Is CHINA using DEBT to CONTROL Africa? - VisualPolitik EN
ฝัง
- เผยแพร่เมื่อ 3 ต.ค. 2024
- This video has been an express request from all the members of the Patreon community. So it is particularly dedicated to all of you.
If you want to join our Patreon community, you can find all the information here: / visualpolitik
A vast continent full of riches and a rapidly expanding population. The last continent to join modernity. A land of infinite opportunities. A territory on which the People's Republic of China has focused its attention and into which it has poured its capital: Chinese money and companies are now spread throughout this continent. Something that is causing a lot of concern in the West. In this video we tell you all the details about the so-called debt trap in Africa.
It's funny how this channel or any western channels have never made video on French neo colonisation of Africa but have posted like 1000s of videos on Chinese investment in Africa
@Liver Success i was talking about Present French intervention and neo colonisation on Africa not even past one
@Liver Success France is very active militarily and economically in her former colonies in Africa.
@noone,I also wonder!But with everything said, there's no other country that's done more good to the African continent than China!
Because they are jealous of China, but instead of taking action to help Africa, they keep sucking blood
@@butterfly7562 the world is freaked out of china just like north korea's atomic bombs theats.
We will always have compassion for chinese people because they are victims of the communist party but we will never accept the communist party itself.
If you think the Chinese are evil,why can't you make a video about French neo-colonial schemes in Francophone nations. But I'd rather accept Chinese infrastructure rather than America's democracy,(as we saw in Libya!)
The word you should've used is 'Chinese dictatorship' and not 'Chinese infrastructure'.
China wants to do what france is doing to Africa on a planetary scale. China is not your friend.
@@Oberoy248 I would accept it nonetheless lmao
Africa will be renamed China .America is a free country.When China finishes,you will wish you were in America
I am not African but i love if someone invest in African continent. We don't need to run multi billion charity to show poor ppl of Africa to collect charity money.
Yea but with china, that's bad. Because once African countries runs out of money to pay China, china well just say well we are taking all your shit and leave you homeless
@@nesseihtgnay9419 China > Europe
@@nesseihtgnay9419 'The How China Lends: A Rare Look into 100 Debt Contracts with Foreign Governments study found scant evidence of debt traps.' ... 'Like How China Lends, the Rhodium Group, an economic research firm, didn’t find any clear-cut asset seizures in a review of 130 bilateral debt renegotiations involving China between 2000 and 2020. The firm’s previous research found bilateral debt renegotiations with China “usually involve a more balanced outcome between lender and borrower, ranging from extensions of loan terms and repayment deadlines to explicit refinancing, or partial or even total debt forgiveness”' ... 'Few examine how projects are designed, financed, or awarded before making an allegation. This is why projects involving China in any way are often mentioned as part of debt trap speculation. The debt trap theory - one scholar called it a meme - has become a catch-all.' That meme was invented by Brahma Chelaney, an Indian who's made an entire career out of it.
Also people should watch Gyude Moore China in Africa An African Perspective to get some perspective on Chinese participation in Africa - from an actual African decision maker rather than a western commentator. Chinese loans are better described as commercial loans, which is why African countries take them. Which is to say, they're more similar to standard business loans than the kinds of highly conditional and interventionist loans western govts or the IMF (look up the 'Structural Adjustment Programs' about that) insist on. In other words, China ironically respects African govt. sovereignty better than the highly paternalistic West does i.e. they don't dictate national economic policy to recipient nations (for a metaphor closer to home, think of the austerity packages that the EU insisted Greece and other distressed economies implement following the 2008 economic crisis fallout - China mostly doesn't do that).
China is draining out your money because of your stupid politicians think again fool
Curious how the African people will rarely come up in this West-led debt-trap orchestra. It's always assets or natural resources etc. But what if that, the African people, is who China is targeting? As a manufacturing powerhouse, 1.2 billion more customers wouldn't hurt --especially with the West becoming increasingly hostile. But for the market to mean anything, it needs to have some purchasing power. So, give them the loans to build the infrastructure they so badly need to grow their economies so they can afford more of your goods. You'll get back your dough with interest, but most importantly, you will have created a whole new market for your stuff. It's a win-win and I speak this right from the African grassroots.
