Africa is starting to have second thoughts about Chinese money

[Juke]

Bloomberg - Are you a robot?

Zambia got pillaged, basically defaulted. Many other coutnries will as well. Nigeria, Kenya, Tanzania are all scared

“Nobody other than the government knows the terms,” he says. The government says it didn’t need parliamentary approval.

 

[Royalflush]

wallahi ive heard of this
these bankers will move earth and heaven to find out where the top official stays, his habits etc and they'll "bump" into them at some hotel or same jet. they'll give like a 100m dollar loan to this official- most likely president or finance minister, and he'll get his cut of course, maybe like 4 or 5 mil in some cayman bank. he walks free and later the government cant pay back this staggering loan. this is bold thievery

https://www.bloomberg.com/news/arti...anker-admits-taking-bribes-in-mozambique-scam

 

[The Somali Caesar]

Just look our brothers in Djibouti that are getting fucked over by China that put them in billions of dollars of debt that they simply can’t pay back.

Coronavirus in Djibouti increases risk of China debt trap

Horn of Africa nation sees rapid infrastructure development, but with trade-offs

asia.nikkei.com

 

[Somali Napolean]

Its gonna be interesting if African countries default on these loans, will China come and claim these projects as CHinese territory? Will African nations allow it? Will the global community act or just appease?

 

[Octavian]

Bloomberg - Are you a robot?

Zambia got pillaged, basically defaulted. Many other coutnries will as well. Nigeria, Kenya, Tanzania are all scared

i hope these niggas do something about abou lee

 

[Al Muslim]

The chinese know what they are doing, I saw a documentary in which they built a massive dock for Fiji which the chinese told them would boost tourism. The dock is the size that is ideal for warships and such to use, once Fiji defaulted on the loan the chinese took the port and now they have a free military base. It's a scam they are running on developing nations.

 

[Juke]

Its gonna be interesting if African countries default on these loans, will China come and claim these projects as CHinese territory? Will African nations allow it? Will the global community act or just appease?

It will be interesting. They've already taken ownership of some Zambian infrastructure that was built with the loans.

China would take ownership of the Ports, Railways, Trains, Telecoms, Minerals, Energy, etc. they built.

The chinese know what they are doing, I saw a documentary in which they built a massive dock for Fiji which the chinese told them would boost tourism. The dock is the size that is ideal for warships and such to use, once Fiji defaulted on the loan the chinese took the port and now they have a free military base. It's a scam they are running on developing nations.

The politicians are taking kickbacks/bribes, they know exactly what China is up to.

 

[axmedcaloolweyn]

Its gonna be interesting if African countries default on these loans, will China come and claim these projects as CHinese territory? Will African nations allow it? Will the global community act or just appease?

They can if they want to. They own some Bangladeshi ports that the govmt couldn’t pay back. They’ve done loan forgiveness for others in exchange for pulling political strings

 

[abdullah233]

It’s sad it took them this long to catch on to the debt traps

 

[AbdiGeedi]

Chinese are doing this to developing countries all around the world. Shri Lanka had give away their main port to China to service its debt.

Here are the Indians exposing the Chinese. It is always good to have team curry around when team rice is misbehaving.

 

[Octavian]

Chinese are doing this to developing countries all around the world. Shri Lanka had give away their main port to China to service its debt.

Here are the Indians exposing the Chinese. It is always good to have team curry around when team rice is misbehaving.

they signed a deal in witch that port will be in winnies fatso hands for the next 99 years afters yers of fighting the tamil tigers and then this happens to u

 

[AbdiGeedi]

they signed a deal in witch that port will be in winnies fatso hands for the next 99 years afters yers of fighting the tamil tigers and then this happens to u

Shri Lanka has definitely got fooled. I guess their politicians luck geopolitical acumen. It is a tragic example Somalia needs to pay attention to when China comes with open hands and offers money.

 

[repo]

Shri Lanka has definitely got fooled. I guess their politicians luck geopolitical acumen. It is a tragic example Somalia needs to pay attention to when China comes with open hands and offers money.

The port was privatized as opposed to fully taken over by the Chinese. It’s similar to Arab countries using DP world to privatize Somali ports:

 

[AbdiGeedi]

The port was privatized as opposed to fully taken over by the Chinese. It’s similar to Arab countries using DP world to privatize Somali ports:

China is a one party communist country. Basically all big Chinese companies participating in infrastructure projects have connections to and act in line with the Chinese government and its army. There is no way for a Chinese company to get big loans and even operate without a nod from the government as their banks are state owned. Many CEOs of Chinese companies are either ex party officials or ex Chinese military officers. Make no mistake the port is in the Chinese government's hands.

 

[SOMALI GENERAL]

Even Greece has fallen into China's Debt Trap. The Chinese are very cunning when they deal with poor performing economies.

 

[ReyRey]

They're colonizing zambia, even have signboards in their language

 

[qalanjoqoordheer]

Wow Zambia just keeps collecting Ls