China imports oil for its own needs, yet exports to Pakistan. Why?

[Beast]

I never mentioned anything on my expectation.

All I said was China is a Business, acts like a Business and means Business.

China is a single party capitalist country while US is a twin party capitalist country.

You say high retail price. Where did u get those info? You are the middle man or just make up to try fool others?

We make little profit when sell stuff to needy friends , not like the snake American or EU.

 

[SuvarnaTeja]

You say high retail price. Where did u get those info? You are the middle man or just make up to try fool others?

We make little profit when sell stuff to needy friends , not like the snake American or EU.

Making profit is not a crime. Why are you so defensive? Are you hiding something?

 

[Beast]

Making profit is not a crime. Why are you so defensive? Are you hiding something?

Making big profit at expense of allied is not our trait. You must be very worry when I exposed your lies.

I never say high retail price or big profit. You did.

 

[SuvarnaTeja]

Making big profit at expense of allied is not our trait. You must be very worry when I exposed your lies.

I never say high retail price or big profit. You did.

Does China lend money to Pakistan at lower rates than IMF rates?

 

[Beast]

Does China lend money to Pakistan at lower rates than IMF rates?

Yes and we even forgo some loan. Does truth hurts you?

 

[SuvarnaTeja]

Yes and we even forgo some loan. Does truth hurts you?

LOL and took control of their Stock Exchange. Pakistan has already ceded two of its islands to China and given total rights of its Saindak mines at a throwaway price of US$350 million to a Chinese company.

With Pakistan having a friend like China they don't need an enemy called India.

 

[peagle]

Yes and we even forgo some loan. Does truth hurts you?

Sorry bro, but you do not understand these people.
Please allow me to clarify.

Our nations operate out of love and mutual trust.
That nation operates out of hate and see everything else within the prism of hate. I hope you understand now lol

 

[Beast]

LOL and took control of their Stock Exchange. Pakistan has already ceded two of its islands to China and given total rights of its Saindak mines at a throwaway price of US$350 million to a Chinese company.

With Pakistan having a friend like China they don't need an enemy called India.

LOL... Another butt hurt Indian. You have no allies or friend. Every countries just treat India good on surface, just want to milk India more.

So you need to spew some venom at others to make you feel better!

 

[Pakistan Space Agency]

LOL and took control of their Stock Exchange. Pakistan has already ceded two of its islands to China and given total rights of its Saindak mines at a throwaway price of US$350 million to a Chinese company. ...

Stop spewing such nonsense. This is from 2007:

Singapore's PSA takes over Pakistan's Gwadar port

By Faisal Aziz

www.reuters.com

 

[SuvarnaTeja]

Pakistan learns the cost of an alliance with China

Wedded to Beijing, Islamabad has discovered it could be difficult to get out.

www.politico.eu

Pakistan learns the cost of an alliance with China​

Wedded to Beijing, Islamabad has discovered it could be difficult to get out.

Illustration by Jeremy Leung for POLITICO

BY SAIM SAEED
March 3, 2021 8:00 pm

• Share on Facebook
• Share on Twitter
• Share on Linkedin
• Mail
• Print

PRESS PLAY TO LISTEN TO THIS ARTICLE
Voiced by Amazon Polly
Protests, massive debt, dwindling cash reserves. Those are the consequences of Pakistan's increasing reliance on China — but the country has still decided it's all worth it.
It's not what Pakistan anticipated when it happily embraced a $60 billion handout from China in 2013, when the countries formalized the China-Pakistan Economic Corridor (CPEC), part of Beijing's international infrastructure strategy known as the Belt and Road Initiative. Initially, the realignment with Beijing seemed a win-win situation, as the cash-strapped South Asian country drifted away from its traditional ally: the United States.
Beyond the geostrategic satisfaction of outflanking India, the traditional mutual archenemy of both China and Pakistan, there have been plenty of tangible economic benefits too.