You are still thinking of it from a Western market base philosophy. Yes, China wants a market, but you are foolish if you think they care about the workforce in Africa. There is a reason why many countries have ended their contracts with China and have banned the importation of any goods. When the Chinese flood local African economies with goods, it bankrupts local businesses INCREASING unemployment. The infrastructure projects actually do very little to jumpstart and economy, merely facilitate an already existing one. And most of the ones China builds is so it is easier to extract resources from those countries and transport them to ports to be shipped to China.
@@davidford3115 Wtf are you talking about? China is the largest importer of African goods. They are a supporter of African growth and want to see a powerful Africa (for geopolitical purposes to balance out the west of course).
@@davidford3115 Thank you Mr Ford, and I hope you do realise that a divergent opinion from yours doesn't make me, or anyone else, foolish. That said, I didn't say China cares about the workforce. I said China wants the population to grow some bit of wealth so they are able to buy its goods. And about Africa's resources, pray tell me, what is the problem with China hauling away some? The West has been milking the continent dry for a century and what do we show for it? At least China is building the roads... And on the relations between infrastructure and economic well-being, I can only hope you are just kidding...
@@davidford3115 mind your business sir, you are under every comment bashing people with different views. Take your fight to the CCP and leave Africans alone.
@@mutegikimathi6258 Don’t mind @David Ford He is Anti China and that OK but he can’t stop bashing everybody under the comment section.
Well I rather take debt trap than death trap from western countries. 🤣
I mean I don't see US or Europe lining up to supply capital for infrastructure projects at low interest rates. Africa needs infrastructure.
What are you talking about? Did you even watch the video? China only funds around 25% of infrastructure, the rest is by UK, France, and IMF.
"Africa needs infrastructure."
The right infrastructure. Not just some infrastructure just for the sake of it!
Kenya's new standard gauge railway is one such example. The old meter-gauge railway was in a bad state because of a lack of proper maintenance. Even then it could have been revamped for a small fraction of the money that was spent on a brand new parallel SGR. Countries like New Zealand and Japan still run their freight trains on narrow gauge tracks.
@Christopher Meisner that's kind of stupid, what can the Chinese do with all these infrastructures when taken over?
Like the metro, If it wasn't making a profit, why the Chinese wanted it?
Unlike the port in Sri Lanka which has strategic value.
@@jarjarbinks3193 I don't see how that's a China problem. That's an African government's problem. If funds are there to fund projects the onus is on the govt to thoroughly research the costs and benefits of any project.
@@tubester4567 the world bank isn't the US or Europe Sir. It's a Bank with steep interest rates. It's not concessionals loans.
We africans love china better than weast
That's because you have no sense of Independence. You're always looking for another man to feed you.
Its true, with China its a win-win situation but China just wins more, with the West its a win-lose situation where only the West wins.
@@darkundead don't try to put Africans into religious diplomacy. African muslims like me could care less what happens outside africa. We are Africans and Africa is our motherland
@@darkundead Shut up hypocrite 😂
Only because you have yet to experience what happens when China comes to collect their "pound of flesh".
I think most of us, 99% of us misunderstands why China invests in Africa, whether is loans, or infrastructures. Everyone in the comment section thinks is for resources or political influence. But neither. As someone who worked in finance industry for years and spoke to multiple people that in one way or another worked with China on this policy I can say that China is doing it for their own economic reasons but not for taking resources. But for African countries to go from resource exporter to goods purchasers. China, if you study their current economic and development model, is keen on maintaining their status quo in manufacturing, still maintaining a small % of cheap goods, but large makes middle level to high end goods such as EVs and electronics. These brands are already competing with the US brands hence why the sanctions on Chinese firms during Trump's presidency. China foresees more political conflict with the US so cannot solely depend on the US being it's customer. So what they are doing is loaning money to these poor countries, to build up their infrastructure, and helping their citizens become wealthier, then in return they will buy Chinese made goods, whether they are politically aligned with China or not. It's the same strategy they did in SE Asia, which is why almost all of the ASEAN countries chose China over the US this year. And why countries like New Zealand is also choosing China over the US. At the end of the day, politics isn't going to feed your people, and most governments know that, America is probably the most politically correct country in the world right now but still have massive tent cities and homeless people in both side of the coast. When looking at China, don't look at it from a white guy's perspective, they aren't white, and never colonized any nation, they themselves was colonized and I can tell from the people I meet in China they absolutely hate colonialism in any form or fashion.
