China hit by surge in Belt and Road bad loans, $78bn renegotiated or written off in past 3 years

[epebble]

It is amazing Karachi - a bustling metropolis of 20 million plus people gets no CPEC projects. While a shithole like Gwadar gets millions

I think the Gwadar is/was aspirational. There is/was a dream of making it a new Dubai or Abu Dhabi. Karachi has been ungovernable for a couple of generations and neither a lender nor a borrower wants to put much money on it. It is Pakistan's inner city. They would rather have a fancy development in the suburbs or exurbs and build new McMansions.

 

[nahtanbob]

I think the Gwadar is/was aspirational. There is/was a dream of making it a new Dubai or Abu Dhabi. Karachi has been ungovernable for a couple of generations and neither a lender nor a borrower wants to put much money on it. It is Pakistan's inner city. They would rather have a fancy development in the suburbs or exurbs and build new McMansions.

build a suburb near Karachi. is that hard ??

 

[etylo]

If you build a bridge in state of Nevada the federal government does not provide a pledge. Nothing other than federal treasuries and Export Import bank loans have sovereign pledges




It is amazing Karachi - a bustling metropolis of 20 million plus people gets no CPEC projects. While a shithole like Gwadar gets millions

The truth is that a lot of these Chinese projects are a bridge to nowhere.

Becos Pakistan wants to build a deep sea international port and city away from the unfriendly bully slum supa powa, and Gwadar is a good deep sea port location, simple as that.

 

[White and Green with M/S]

build a suburb near Karachi. is that hard ??

Yes for the corrupt officials it is hard

 

[epebble]

build a suburb near Karachi. is that hard ??

Let's say a mob can descend down suburban Karachi much easier than Gwadar? There is a reason wealthy Pakistanis build their palaces (or 'farmhouses' as they understate it) in rural areas.

 

[Menthol]

Becos Pakistan wants to build a deep sea international port and city away from the unfriendly bully slum supa powa, and Gwadar is a good deep sea port location, simple as that.

Yes, the deep seaport.

 

[Finer]

And they are never grateful, it feels like China owes them, Like China is begging them to borrow money and the money should never be paid back.

To be fair, China charges outrageous interest rates that is basically enslaving over the foreign entity. Loan with outrageous interest rates is something that can never be paid off. China greediness will be its own downfall. You cannot run the business like that. And I am not surprised why more write off will be expected and dump on the nation to pay the bills while the profits over outrageously loan interest rates are gobbled by corporations.

 

[beijingwalker]

To be fair, China charges outrageous interest rates that is basically enslaving over the foreign entity. Loan with outrageous interest rates is something that can never be paid off. China greediness will be its own downfall. You cannot run the business like that. And I am not surprised why more write off will be expected and dump on the nation to pay the bills while the profits over outrageously loan interest rates are gobbled by corporations.

I m suprised if it is really that "outrageous"as you claimed, how come countries around the wrold still borrow them. you can say that's because the corruption of one country, but when you apply it to the whole world, it doesn't add up right.

Since 2017, China has become the world's largest official creditor, surpassing the World Bank, IMF and 22-member Paris Club combined, Brent Neiman, a counselor to Yellen, said last September.11 Apr 2023

 

[beijingwalker]

Make no mistake, I m also against China lending money to other countries just for a good will or buying "friendship" against the west, China historically did it and is still doing it, this is the single biggest mistake that China is still making, this world is full of ungrateful scums.

 

[Finer]

I m suprised if it is really that "outrageous"as you claimed, how come countries around the wrold still borrow them. you can say that's because the corruption of one country, but when you apply it to the whole world, it doesn't add up right.

I just gave you the examples why outrageous loan interest won't work out in the long run. Ultimately at the end, it will lead to more hostile relationships. China is more interested in greediness than building the relationships.

USA focused on building the relationship with possible investments and only then they decided to dig their hands inside in terms of internal political affairs as part of influences. Whatever hands USA touched flourished while came at the price which was influences and total loss control of political affairs.

What China is doing is flat out digging to the graveyard faster than before. I hope I am wrong but greediness never results well and dumping on the nation that thrives on foreign investments to pay the bills is as gamble as China relationship with USA.

 

[beijingwalker]

I just gave you the examples why outrageous loan interest won't work out in the long run. Ultimately at the end, it will lead to more hostile relationships. China is more interested in greediness than building the relationships.

USA focused on building the relationship with possible investments and only then they decided to dig their hands inside in terms of internal political affairs as part of influences. Whatever hands USA touched flourished while came at the price which was influences and total loss control of political affairs.

What China is doing is flat out digging to the graveyard faster than before. I hope I am wrong but greediness never results well and dumping on the nation that thrives on foreign investments to pay the bills is as gamble as China relationship with USA.

Make no mistake, I m also against China lending money to other countries just for a good will or buying "friendship" against the west, China historically did it and is still doing it, this is the single biggest mistake that China is still making, this world is full of ungrateful scums.

In Chinese social media, we call it 撒钱, believe me, all Chinese population hate it.

 

[Menthol]

Make no mistake, I m also against China lending money to other countries just for a good will or buying "friendship" against the west, China historically did it and is still doing it, this is the single biggest mistake that China is still making, this world is full of ungrateful scums.

In Chinese social media, we call it 撒钱, believe me, all Chinese population hate it.

Yes.

If it's a failure, you will be blamed.

if it's a success, you will be forgotten.

 

[Finer]

Make no mistake, I m also against China lending money to other countries just for a good will or buying "friendship" against the west, China historically did it and is still doing it, this is the single biggest mistake that China is still making, this world is full of ungrateful scums.

China is not lending money out of good will. Only Saudi Arabia does and to the extent USA does in exchanges of services like Pakistan as nation did as part of war on terror to support USA.

China lends out impossible to pay loan back which is good as slavery in terms of economically speaking. Pakistan would be wise to step out of CPEC. It is not beneficial for Pakistan in the long run.

 

[beijingwalker]

China is not lending money out of good will. Only Saudi Arabia does and to the extent USA does in exchanges of services like Pakistan as nation did as part of war on terror to support USA.

China lends out impossible to pay loan back which is good as slavery in terms of economically speaking. Pakistan would be wise to step out of CPEC. It is not beneficial for Pakistan in the long run.

China should not lend money. at least we agree on this one point.

 

[Finer]

Yes.

If it's a failure, you will be blamed.

if it's a success, you will be forgotten.

Greediness is failure and building the relationship lasts decade.