Thanks to Chinese money and expertise, Pakistan has added more electricity to its faltering grid and is now better connecting its own cities with new roads and public transit systems. In international forums, Islamabad has a more reliable backer than the U.S., especially when it comes to the issue Pakistan cares about most: berating India.
"They're all in," said Uzair Younus, a U.S.-based consultant who hosts a podcast on Pakistan's economy, referring to Islamabad's alliance with Beijing. "There is broad consensus that this the path forward for the country."
For Pakistan, the alliance has also meant relying on China for everything from fighter jets to coronavirus vaccines. In January, Islamabad said it would receive a "gift" of 500,000 doses of the Sinopharm vaccine. It is currently in talks with Beijing to secure more doses of both the Sinopharm vaccine and the Cansino vaccine.
"We ... value our unassailable friendship and strategic partnership," Pakistan's Prime Minister Imran Khan said last year.
The U.S. has had some cautious words about Pakistan's deepening romance with Beijing. A State Department spokesperson said Washington remained "concerned that some CPEC projects lack transparency and impose unsustainable levels of debt on Pakistan, with Chinese state-owned enterprises benefitting disproportionately."
It's not just the Americans who are worried. Many Pakistanis also observe that the alliance has been exacting on their country's resources, people and international reputation.

Money problems​

For one thing, Islamabad simply isn't able to pay China back. Bloomberg reported earlier this month that the Pakistani government will ask China for debt relief on the projects it splashed out on. Between 2018 and 2020, Pakistan added $17 billion to its external debt, totaling $113 billion last year.
Even in the best of times, Pakistan's finances are notoriously unstable. It's currently in a $6 billion International Monetary Fund bailout program — its 13th — but the size and terms of China's investment have meant an even greater cash crunch at a time when its economy is squeezed by the coronavirus pandemic. As a consequence, its debt has ballooned, its currency has nosedived and inflation has skyrocketed.
"They find themselves in a bit of a trap, but it's a trap of their own making," said Husain Haqqani, the director for South and Central Asia at the Hudson Institute, a Washington-based think tank, and a former Pakistani ambassador to the U.S.
Khan issued a public plea for debt assistance last year as the pandemic halted Pakistan's economy.
Younus, the consultant, said Pakistan's debt trap alone hardly tipped the scale against China. "The business community will say, yes we have debts, but Pakistan has always struggled to pay back debts." Pakistan has essentially swapped creditors, he said, while all its economic fundamentals remain the same.
But Pakistan might be trading away more than it bargained for.

"The U.S. or the IMF has never, ever, taken over someone else’s territory as payment for a loan," Haqqani said, citing China's takeover of the Sri Lankan port of Hambantota after the island nation ran out of cash.
"The terms of loans with a Western country are predictable and realistic," he said. "It's not the same with China. There’s less transparency."
Experts warn that the port of Gwadar, near Pakistan's border with Iran, has the potential to become a new Hambantota. Recent work on a fence around the port was only paused after local residents protested. It is unclear whether the order to build it came from the Pakistani government or at China's request, which is concerned about the province's security issues.
Neither the Chinese nor Pakistani government responded to requests for comment.
The projects have not boosted local employment either, with the Chinese construction companies preferring to ship their labor from China rather than hire local workers, fueling tensions further. And Haqqani points out that stronger trade and road links have helped Chinese goods be sold in Pakistan, but not the other way round.

Bundled together​

The problem, Haqqani said, is that the various aspects of Pakistan's relationship with China are intertwined. While European politicians can strike an investment deal with China while simultaneously criticizing its human rights record, Pakistan has a "one window operation."

"If you don’t give them what they want in the economic realm, they push back in the military realm. To keep the military relationship going, they have to give up the economic realm," he said. China is now Pakistan's biggest arms supplier, and with Pakistan's military playing an oversized role in its politics, the civilian government has to be wary it doesn't upset its generals in addition to Beijing.
"In the end Pakistan ends up giving everything," Haqqani said.
The "one window operation" partially explains Islamabad's reluctance to criticize Beijing for the human rights abuses being reported in China's western region of Xinjiang, which borders Pakistan.
Khan, the prime minister, sees himself as a spokesperson for Muslims worldwide. He has accused French President Emmanuel Macron of peddling Islamophobia and has written to Facebook chief Mark Zuckerberg about banning anti-Muslim sentiment on his platforms. But on the plight of Uighur Muslims who report systematic rape and forced labor, the Pakistani prime minister has been less vocal.
Experts say there is reluctance within the government and the military about the relationship, but that contrasts with both countries' official statements. Last year the governments announced an additional $11 billion in infrastructure projects, and the countries routinely talk up the partnership.
That's partly because Pakistan can't get itself out, explains Khurram Husain, a journalist who has written extensively about CPEC. "There is concern, but the space to do anything about it is very limited. They have very little room for maneuver."