The US needs to get its act together. They are focusing too much on identity politics rather than actually competing with China or whatever is happening outside their own country. If they don't, then US will be in big trouble. However, we shouldn't ignore the troubles in China over the past year (dealing with covid, corruption, energy crisis) and internal conflicts it is facing. It would be bad if both China and the US would plummet.
Exactly, like I said, Lack of Perspective. This world has some different and interesting angles than many people may think.
You are adorable and gullible😂
Every time the US or Western European countries insinuate that Africans are being taken advantage of by the Chinese, they are actually insulting Africans. It is up to African nations to decide how they want to manage their own internal affairs and with which countries they want to engage with. Whether it comes to trade relations, investments, diplomatic relations or cultural exchanges it is really up to each African nation to decide how it wants to manage its business. Instead of criticizing China (and most of the criticism is questionable and really very suspect) the US and its western allies should offer alternatives instead of demonizing China all the time. Last but not least, Africans should never ever again be subject to western views of racism and bias that belittle Africans and their achievements !!!
Facts
Thanks, they really need to get this into their skull in the west. Africans can decide to work with whoever they want.
I have actually gained a lot of insight on the US or the West view of Africa from all this Sino-Africa relations.
They arent concerned for Africans its more like WHY IS AFRICA AND CHINA WORKING TOGETHER ?
Good Luck Africa then.
I didn't know France and United Kingdom rival china for foreign direct investment in Africa. Makes sense as almost every African country has been occupied by these countries over the last 400 years.
Especially France. The problem when you're still piggy-packing off of Africa, though, is that you've become so dependent on it, over half of your resource extraction and about a third of your resource outputs are coming directly out of that continent. It's a shame that in focussing so much on making Africans do the work, the French people are becoming lazier than ever and its economy stagnating. France could become a super power if its people had the work ethic of the germans and still kept a firm hand on the African continent.
Um most of the countries they colonized only were colonized during the scramble for africa
@Scoopz the work ethic of exploitation of course just like the Germans lol
@@vivelafrance6314 the French have stolen enough. they should leave
Almost every African country's been occupied for almost 400 years? you pulled that out your butthole. The scramble for Africa began in the 1800s
What a broad generalization, but I am glad you touched on the fact that African countries owe the same if not more debt to IMF, World bank etc than to China. I am not a fan of China, but people should live and let live. African countries can align themselves with whoever they want. They can do business with each other, China, Europe and the USA. It crazy how this China debt trap videos circulates more than Europe and America debt traps through IMF, world bank etc.
agenda flows with money now. those media outlets are funded to especially do those kind of things
We consume in the English language. Obviously, the propaganda from US/EU is going to be overwhelmingly more powerful.
China buys economic influence. These loans don't lend themselves to being paid back. And so you know the people of Africa don't want them. The corrupt governments do however as its money in their pockets.
@@hendrick9538 but i see infrastructures being built. Unlike IMF, nothing come out of it.
@@JR-vc4gm IMF money were meant to be spent by the gov but they r too corrupted to spend anything.
NOOOO, majority of African debt is owned by IMF and WORLD BANK. Western lenders send money which is then siphoned and banked in WESTERN BANKS. On the other hand, China gives out loans, send engineers and experts to build infrastructure and moves on to other project. Western loans are 80% transfered back to North America and Europe while Chinese loan are only 20-30% siphoned. Funny enough, African leaders bank proceeds of Chinese loans in EUROPE and American jurisdiction. Now you can guesss why US&EU arent happy with African countries accessing Chinese loans.
There is more to it than that. China obligates these countries to remove ALL trade restrictions and tariffs on goods imported from China. The result is a food into the local markets bankrupting local businesses. While the aristocracy of those Africa countries may be making bank on Chinese loans, it is the regular population who pays the interest on those loans via taxation. Just because Chinese loans are "cheaper" than loans from Europe doesn't make them better. it is the strings attached that make them a Faustian bargain.
