When Colombia defaults on the loans - because that’s the purpose of the loans - I’d like to see China try and wrest control of the port, station, or airport. It’s gonna be great TV.
You are more likely to see China acting like this in insipid Canadian and 𝕌𝕊𝕠𝕟𝕚𝕒𝕟 TV shows, since you don’t have any real examples. The China debt trap is a myth cooked up by the transatlantic financial class for your gleeful consumption.
Did a little digging. Found one interesting piece from Hudson institute including an opinion piece from former head of world bank. Main points: China, and Russia to a lesser extent, are prioritizing engagement with Africa both for for economic and political purposes (large UN voting bloc). China favors market rate loans over foreign aide, article suggests they cannot afford straight aid even if they wanted to. Loans from China are denominated in dollars, so strengthening USD and increasing interest rates playing a large role in debt. African nations paying more in debt repayment than receiving in aid and economic benefit. Traditional capital markets are no use to Africa because capital is flowing to developed countries and companies that already have cash. Doesn’t seem like China wants to repossess infrastructure they built, they actually want loan repayments. China doesn’t want to take write downs because they are concerned the money will be used to repay western creditors. US foreign policy is weak in Africa, infrastructure aid would go far because would improve terms from China. It’s a far more complex situation than I had thought. I plan to do more reading on the topic so I can be better informed.
I’ve yet to see any of you coming at me cite anything that isn’t a Washington think tank. Why don’t we try something other than begging Sᴏᴜᴛʜᴇʀɴ Bᴏʏ™ to use Associated Press/AFP sources, citing hardcore right wing neocon think tanks that appear first on Google search, and instead try asking Africans about what they think of China?
You don’t even know how to find that information, do you? Post-Ukraine Google has you thumbfingering RAND Corp and The New York Times into my mentions. You are one stinky boy!
I wasn’t coming at you dork.
You are going to need to come back with something other than NEOCON DRIVEL if you want me to take your quest to inject 🤓🇳🇺🇦🇳🇨🇪🧐 into my discourse seriously. “Did a little digging” always seems to include the first page of search engines that had their balls chopped off by the Alliance to Secure Democracy in 2022. I don’t need live reports on your Google search journey!
Two day old sock puppet account surely doesn’t have an agenda. Focus your attention elsewhere factory troll.
My agenda is smashing that MFing 𝔖𝔥𝔞𝔯𝔢 𝔅𝔲𝔱𝔱𝔬𝔫. Get your neocon agenda, both-sidesing ass out of here.
ELI5?
https://en.wikipedia.org/wiki/Belt_and_Road_Initiative
They’re gonna accept money from China in exchange for favorable trade deals.
If it amounts to anything, Colombia will get infrastructure projects and we will get salty WAPO opeds
That china will own and use as leverage for later ‘fuck you over’ deals. Go read how well it’s all working out in Africa right now. Short version: china doesn’t build shit for anyone but china and there will be a clause that they ‘own’ it all.
“Go read” the Hudson Institute? RAND? What will the first page of Google bestow upon the next challenger?
Tankies gota tank.
Yes, “tankies” do have a tendency to step in and develop third world nations after ages of languishing under colonialism.
US hedgemony:
Yay?