Meanwhile Pakistan's relations with the West continue to unravel. With the U.S. winding down its military presence in Afghanistan, Islamabad's importance to Washington has diminished. Pakistan was not a party to the Muslim countries who recognized Israel last year, despite Washington's efforts.
The EU, meanwhile, is an important importer of Pakistani goods, but that trading relationship has not evolved into a deeper partnership — especially as the bloc prepares to host India for a top-level summit in Porto in May.
Pakistan has maintained that it's still open for business with Brussels and Washington, but Younus said the country's leaders "haven’t articulated that vision clearly and concisely." Accusing the French of "hate-mongering" hasn't helped the high-wire act.
"Pakistan has very few friends in the region, East or West," said Husain, the journalist. "China is the largest trading partner, the largest military supplier and playing a very helpful role in balancing out India. Pakistan needs China."
Haqqani, the former ambassador, said it didn't have to be this way. He cited the former Yugoslavia as a communist country that developed an independent foreign policy while preserving its distance from the Soviet Union.
"It's not too late," he said. "You can always break out."

 

[Beast]

Pakistan learns the cost of an alliance with China

Wedded to Beijing, Islamabad has discovered it could be difficult to get out.

www.politico.eu

Pakistan learns the cost of an alliance with China​

Wedded to Beijing, Islamabad has discovered it could be difficult to get out.

View attachment 817056
Illustration by Jeremy Leung for POLITICO

BY SAIM SAEED
March 3, 2021 8:00 pm

• Share on Facebook
• Share on Twitter
• Share on Linkedin
• Mail
• Print

PRESS PLAY TO LISTEN TO THIS ARTICLE
Voiced by Amazon Polly
Protests, massive debt, dwindling cash reserves. Those are the consequences of Pakistan's increasing reliance on China — but the country has still decided it's all worth it.
It's not what Pakistan anticipated when it happily embraced a $60 billion handout from China in 2013, when the countries formalized the China-Pakistan Economic Corridor (CPEC), part of Beijing's international infrastructure strategy known as the Belt and Road Initiative. Initially, the realignment with Beijing seemed a win-win situation, as the cash-strapped South Asian country drifted away from its traditional ally: the United States.
Beyond the geostrategic satisfaction of outflanking India, the traditional mutual archenemy of both China and Pakistan, there have been plenty of tangible economic benefits too.

Thanks to Chinese money and expertise, Pakistan has added more electricity to its faltering grid and is now better connecting its own cities with new roads and public transit systems. In international forums, Islamabad has a more reliable backer than the U.S., especially when it comes to the issue Pakistan cares about most: berating India.
"They're all in," said Uzair Younus, a U.S.-based consultant who hosts a podcast on Pakistan's economy, referring to Islamabad's alliance with Beijing. "There is broad consensus that this the path forward for the country."
For Pakistan, the alliance has also meant relying on China for everything from fighter jets to coronavirus vaccines. In January, Islamabad said it would receive a "gift" of 500,000 doses of the Sinopharm vaccine. It is currently in talks with Beijing to secure more doses of both the Sinopharm vaccine and the Cansino vaccine.
"We ... value our unassailable friendship and strategic partnership," Pakistan's Prime Minister Imran Khan said last year.
The U.S. has had some cautious words about Pakistan's deepening romance with Beijing. A State Department spokesperson said Washington remained "concerned that some CPEC projects lack transparency and impose unsustainable levels of debt on Pakistan, with Chinese state-owned enterprises benefitting disproportionately."
It's not just the Americans who are worried. Many Pakistanis also observe that the alliance has been exacting on their country's resources, people and international reputation.

