Tanzania President cancels $10billion Chinese loan; Refers to the Terms and Conditions As One That C

[That Guy]

Can you quote the method and scheduling repayment for the loan?

You can look it up online, but a few of the issues I can see is the 30 year guarantee, and 99 year lease, along with Tanzania having zero say on who would be investing into the port at the time.

There was also a tax free status, which would mean next to no tax revenue would be generated from the project itself, during the time, in order to pay back the loan.

 

[Turingsage]

Mozambique is now for all practical purposes owned by the Chinese. Mozambique cannot any longer make its own foreign policy, that is decided in Beijing.
Africa is slowly waking up from the myth of Chinese largess and beginning to see that this is just like European colonialism from the 18th and 19th century with 21st century twist. No slavery , no army, just take over the financial bones of a country and turn it into a subservient supporter of Chinese imperialism

 

[That Guy]

No one other than the top leaders know the exact term.

Healthcare are consumption and reduce wealth. Infrastructure is production bias. Chinese Infrastructure plans ahead of time. White man always ridicule it as white elephant. And white man are always found to be wrong later.

Sovereign government can do what they want to the point of confiscation and default.

I really don't care what other have to say, including white people. I make my own conclusions, based upon the information given.

Healthcare is only a drain, if it's not managed properly. For example, a healthy society works harder, and for longer periods, generating more wealth and increasing overall happiness.

Education is almost always a net positive for society. An educated population results in more doctors, lawyers, engineers, scientists, scholars, and even the level of basic labor increases in quality.

Last Sri Lanka government confiscated Hambantota. Of course the Chinese armada of merchant fleet is going to avoid this port like plague.

They confiscated the port after China tried to take it, due to a lack of loan payments being made. The port generated zero income for a long while, before Sri Lanka decided to confiscate the project. Though, I'm willing to bet the confiscation was also due to local and international pressure, which I fully admit is also a part of the reason.

This also shouldn't stop Chinese ships from docking in Sri Lanka. That's not a good enough reason to avoid the port, just because of who the owner is.

 

[Tom99]

You can look it up online

I can't find any reliable sources of it online. Since you know about it can you please link?

 

[Song Hong]

I do not know how you base your conclusion.

No government will sponsor foreigners' education and healthcare, other than giving some scholarship or token funding. China is not mother.

Anything need to benefit mutually.

*********
********"confiscated the port after China tried to take it, due to a lack of loan payments being made. "*****
*********

The port belongs to China. China never tried to take anything.

Then Sri Lanka confiscated it.

I really don't care what other have to say, including white people. I make my own conclusions, based upon the information given.

Healthcare is only a drain, if it's not managed properly. For example, a healthy society works harder, and for longer periods, generating more wealth and increasing overall happiness.

Education is almost always a net positive for society. An educated population results in more doctors, lawyers, engineers, scientists, scholars, and even the level of basic labor increases in quality.


They confiscated the port after China tried to take it, due to a lack of loan payments being made. The port generated zero income for a long while, before Sri Lanka decided to confiscate the project. Though, I'm willing to bet the confiscation was also due to local and international pressure, which I fully admit is also a part of the reason.

 

[That Guy]

I can't find any reliable sources of it online. Since you know about it can you please link?

Dude, a lot of this information is publically available. Go through google scholar, if you have to.

And no, I don't have a link. I HAD a link, but I've since gotten rid of it.

 

[Song Hong]

There is no Chinese occupation army. People are free to set their policy.

Mozambique is now for all practical purposes owned by the Chinese. Mozambique cannot any longer make its own foreign policy, that is decided in Beijing.
Africa is slowly waking up from the myth of Chinese largess and beginning to see that this is just like European colonialism from the 18th and 19th century with 21st century twist. No slavery , no army, just take over the financial bones of a country and turn it into a subservient supporter of Chinese imperialism

 

[That Guy]

I do not know how you base your conclusion.

No government will sponsor foreigners' education and healthcare, other than giving some scholarship or token funding. China is not mother.

Training doctors and building and funding schools isn't controversial, and happens all the time.

Anything need to benefit mutually.

Which is why I don't like the idea of loans. It should be trade, not aid.

*********
********"confiscated the port after China tried to take it, due to a lack of loan payments being made. "*****
*********

The port belongs to China. China never tried to take anything.

Then Sri Lanka confiscated it.

No, the port belongs to Sri Lanka, on failure of payment, it was to be LEASED to China for a period of 99 years. Meaning, no change of sovereignty would occur.