@@davidford3115 80% true, although lacks "lesser evil" considerations. However, using evidence-based analysis; Chinese loans offer tangible outcomes (regardless of poor national governance and corruption on part of African leaders). IMF, WB & Western lenders give money but never bothers to send specialists to help achieve the budgeted projects (except for Japan, rarely). African leaders loot the loans and wire them to Europe and other Western jurisdictions such as New Jersey, Virgin Islands, Swiss banks. Just look at reports on secret financial transactions and you'll realize majority clients are Latin, African, and South Asian leaders, who happen to have ZERO/INSIGNIFICANT businesses relative to their wealth.
@@paullnetinstitute4799 I don't disagree that corrupt African leaders misappropriate loans and that Western bankers don't hold them accountable for the fraud. But the idea that Chinese loans are any better because they send "specialists" is not seeing the forest for the trees. Those "specialists" are not advising what is in the best interests of the African countries, they are advising them to take actions that are in the best interest of China, even if it is detrimental to the nation. Trading one evil for a different evil isn't picking a lesser evil, it is just affirmatively making a bad choice when the best option is to not play at all.
@@davidford3115 Is that wrong, or only wrong when China does it ? America used to love free trade and economic liberalization. In the 19th and 20th centuries America wanted the British Empire to remove tariff and trade barriers, they thought free trade was a game they could win.
@@jakedee4117 When you win a trade war through better quality products without putting your customer over a barrel, what is the problem? The UK was notorious during the 17th and 18th centuries of doing as China is doing today. The US during the 19th and 20th centuries didn't create a mercantile empire the way the British and the Dutch did through colonialism and military adventurism. We didn't create vassals beholden to us the way the British and the Chinese have done.
To be fair, it far easier to be accusing of others of exploiting Africa than to actually do something real and useful
The west has donated and load trillions to Africa to use as they will. What the west didnt know is that Africa needs both the money AND hundreds of thousands of westerners to go live in Africa and do ALL the work for them
Whatever happening in Africa just don't listening West rule number 1.
China actually Holds just about 21% of Africa's Debt, who owns the rest? You haven't done justice to this topic, you made it seem like an anti China presentation. Africa's Debt cannot be talked about from a Chinese perspective because that perspective is rather narrow and shallow. I hope for edutainment's sake you'll go back and do a proper presentation.
It's just one country, with 21%.
Um no they did an excellent presentation on the topic, which was - as a reminder - "Is China using debt to control Africa" NOT "Which countries hold African debt". Please stay focused.
@@docken11 stay focused on a propaganda video? No thanks.
@@docken11 They always do excellent presentations that's why I'm a subscriber to this channel. On this one they got it biased. I'll stay unfocused it's better for me. The African Debt issue makes more sense if it has some background to it. China is unsettling the West in Africa that could have been a better title to this.
@@JR-vc4gm Feel free to point out one lie in this video. Seriously not sure why China apologist are so sensitive to the truth, it just raises suspicions even more. You'll note that when people criticise the west people don't don't up and down calling it "propaganda"... a hint that maybe self image is a bit brittle!
It's not just China. African countries owe lots of debt to western countries, the IMF,world Bank and the Paris club.
and yet western countries cannot just delcare a debt as "default" and take assets such as airports, infrastructure, docs ect. China can declare the loan to be in default, with the full amount of the debt due and payable immediately, under an astonishingly broad range of events, including the debtor taking action adverse to almost any Chinese entity.
as such any loans a government takes from china can be pulled out and they can demand infrastructure or raw materials as payment for the interest owed if an african country goes against china or any chinese company.
@@zurie35 best example would be Sri Lanka. They failed to pay loans to China so China ended up taking control of their port.
@@MJ-27 not just them but Zimbabwe, Uganda, Cuba, list goes on and on over airports and stuff that they've taken too.
The West is just mad that they're losing the monopoly they had 😂😂.
I know right? Now China can exploit Africa too. So happy that you're equal oppertunity when it comes to who controls your country.
@@Wanderer628 China is not exploiting Africa, nice try though
Saying a country isn’t exploiting Africa is like saying people aren’t greedy.