Money problems​

For one thing, Islamabad simply isn't able to pay China back. Bloomberg reported earlier this month that the Pakistani government will ask China for debt relief on the projects it splashed out on. Between 2018 and 2020, Pakistan added $17 billion to its external debt, totaling $113 billion last year.
Even in the best of times, Pakistan's finances are notoriously unstable. It's currently in a $6 billion International Monetary Fund bailout program — its 13th — but the size and terms of China's investment have meant an even greater cash crunch at a time when its economy is squeezed by the coronavirus pandemic. As a consequence, its debt has ballooned, its currency has nosedived and inflation has skyrocketed.
"They find themselves in a bit of a trap, but it's a trap of their own making," said Husain Haqqani, the director for South and Central Asia at the Hudson Institute, a Washington-based think tank, and a former Pakistani ambassador to the U.S.
Khan issued a public plea for debt assistance last year as the pandemic halted Pakistan's economy.
Younus, the consultant, said Pakistan's debt trap alone hardly tipped the scale against China. "The business community will say, yes we have debts, but Pakistan has always struggled to pay back debts." Pakistan has essentially swapped creditors, he said, while all its economic fundamentals remain the same.
But Pakistan might be trading away more than it bargained for.

"The U.S. or the IMF has never, ever, taken over someone else’s territory as payment for a loan," Haqqani said, citing China's takeover of the Sri Lankan port of Hambantota after the island nation ran out of cash.
"The terms of loans with a Western country are predictable and realistic," he said. "It's not the same with China. There’s less transparency."
Experts warn that the port of Gwadar, near Pakistan's border with Iran, has the potential to become a new Hambantota. Recent work on a fence around the port was only paused after local residents protested. It is unclear whether the order to build it came from the Pakistani government or at China's request, which is concerned about the province's security issues.
Neither the Chinese nor Pakistani government responded to requests for comment.
The projects have not boosted local employment either, with the Chinese construction companies preferring to ship their labor from China rather than hire local workers, fueling tensions further. And Haqqani points out that stronger trade and road links have helped Chinese goods be sold in Pakistan, but not the other way round.

Bundled together​

The problem, Haqqani said, is that the various aspects of Pakistan's relationship with China are intertwined. While European politicians can strike an investment deal with China while simultaneously criticizing its human rights record, Pakistan has a "one window operation."

"If you don’t give them what they want in the economic realm, they push back in the military realm. To keep the military relationship going, they have to give up the economic realm," he said. China is now Pakistan's biggest arms supplier, and with Pakistan's military playing an oversized role in its politics, the civilian government has to be wary it doesn't upset its generals in addition to Beijing.
"In the end Pakistan ends up giving everything," Haqqani said.
The "one window operation" partially explains Islamabad's reluctance to criticize Beijing for the human rights abuses being reported in China's western region of Xinjiang, which borders Pakistan.
Khan, the prime minister, sees himself as a spokesperson for Muslims worldwide. He has accused French President Emmanuel Macron of peddling Islamophobia and has written to Facebook chief Mark Zuckerberg about banning anti-Muslim sentiment on his platforms. But on the plight of Uighur Muslims who report systematic rape and forced labor, the Pakistani prime minister has been less vocal.
Experts say there is reluctance within the government and the military about the relationship, but that contrasts with both countries' official statements. Last year the governments announced an additional $11 billion in infrastructure projects, and the countries routinely talk up the partnership.
That's partly because Pakistan can't get itself out, explains Khurram Husain, a journalist who has written extensively about CPEC. "There is concern, but the space to do anything about it is very limited. They have very little room for maneuver."

Meanwhile Pakistan's relations with the West continue to unravel. With the U.S. winding down its military presence in Afghanistan, Islamabad's importance to Washington has diminished. Pakistan was not a party to the Muslim countries who recognized Israel last year, despite Washington's efforts.
The EU, meanwhile, is an important importer of Pakistani goods, but that trading relationship has not evolved into a deeper partnership — especially as the bloc prepares to host India for a top-level summit in Porto in May.
Pakistan has maintained that it's still open for business with Brussels and Washington, but Younus said the country's leaders "haven’t articulated that vision clearly and concisely." Accusing the French of "hate-mongering" hasn't helped the high-wire act.
"Pakistan has very few friends in the region, East or West," said Husain, the journalist. "China is the largest trading partner, the largest military supplier and playing a very helpful role in balancing out India. Pakistan needs China."
Haqqani, the former ambassador, said it didn't have to be this way. He cited the former Yugoslavia as a communist country that developed an independent foreign policy while preserving its distance from the Soviet Union.
"It's not too late," he said. "You can always break out."

LOL.. NIce try. Fake article from western world. The same source who claim Western countries are better prepare to handle a pandemic?