And that's the thing isn't it? Aren't you proving me right here? The port made no money, resulting in no revenue generated to pay off the loans, so China tried to take it. That is why nations are backing away from Chinese loans.

 

[Tom99]

Dude, a lot of this information is publically available. Go through google scholar, if you have to.

And no, I don't have a link. I HAD a link, but I've since gotten rid of it.

So, where the heck are you reading the information from that suppose your statement below?

There was no way they would have been able to pay off those loans.

If no links then tell me/us what you remember about the "method and scheduling repayment for the loan." Don't say you don't remember because you remember enough to make this statement that "there was no way they would have been able to pay off those loans.

 

[Song Hong]

Say whatever you want to say. Current GoSriLanka is returning the port to China.

China had build hospitals and schools in many countries. Many countries got few millions.

Only mother will pay you billion dollar for your schools and healthcare. This is job of mother. Not China.

 

[Tom99]

Say whatever you want to say. Current GoSriLanka is returning the port to China.

No. Sri Lanka is not returning the port to China since China never owned it. Sri Lanka owns the port but China operates it. Sri Lanka also controls the security of the port.


https://www.scmp.com/comment/insigh...sri-lankas-hambantota-port-chinese-debt-traps

US consultants the Rhodium Group recently released a study
into Chinese asset seizures and found just one instance: the above-mentioned Hambantota port.However, interviews we have done in Sri Lanka show that even this lone instance is not remotely true.

China holds an estimated 9-15 per cent of Sri Lanka’s external debt.
Some of the rest is high-interest loans from (mainly Western) commercial banks. International sovereign bonds account for about half of the external debt, with Americans holding two-thirds of their value and Asians only about 8 per cent.

Ironically then, if Sri Lanka is debt distressed, it owes more to American and other Western entities than to its Chinese counterparts. Yet, as both a past and a present governor of Sri Lanka’s central bank stressed to us in interviews, Sri Lanka has never defaulted on any loan payment and has not sought to have any external debt rescheduled.

 

[Turingsage]

There is no Chinese occupation army. People are free to set their policy.

Obviously you have a problem with English. My post says no army, instead in the 21st century twist, you get hold financially of Africa's "short and curlies". You also as a closed controlled society are able easily to bribe many African ministers without anyone ever finding out.
Selling and giving weapons to absolutely corrupt regimes is another Chinese speciality which has ensured the promotion and survival of the most horrible "leaders" . These "leaders" in turn have mortgaged their own countries to China
Chinese imperialism is real and it is here. Especially in Africa. I myself spent 20 years in Africa and I know

 

[bananarepublic]

Mozambique is now for all practical purposes owned by the Chinese. Mozambique cannot any longer make its own foreign policy, that is decided in Beijing.
Africa is slowly waking up from the myth of Chinese largess and beginning to see that this is just like European colonialism from the 18th and 19th century with 21st century twist. No slavery , no army, just take over the financial bones of a country and turn it into a subservient supporter of Chinese imperialism

Kenya is also slowly falling into Debt problems their expensive infrastructure with such a small GDP is slowly making them realize that they wont be able to pay it soon.

 

[Tom99]

Obviously you have a problem with English. My post says no army, instead in the 21st century twist, you get hold financially of Africa's "short and curlies". You also as a closed controlled society are able easily to bribe many African ministers without anyone ever finding out.
Selling and giving weapons to absolutely corrupt regimes is another Chinese speciality which has ensured the promotion and survival of the most horrible "leaders" . These "leaders" in turn have mortgaged their own countries to China
Chinese imperialism is real and it is here. Especially in Africa. I myself spent 20 years in Africa and I know

Lets pretend all the nonsense you spew are true. Yet all these African countries still continue to choose to get loans from China instead of India. Think about that.

 

[Turingsage]

Lets pretend all the nonsense you spew are true. Yet all these African countries still continue to choose to get loans from China instead of India. Think about that.

Having lived in Africa I know that China has exploited the endemic corruption in the African leadership to the fullest extent. It keeps all these agreements which are against the interests of the country SECRET. The Chinese LOVE their secrets and the African minister who gets a few million in his swiss account is certainly not going to be bothered. Usually its many years later that people find out how they were sold , their country sold, their interests sold.
The Chinese are seeking subservience and complete support of their nefarious designs in this example of 21st century colonisation and imperialism

Of course you take pride in your countries imperial designs. The Europeans too believed they were BENEFACTORS bringing wonderful goodies in return for running and ultimately owning these countries. They also believed in the honesty and benevolent intent of their actions.

But it was colonialism and imperialism in reality