@@Endoplexer China is exploiting Africa as much as Germany is exploiting the US...
Considering how immigrants segregate from each other regardless of culture, I don't expect Chinese businesses to be much different.
America and Europe has done the same thing as china
China is copying America
Yeah western countries just don’t like that China ( a communist country) is doin capitalism better than themselves
@@angryatheist ofc they would they control everything within thier country companies people everything its only a matter of time before China blows up from within
@@AJ-happydad America will blow up way earlier than China at this rate lol
haven't Western countrries forgiven the majority of debt?
The competition between USA and China will greatly benefit poor nations in Africa as it allows them to choose the country that promises the best deal.
You are right, and that is a shame. They should choose the one that can DELIVER the best results. Chinese dams has been shown to collapse, the same goes for their bridges. The Chinese firms has been shown time and time again to be abusing their and discriminating against their African work force, or simply use child labour. Because the working conditions were too bad for the adults.
The Cat Has Drowned 🤭
But promises are different than acts
The IMF/World bank disagree. How can they extort other countries if they have a second option.
Yes, competition will benefit the Africans.
Not just Africa, but Eastern Europe too
What countries of eastern Europe?
Not true
@@ZyczePowodzenia Disneyland I guess
As an African I think the West has to start to learn to consider Africa as partners instead of a bunch of people that they can continue to manipulate. I for sure would rather see closer ties with the West because of its embrace of freedom and democracy as opposed to China's tyranny and oppression. But here is the thing. We are a result oriented people. We have to see tangible results otherwise we move on to the next person. The Chinese understands this which is why they always go for big infrastructure projects that the people can see for themselves. The West prefer to hand billions to extremely corrupt politicians knowing very well that the money will never reach the people and they don't even care because it was part of their plan to maintain control of the continent.
Ye the money the ppl didnt choose to borrow ... Outs the nation into debt without benefitting anything from it
While the corruptted gov will take the money back to the western bank .. The money goes back to them with out helping anyone and putting the ppl into more debt trap
The west has more debt to Africa than china but China's loans are of use you can see their investements all over the continent
@@rediettadesse2828 "While the corruptted gov will take the money back to the western bank" I'm glad you point this out. Oxfam (NGO) did the math the last time. More money leaves the continent every year heading for western banks than the continent receive in aid. Getting that stolen money back is almost impossible. My only hope is that we Africans will wake up (hopefully soon) and realize that only we can fix our own problems.
Africans ARE people that can be manipulated. China is doing a great job of it. Gullible Africans think China is there out of kindness...
There is no real concern here. Be clear, at least China is doing business not just ripping off African countries and its unwise to still believe Africans can't think for themselves. Ask yourself the question, what does Africans gain from trading with other partners that never colonised or deported their cityzens. Also, historiens remember that at a moment in the past, China - African trade was the most important in the world.
If you have to go back 300 years to make your argument you may not have
much of an argument to make.
African nations seek and have invited investment from Europe and the
United States
@@AQuietNight that's because y'all were the only option but times have changed we can now choose between east and west
@@dailyfx1415 Several African nations like China's help because China doesn't
care if they are thug governments or are corrupt as long as the Chinese
get their money back.
After your other response I have concluded China would really like you.
I mean really, really like you.
@@AQuietNight understand that cooperation is with everyone. Dealing with France on an energy level does not stop from dealing with Corea on agriculture or China with technology. Also, China is the number one US business partner but still they may have issues together. Its an open complex market game, in which everyone's goal is to ensure food is on the table so don't be too radical.
@@AQuietNight talking of thug government, did you see what happened in Libya, Sirya, Afghanistan? These are examples in recent years. We can talk of Vietnam, Algeria, Cameroon etc.
Your comfort and reality may not help you understand diffent points of view. I invite you to do more research and you will find out that its not always what it seems.
Have a good day.
England did exactly the same after the independence of the South American countries. The local elites got rich, the countries got into a debt trap that is still a huge burden today (after 200 years) and there was a sequence of failures and defaults that also drag until today. For instance, Argentina obliterated Baring Brothers, the largest bank in the world in the second half of 19 century. The debt trap works both ways and in the long term is bad for all, specially for the poor people.
