• Saturday, May 30, 2020

Pakistan rejects China debt trap theories

Discussion in 'CPEC' started by Laozi, May 23, 2020.

  1. Laozi

    Laozi SENIOR MEMBER

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    Pakistan rejects China debt trap theories

    [​IMG]profit.pakistantoday.com.pk/2020/05/22/pakistan-rejects-china-debt-trap-theories
    Staff ReportMay 22, 2020
    [​IMG]

    ISLAMABAD: Pakistan on Friday debunked the claims being projected about the so-called ‘heavy debt’ related to China-Pakistan Economic Corridor (CPEC), with the Foreign Office once again clarifying that total public debt involved with CPEC outlay was mere 10pc of the country’s overall debt.

    “We have reiterated many times that our total public debt relating to CPEC projects is less than even 10pc of the total debt. Moreover, the public debt obtained from China has a maturity period of 20 years and the interest is 2.34pc. If grants are included, the interest value slides down to about two per cent,” said the Foreign Office spokesperson Aisha Farooqui, rejecting western propaganda over CPEC.

    “The claims made by some of the commentators and public officials on Pakistan’s debt obligations relating to CPEC are contrary to facts,” she said, adding that CPEC, a long-term project, has helped address development gaps in energy, infrastructure, industrialization, and job creation.

    “Pakistan and China are ‘all-weather strategic cooperative partners’. We are engaged in prompting peace, development and stability in the region based on the principles of mutual respect, mutual benefit, win-win cooperation and shared development. Our ties are based on deep mutual trust and understanding.”

    Farooqui said that economic development and long-term prosperity of the people is our government’s top priority.

    “CPEC, a flagship project of BRI, is a transformational project contributing positively and transparently to Pakistan’s national development. Pakistan believes that regional economic connectivity will provide a critical stimulus for creating broad-based growth across the region.”

    The spokesperson said that Pakistan and China have several mechanisms to discuss matters of mutual interest. Both countries are regularly in touch to address those issues bilaterally.

    https://profit.pakistantoday.com.pk/2020/05/22/pakistan-rejects-china-debt-trap-theories/
     
  2. Fracker

    Fracker SENIOR MEMBER

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    So PTI should get accountable who was spreading false news about CPEC. They were saying loan has been taken on high interest. Infact even Asad Umer said multiple times on media that this is debit trap like Srilanka
    .
     
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  3. abcxyz0000

    abcxyz0000 BANNED

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    Repost.

    Merge with earlier thread on this subject.

    - PRTP GWD
     
  4. Prince Kassad

    Prince Kassad BANNED

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    34% return on CPEC power plants (built by the Chinese using Chinese labour and using Chinese tax free parts) to the Chinese and its not a debt trap?

    Tax free, customs free industrial zones where only Chinese goods can land and only Chinese labourers employed is not a debt trap?

    Billions of rupees spent by the respected Pakistan Army to secure and stabilise the Balochistan and nether regions so that their roads can be made is it not a debt trap.

    Where no one asked the local population what they wanted and had no say in the development of the region and a very minimal of local population will be positively affected and its not a debt trap.

    Actually yes. Its not a debt trap. Actually it has nothing to do with dept. The Chinese have us by the balls. Its a biological trap.

    Countries all over the belt and road project as cancelling billions of dollars worth of projects because of being trapped by the Chinese and their 'campaign promises'.
     
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  5. cloud4000

    cloud4000 SENIOR MEMBER

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    PTI said this when they were in the opposition. After coming into power, they have made a U-turn.

    Nevertheless, no one in Pakistan seems to know the details of CPEC, whether it's an investment and/or loan. Pakistan will find out eventually when the projects are completed.
     
  6. aziqbal

    aziqbal PDF THINK TANK: ANALYST

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    lets get one thing straight

    80% of Pakistan foreign debt is to Western countries which accounts to less than 20% of our infrastructure

    20% of Pakistans foreign debt is to China which account for 80% of our infrastructure development

    so someone explain to me this China debt trap?
     
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  7. PradoTLC

    PradoTLC SENIOR MEMBER

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    Also people forget... we actually need this investment

    this is something we should have done using our selves with our own resources .

    what people are also forgetting Pakistan is paying this on very easy terms.

    personally I don’t think we should really react to such articles. In end who is really opposing CPEC?


    Americans
    Indians
    Questionable “Pakistanis” like Husain huqqani


    Not one of them wish well for Pakistan so when they write articles stating CPEC is “bad” and we are “concerned” about Pakistani peoples welfare you know the opposite are true.

    think when Pakistan was in a great difficulty on such as 26 feb ... where were all these so called concerned parties ?... what where they saying then ?
     
  8. Capt. Karnage

    Capt. Karnage BANNED

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    This whole projects was meant for facilitating the movement of Chinese goods to the countries in South and Central Asia. But the spread of China virus has angered almost every country in the world and this anger is directed against China and many countries have started to reduce trade with China gradually and banning China made goods. There won't be any buyers of Chinese goods soon so this project is already dead. There is won't be any returns for China.
     
