelled.
China's debt trap
China has often been accused of luring the poor African countries in its debt-trap by providing them loans for much-needed infrastructure projects and then control them when they fail to pay off their debts.
Recently, the Kenyan government had also raised the issue that China was planning to take over one of the country's key seaports after the African country failed to clear its debts. Bejing also got Sri Lanka's Hambantota port on the lease after the island nation failed to clear part of a massive loan.
“take the Chinese money.
when the Chicoms come to collect.
kill them. everybody wins”
If you can’t get a chair at the Joint Chiefs of Staff, at least consider running for sheriff.
“Where did we get the most recent $2 trillion for emergency spending? And under what terms?”
*******************************************
We got it from Tanzania....payable on demand. ;-)
N-i-c-e catch......
CHINA NETWORKING IN US——Did Joe and Hunter Biden help China compile “The Friendly Governors’ list”..............
Secy of State Mike Pompeo Says He Has List; American Pols Named as ‘Friendly’ by Communist China
pjmedia.com ^ | 2/9/2020 | MEGAN FOX
In a shocking speech to the National Governors Association, Secretary Mike Pompeo revealed that he is in possession of a list of American governors who have been listed as “friendly” by Chinese Communist infiltrators.
Pompeo said he had received an earlier invitation from a former governor to attend a networking event that promised great “deal-making” opportunities with the Chinese government.
This networking event was run by “The Chinese People’s Association for Friendship in Foreign Countries,” said Pompeo.
But what the US participants might not have known is that “the group is the public face of the Chinese Communist party’s official foreign influence agency, the United Front Work Department.” Pompeo knew of this connection from his former position at the CIA.He questioned the governors on how many of them knew that this group was a Communist-front group.
“What if you made a “new friend” at the China networking event?” he asked. “What if your ‘new friend’ offered to invest big money in your state, perhaps in your pension fund, or make a Chinese invest in an industry sensitive to our national security?”
And then Pompeo dropped a huge bomb on the crowd.
“These aren’t hypotheticals. Last year a Chinese government-backed think tank in Beijing produced a report that assessed all fifty of America’s governors on their attitudes toward China. They labeled each pol friendly, hardline, or ambiguous.”
Pompeo continued, “I’ll let you decide where you think you belong, someone in China already has. Many of you, indeed, in that report, are referenced by name.”
(Excerpt) Read more at pjmedia.com …
ARCHIVES
The Washington Post
By Laura Vozzella and Simon Denyer
September 16, 2016
$2 million Chinese Donor to Clinton Foundation, caught up in Chinese cash-for-votes scandal-— surfaces in Virginia
Wang Wenliang, a Chinese billionaire and donor to the Clinton Foundation and Virginia Gov. Terry McAuliffe, has been expelled from China’s top legislature after being caught up in a widespread cash-for-votes scheme. On Tuesday, China’s national legislature expelled 45 of its nearly 2,900 members, all from the northeastern province of Liaoning, in a huge vote-buying scandal. The move was part of an investigation into corruption in Liaoning and a much larger national anti-corruption campaign launched by President Xi Jinping.
Wang, who made his fortune in construction and running a strategic port near the North Korean border, also has been a big donor to New York University, Harvard University and the Center for Strategic and International Studies in Washington.
Wang’s $2 million donation to the Clinton Foundation in 2013 made waves when it was disclosed last year because of his ties to the Chinese government. More recently, his name surfaced amid news that McAuliffe (D) was the subject of an FBI investigation.
McAuliffe expressed confidence in May that Wang, who gave a combined $120,000 to his 2013 gubernatorial campaign and 2014 inauguration, was a “legitimate donor.” [McAuliffe in ‘shock’ over FBI investigation of campaign money, personal finances]
A spokesman for Wang said his ouster was the result of a political “purge” carried out on behalf of Xi. “They get rid of people who are not part of his team,” spokesman Sig Rogich said.
He said Wang and the others ousted had only “lobbied decision-makers” with meals and token gifts. “He wined and dined them and gave them a gift,” Rogich said. “It’s not like they gave them cash.” On Friday, McAuliffe’s attorney, James W. Cooper, said the governor “knows nothing about Mr. Wang and his legal situation in China.”
Spokesmen for the Clinton campaign and the Clinton Foundation did not respond to requests for comment.
Wang’s construction conglomerate, Rilin Enterprises, controls the Port of Dandong and processes significant volumes of soybeans shipped out of Virginia. He was courted in 2011 by Gov. Robert F. McDonnell (R), who encouraged Wang’s firm to buy 100,000 metric tons of soybeans from Maryland-based Perdue Agribusiness and ship them from Chesapeake, Va., to China.
Wang’s company also helped build the new Chinese Embassy in Washington, assembling and overseeing a team of artisans who would be loyal to both the Chinese government and the principles of feng shui. “There’s a lot of security involved,” Rogich said. “They’re also artistically knowledgeable about what the Chinese want. There’s a lot of feng shui that goes into this, evidently — depictions of the four seasons. Certain colors are not allowed.”
Wang’s $2 million pledge to the Clinton Foundation drew attention last year, first from CBS News and then other outlets, because of his connections to the Chinese government — both as a member of the National People’s Congress and as a contractor entrusted to help build China’s embassies around the world.
Wang’s political donations to McAuliffe reflect sizable overlap in Clinton and McAuliffe donors. Critics say the pattern suggests contributions to McAuliffe, a close friend of Bill and Hillary Clinton’s, are intended to curry favor with a former president and an aspiring one. McAuliffe supporters say the overlap is the natural outgrowth of personal and political bonds the governor has forged over a long career as a Clinton fundraiser.
LINK [Scores of Clinton donors pumped millions into McAuliffe coffers]
—SNIP— more at source
MUST READ-—Arming China- The Bill Clinton Connection
Frontpage Mag ^ | March 19, 2020 | Michael Ledeen / FR / FR Posted by CheshireTheCat
snip .....Remember this all happened about 25 years ago.... then Pres Bill Clinton and his foreign policy team were busily arming Beijing,
which in turn armed “rogue nations” such as Iran, Iraq, Syria and Libya.
......on the one hand, it did make sense to sell a very limited amount of advanced military technology to the Communist Chinese, for example devices for nuclear safety, or for certain military systems with important civilian applications, such as satellite launchers.
But the Clinton Administration was not doing that.
Instead, it was executing a deliberate policy—apparently one that had full approval from the top levels of the Clinton Administration, despite the vigorous opposition from government agencies, and from individual officials infuriated at the flow of top technology to China.
This often took the form of Clinton okaying the selling off some of our finest factories to China, at pennies on the dollar, and included our finest supercomputers and the key element to modern jet engines, which had been blocked for export to the Soviet bloc... (Excerpt) Read more at frontpagemag.com ...
Brits?
Brits?
Remember what the Brits made the most money on in China, and why the Chinese hated them?
Sure, during the communist era, Hong Kong was a bastion of freedom for Chinese.
Well before that the Brits were peddling something else in China.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.