China surpasses the west in ‘dealing’ with countries like afghanistan or those of the african union, because they place a credible prospect of prosperity in the weighing pan instead of exceptionalist arrogance, hypocritical humanism, military superiority and usurious loans.
China surpasses the west in ‘dealing’ with countries like afghanistan or those of the african union, because they place a credible prospect of prosperity
Even China doesn’t claim there is “credible prospect of prosperity” for its foreign partners as they are left behind with unbearable debt burdens and former national assets (such as ports) are now under Chinese control. Examples are Sri Lanka (their port is now Chinese-owned), Pakistan, Kenya, where China has gained political influence and trying to control even the public administration. You’ll easily find examples across the web for that.
In Europe, Portugal is the latest country to leave China’s Belt and Road Initiative, after Italy and Albania. These European countries thankfully have no debts in China, unlike countries in the ‘global south’ that are facing severe economic problems as a result of their partnership with China.
In the meantime, China started to bail-out their own banks, and the conditions Beijing offers are far worse than those of western institutions as a recent study (you find the study as a pdf here) has found:
Chinese rescue lending is extended at relatively high interest rates. The Fed usually charges margins of around 25 basis points over the LIBOR reference rate. In contrast, the PBOC swap lines show interest rates at margins between 200 and 400 basis points above the Shibor reference rate, while the typical rescue loan by Chinese banks requires interest rates of 5 percent [in contrast to 2 percent required by the International Monetary Fund in comparable situations …]
We see historical parallels to the era when the US started its rise as a global financial power, especially in the 1930s and after World War 2, when it used the US Ex-Im Bank, the US Exchange Stabilization Fund and the Fed to provide rescue funds to countries with large liabilities to US banks and exporters.
Outsiders have been trying to use Afghanistan for their benefit for thousands of years, all have failed.
I don’t see the CCP have any more success.
Clear enough for you?
China surpasses the west in ‘dealing’ with countries like afghanistan or those of the african union, because they place a credible prospect of prosperity in the weighing pan instead of exceptionalist arrogance, hypocritical humanism, military superiority and usurious loans.
@DieterParker
Even China doesn’t claim there is “credible prospect of prosperity” for its foreign partners as they are left behind with unbearable debt burdens and former national assets (such as ports) are now under Chinese control. Examples are Sri Lanka (their port is now Chinese-owned), Pakistan, Kenya, where China has gained political influence and trying to control even the public administration. You’ll easily find examples across the web for that.
In Europe, Portugal is the latest country to leave China’s Belt and Road Initiative, after Italy and Albania. These European countries thankfully have no debts in China, unlike countries in the ‘global south’ that are facing severe economic problems as a result of their partnership with China.
In the meantime, China started to bail-out their own banks, and the conditions Beijing offers are far worse than those of western institutions as a recent study (you find the study as a pdf here) has found:
Sure…and I wish them all the success in Afghanistan!
how generous of you…
As a dog returnth to its vomit, so a fool returnth to its folly.