 

[SuvarnaTeja]

Sorry bro, but you do not understand these people.
Please allow me to clarify.

Our nations operate out of love and mutual trust.
That nation operates out of hate and see everything else within the prism of hate. I hope you understand now lol

LOL.. NIce try. Fake article from western world. The same source who claim Western countries are better prepare to handle a pandemic?

You can find Chinese generosity towards Pakistan in this report

China Research by AidData

Our data, tools, methods and reports on Chinese global development, official finance, public diplomacy, infrastructure projects.

www.aiddata.org

Loans given to Pakistan under CPEC at commercial rates: report

Islamabad [Pakistan], September 30 (ANI): A major portion of Chinese financing under the China-Pakistan Economic Corridor (CPEC) consists of loans that are at or near commercial rates as opposed to grants, according to a report.

sg.news.yahoo.com

Loans given to Pakistan under CPEC at commercial rates: report​

ANI
30 September 2021·2-min read

Representative image
Islamabad [Pakistan], September 30 (ANI): A major portion of Chinese financing under the China-Pakistan Economic Corridor (CPEC) consists of loans that are at or near commercial rates as opposed to grants, according to a report.
The findings are part of a report published by AidData, an international development research lab based at the College of William and Mary in Virginia.
The report said Chinese loans under CPEC constitute 95.2 per cent and 73 per cent of total commitments in energy and transport sectors, Dawn newspaper added. It said that China has committed USD 34.4 billion in development finance to Pakistan between 2000-2017.

The interest rate is 3.76 per cent for an average loan with 13.2 years' maturity (when full repayment with interest is due) and 4.3 years of the grace period, the newspaper report added.
This comes as China's highly touted BRI seems to be losing its sheen everywhere, as various issues including work at slow pace and terror attacks slow down the CPEC progress.
Beijing is much concerned about the CPEC, which is the centrepiece of the BRI. The sluggish pace of work, frequent terror attacks, and incidences of corruption have slowed it down, Hong Kong Post reported.
According to AidData report, China's BRI has left scores of lower- and middle-income countries (LMIC) saddled with "hidden debts" totalling USD 385 billion. It said China has used debt rather than aid to establish a dominant position in the international development finance market.
The report has analysed more than 13,000 aid and debt-financed projects worth over USD 843 billion across 165 countries. According to AidData, over 40 LMIC now have levels of debt exposure to China higher than 10 per cent of their national gross domestic product.
The number of "mega-projects"--financed with loans worth USD 500 million or more--approved each year tripled during the first five years of BRI implementation.
Despite larger loans and expanded loan portfolios, BRI has not led to any major changes in the sectoral or geographical composition of China's overseas development finance program, the report said. (ANI)

You have no allies or friend. Every countries just treat India good on surface, just want to milk India more.

Surely we do not want friends like China who dump all their goods to destroy our local businesses. Please stay away from India.

 

[Pakistan Space Agency]

Pakistan learns the cost of an alliance with China​

For your information, Pakistan wants more of everything that China has to offer. A lot more.

Just to give you an idea.
Sino-Pak bilateral trade (2021): $28 billion
US-Pak bilateral trade (2021): $7 billion

Nobody is stopping or has ever stopped the US from investing $60 billion and developing CPEC or any other part of Pakistan. The US and the EU are welcome any day to invest $200 billion in Pakistan and develope the country's transport and energy infrastructure.

All are welcome and were always welcome but they've dragged their feet for 70-years.

 

[SuvarnaTeja]

For your information, Pakistan wants more of everything that China has to offer. A lot more.

Just to give you an idea.
Sino-Pak bilateral trade (2021): $28 billion
US-Pak bilateral trade (2021): $7 billion

Nobody is stopping or has ever stopped the US from investing $60 billion and developing CPEC or any other part of Pakistan. The US and the EU are welcome any day to invest $200 billion in Pakistan and develope the country's transport and energy infrastructure.

All are welcome and were always welcome but they've dragged their feet for 70-years.

Yes I understand that there is a big Pakistani diaspora in China unlike in UK, US, Australia and Canada.

I was stunned when Sadiq Khan became the mayor of Beijing.

 

[Flash_Ninja]

China imports oil
it exports refined petroleum products.

Something which Pakistan refuses to do for some reason, despite having abundant supply lines from Arabia and Iran.