Who’s not? IMF? WORLD BANK? The French? COME ON!
Pre Colonization is now Debt Colonization.
Agree....everyones in the bucket.....especially the French and invest nothing, at least the Chinese invest...its up to the borrower to do a good deal....
It's called Debt Control. More trendy with today's population 😂😂😂😂😂😂😂😂
Exactly 👏🏿 👏🏿 👏🏿 👏🏿
Debt and financial obligation are the first links forged in the chains of slavery.
zaktly
A lot of wealthy countries have Africa in debt.
Exactly.. Some African nations have paid their debt to the imf but are still paying interest
Depends with which african country you're talking about but dyk that wealthy countries too are in debt e.g USA and China
Then stop contracting European/Asian engineers to build infrastructure on the continent cause that cost millions so the government surely doesn't have to borrow that money to pay off those foreign contractors.
Countries that still have "colonies":
Australia,Denmark,Netherlands,Spain, France, New Zealan, Norway, United Kingdom, United States.
Africa is not a monolith.
Europe, America, the IMF, and the World Bank taught China well.
They are all in cahoots. The "rivalry" between US and China is just a show for the masses.
@@Hillfiguz Exactly. They're all in this together. Financial institutions control the world.
I suggest African countries take as much CCP support as possible for the next decade. Have them build all the infrastructure Africa could want... Then stage a "coup" of the current government. And the "new" leadership tell the CCP "sorry, we don't owe you anything. New country here!"
Great idea bro 😀😀
厉害了🤣
I heard US also own China a trillion dollar debt as well!
If you really want to know the truth, just about everyone these days is stupendously in debt, hoping one of the bubbles don't pop. Like yeah, we have trillions in debt in the US, more than our GDP several times over. But also, China hopes to god their housing market bubble of debt doesn't burst internally over there like it did in the US in 2007. They have trillions altogether in debt as well, it's just to different parties, and most of us are holding debts to multiple parties.
The entire world economy for better or for worse has become a debt economy, based on debt. It's not that that bothers me about what China is doing here. But putting collateral on that debt to national resources in a very colonial way. Were they the first ones to do this? No, but they are the major one starting to in this day and age.
@Christopher Meisner "Uncle Sam will pay the bill" nice one
@@adrianbundy3249 What collateral have been put on national resources here?
@Christopher Meisner What makes you think they can’t repay?
@@b1kReviews Where is 'here' in this case? That can apply to many countries I may have directly or even indirectly spoken of in there.
The problem with the western world is no different, the fear the west has over China is because the west is losing its control on Africa. But let's look at the Data of decades of so-called investment that the west has done in Africa via different NGOs and so-called development funds. The result is not any better and even worse. Direct investment and partnership to the African private sector is the key if the west want to stay relevant and really want to have an impact on the continent. Listen more to the local private sector.
I know that countries like France have never really left Africa and have been engaging in forms of neo-colonialism. I wonder how this compares to Chinese policies in Africa and which are a net positive to Africa.
France literally controls a quarter of Africa's monetary system. Look up the CFA Franc. Yep...
@@ArawnOfAnnwn France also toppled regimes and assassinates African leaders who don't go along with the French order in Africa. Atleast China doesn't do that
france heading behind a curtain while peaking head out
The continent had a massive infrastructure deficit. China finances it. Biuld ports, rail lines, roads etc. Not all of those are profitable on their own. They leave it up to the leaders to make the positive conditions to profitability. Im Nigerian. China is biulding rail lines and ports but the government has to promote trade and trains as a viable .ode of transportation. What the west would normally do is ask for specific policies to be put in place first before they invest in that infrastructure ( if they invest, the west abandoned African countries). There's good and bad to china but if the west isn't investing then they really shouldn't have an opinion. Maybe they expected african countries to be okay with non development. + they triggered the stupid insurgency in the sahel with the crap they did in Libya
I really need a debt trap, someone trap me with low interest debt please. Instead, all I have is a student loan, and that is not a debt trap?
No one bribe you to go to college, stop playing victim
Care to share with us the T&C of Chinese debts compare to those of the IMF and what are the measures the Chinese and IMF did to countries that failed to repay?