  9. Yaseen1

    Yaseen1 ELITE MEMBER

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    delusions,end users not hate chinese products and only need value for money,just like indian medicines and movies have end users in Pakistan despite extreme hate between two nations
     
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  10. Capt. Karnage

    Capt. Karnage BANNED

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    Yes, they don't hate Chinese products they hate China for stealing a year or two from their lives. Trade destroyed, tourism destroyed, 300 thousand people killed and counting all because of evil Chinese. China cannot dodge the punishment which is total isolation of China and boycott of Chinese goods. And it has already started.
     
  11. Yaseen1

    Yaseen1 ELITE MEMBER

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    total boycott is impossible,there will be some bad effect on china but in long run people will forget it and things will become smooth,also china may launch such virus to originate from new countries where factories are shifting promoting hate against them
     
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  12. Capt. Karnage

    Capt. Karnage BANNED

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    Downfall of China has already started no matter what you say. All countries are united against China and their Trade policies have already amended to isolate China. Just recently 133 Chinese companies have been banned by the US and India banned China from investing in Indian cos. Also a trade war is going bet China and Australia and manufacturers are pulling out of China. I suggest you keep yourself abreast of current developments in the international sphere.
     
  13. Yaseen1

    Yaseen1 ELITE MEMBER

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    these are temporary circumstances ,chinese population is enough to keep demand of their domestic products for certain period and china will not easily allow alternatives ,there is high chance that when such new diseases spread from other countries world will forget about covid19 pandemic and companies will invest in china again,most of third world countries not hate china and are not banning chinese products,central asia,russia,Pakistan,Sirilanka,nkorea,iran ,Syria and gcc as well as eastern europe and latin america are enough for chinese economic sustainability
     
  14. Nasr

    Nasr FULL MEMBER

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    The 80% of Western debt of Pakistan, went to fill the bellies and pockets of traitor politicians, political mafias and their families. Haram Khor, kuttay ki nasal, ghaddars.

    Western debt translates into expenses paid in order that leadership in Islamabad, be elected by Washington DC, not the people of Pakistan. Scum like the Sharifs, Zardaris, Bhuttos, their families, their thugs and their families, are the ones who squarely are responsible for the destruction of Pakistan's economy.

    China on the other hand, spent the money in the development of their projects, so that the North-South Corridor be built and infrastructure was built to cater to this Corridor. China did this, so it can extend it's economic power across the Arabian Sea, into the Middle East and overpower it's rival, a weakling, hindia.

    The only reason why CPEC is possibly beneficial to Pakistan, is where an intelligent nation (which Pakistanis seem adamant in proving otherwise), which is united (which Pakistanis are determined to prove they are not), would exploit this infrastructure development to hammer down and build up it's industries through sheer hardwork, accountability and honest governance.

    Any country in Pakistan's place, which is determined enough, would exploit this opportunity and propel further as an economic powerhouse, than South Korea or Turkey.

    Pakistanis seem to be a deluded bunch, who worship anything because they think everyone is better than them. That's because they put down their own and fight amongst themselves like a pack of rabid dogs. They admire and are head over heels for Turkey, but they can't muster enough courage and unity long enough, to get their collective heads outta their asse$ in order to emulate or surpass Turkey as an economic power.

    Pakistanis seem to have another pitiful mental disease. They seem to think that some savior will rescue them from their plight. Meanwhile, rat-b@stards such as Sharifs, Zardaris, Bhuttos and Talpurs looted and plundered and raped Pakistan's wealth.

    Now, like a bunch of mindless buffoons, some among Pakistanis are calling China's CPEC, a death trap. Well news flash buddy, of course CPEC would be a death trap, when in Pakistan j@ck@$$es like the land-mafia, wheat-cartel and diesel-gangs run rampant. Where provincial govt of sindh is as jahil and gawaar and adamant as the bjp mafia in hindia.

    Any sensible nation (not Pakistan of course) would have the intellectual capacity, the proactive approach and the will power to exploit CPEC. Leaving every country in it's immediate neighborhood behind in the dust, and growing economically so powerful and with such lightning speed, that enemy is left dumb founded.

    But that's just any sensible nation, not Pakistanis, who act like a bunch of 5 year old spolit brats, with brains made of corn and cattle feed.
     
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  15. Capt. Karnage

    Capt. Karnage BANNED

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    I now have started to doubt your understanding of economics. It's India whose economy is driven by domestic consumption and China is a export driven economy so China is going to suffer severely. And majority of China's revenue come from Europe and the US which are now reducing trade with China. Russia is a weak economy suffering from fall in crude prices and so is the case with ME and GCC countries, they can't contribute much to China. Pakistan's economy is on the verge of collapse and it's aid money and waivers that keep it going. North Korea is a dysfunctional state and totally dependent on China for its existence and Sri lanka imports majority of its supplies from us. And that includes railway engines, automobile, weapons and lot of other essentials. So again china is screwed.