I've a mate from Taiwan, so heard a lot about this, a quote I really took to was : "If you didn't like Chinese communism, just wait till you see Chinese capitalism"
Influenced, I believe by the horrendous Mr Dart (styrofoam cup man) they aim to bankrupt and then effectively own entire parts of nations, by posing as friends offering cheap or free cash out of the love of the country. (Billionaire Dart’s Argentine Unit Raided by Tax Agents - Bloomberg)
Debt trap diplomacy is the plan for Africa and fringe nations. For the west , cheap mass manufacturing in China is not a co-incidence, its a way to effectively control supply chains and disrupt economies.
They control ports in many strategic locations, they are giving a lot of people very cheap loans then hiking them up and punishing them with land grabs.
The strategic Hambantota port, which was funded by a Chinese loan to the Sri-lankan leader, was leased to Beijing on a 99-year debt-for-equity swap in 2017 after the country failed to pay off the debt. (https://economictimes.indiatimes.com...w/77462770.cms)
Pakistan owes $10 billion debt to China for Gwadar port, other projects: US general - World News (indiatoday.in)
etc etc.
They have assured sole access to some oil producing countries, they have a deal for cash with Ecuador that they can only export oil to China, if China requests it.
Conspiracy? maybe - but personally I believe it. (Don't get me wrong tho, Im not coming from a racist or Covid blame game , I think that's rubbish - but China are playing a long game)
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I also wonder what strings the Russian and Chinese 'vaccine diplomacy' comes with too.
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Forward 20 years and expect lots of protesters complaining the Chinese enslaved various nations. They probably should watch out for the tanks.Leave a comment:
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China’s secret loan contracts reveal its hold over low-income nations
“Researchers expose stringent clauses which give Chinese lenders priority over other creditors
Chinese lenders have used legal contracts to give them a hidden advantage over other creditors when lending to low-income countries, in a trend which threatens to undermine global debt relief efforts, according to research. Many of the contract terms were unusually strict and gave Chinese loans priority for repayment while prohibiting borrowers from restructuring their Chinese debts in co-ordination with other creditors, the report published on Wednesday said.“
https://www.ft.com/content/7e98795f-...e-6e21c345d4a9
OMG, what a shocking revelation - Chinese are not dumb when loaning Chinese taxpayer money to corrupt 3rd world Govts!
How very dare!
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