Breaking: China signs deal for $3bn expansion of Djibouti City port
- Thread starter OTF
- Start date
Prime Minister
Somali Promotion Agent
That's great for Djibouti and bare in mind DP world only invested 400 million in Djibouti but China convinced Djibouti to abandon them it was risky but it paid off.
DP is a terrible news. Bosaso is a prime example. I'm glad jibouti kicked them out.
On the other hand I wonder how will this affect jibouti & USA's relations.
Ah yes signing yourself away for debt with huge interest,and when the Djibouti government can't pay, China will take the port. And not to mention that all of the jobs will go to han Chinese not somalis
they want to make their country next Dubai and pay the debt later on but we have seen this with so many countries.
I hope Djibouti has done an extremely deep research about how much the port will benifit them. Because if China takes it away. Djibouti will be nothing. Djibouti is nothing without its strategic place and port. And the somali People there will just starve and go to somaliland or Somalia, and the han Chinese will see it as an opportunity and populate the place with han Chinese taking more territory by the day
wait they had the same president since 1999 we'll they are fucked
Yeah but Dubai could afford to take them debts because it had oil and natural resources to bail them out. Djibouti unfortunately doesn’t
Do u know the difference between investments and loans???
What China does is called an investment loan it invests it’s own money into infrastructure projects as part of China’s Belt and Road Iniative such as Ports,Railways,Roads,Power Grids etc to underdeveloped countries.
On the surface it looks like a good idea just as long as the underdeveloped countries is able to pay it’s loans back. However there’s many examples of countries defaulting on their payments which is where it gets ugly.
One of many examples Sri Lanka defaulted on it’s investment loan repayments to China and then subsequently China now owns the Hambantota Port on a 99 year lease.
sorry I meant Singapore which more like a strategic hub that Djibouti wants to be