When you can't pay back the IMF you need to sell off assets to local or international companies to pay it back but with china, you need to sell your assets to china which is not right and one of the reasons why they call it a debt trap
@@michael7394 So if you can't pay back to IMF you can sell to who bid the highest but if you borrow from China you can only sell back to China? Crap that means China can offer 10cents and they can't turn it down?
@@michael7394 let me correct you here.With China there's a clause to the agreement that should you not honour your agreement China takes over one of your asset and use it to make money till all amount owed to is recouped and the property or asset will be given back to you. China doesn't own your property or asset for good.
@@ezekielkrawere9876 But in all cases, this has happened it's always a 99-year lease which is basically owning it. So the point still remains IMF gives you the freedom to sell assets to who ever you want to pay back bills and china does not
@@wumao6797 Not exactly in every case this has actually happened china always asks for a 99-year lease on strategic assets. For example, Sri Lanka couldn't pay its debts now china has a 99 year lease on their port. China only loans to a country that they have a strategic interest in
I love how about half the visuals, both pictures and video clips are of Cape Town. I suppose Africa told you "OK but only my good side"
I mean...they learned from the best
Sad the African didn't learnt from the best when the best gave you shit "free" money
@@mariano98ify "free money" LMFAO... 20 million in Aid and how much do they steal from African countries in terms of resources 500 billion in the last 2 year according to the IMF...
@@allthingsafrica1111 the fuck are you speaking about? You better post sources and what you mean by 500 billions.
@@mariano98ify But yet CHina is a threat
Please make a video about China Iran relation.
A differentiated video. Thank you!
A hugely important topic. China is using debt to control countries all over the world, even in Europe. But one has to wonder how the old adage ‘if I owe the bank 1000 dollars that’s my problem, if I owe it a million, that the bank’s problem’ will play out on a geopolitical level. Africa is a growing continent. It would be interesting to see if, in the face of serious continent-wide debt, it decides to resist Chinese pressure and push back - especially if supported by Europe and the US. This is going to be a major situation to watch.
Countries are not held at gun point to the 💵
Debt to control other nations was planned out by Deng Xiaoping in the 1980s. The Chinese have always played the long game. And they have the population to conscript into an invasion force to collect on their debt. I do agree with you that geopolitically it remains to be seen how it will play out. And how China responds if the whole of the continent stops fighting each other and unites against the Red Panda.
@@davidford3115 Nobody is uniting against China and certainly not Africans.😂 the same Africans you just insulted under a different comment, but now you want them to rise against China. Africans are now having more favorable view towards China and Russia.
Oh look, the same James Ker-Lindsay who is trying to add flames to Nigeria’s problems.
"if I owe it a million, that the bank’s problem’ that shows that it's not in the creditors best interests for the debtor to go bankrupt. So China has a deep interest in helping these African nations to succeed.
BTW I like your channel and am subscribed.
There is no debt trap. That's just a narrative for the ignorant. The US coined the words "debt trap" when the Sri Lanka port was leased back to China. Today, the ignorant masses use that word all the time, e.g. the title of this video. Anyhow, the educated know what really happened. Sri Lanka owed money to the IMF. The US pressured the IMF to make loans due. Sri Lanka didn't have the money to pay it back, hence the leased they port back to China. They then paid the IMF back with the money from the lease. Then the US slandered China with "debt trap" and it has stuck with the ignorant masses ever since.
What's the lesson learned. Don't work with the IMF. It's controlled by the US and can be used as a weapon. Just like the SWIFT system and sanctions. Even though the US said that the SWIFT system would never be weaponized. It is now being used to control countries via sanctions.
Why don't you talk about US IMF and World Bank debt trap - structural adjustment loan conditions..You have no credible evidence of a Chinese debt trap. This is imperialist US talking points. Ask if Italy is in a debt trap with their BRI projects with China.
Short answer yes
Haha who’s not? World Bank? IMF? The French? ;)
I mean it's a loan.. Nobody gives anything for free. If you don't want to be trapped, just don't take it...
"Kenya is starting to have problems" whaattt?
This videos about China and African countries are getting ridiculous.
Countries economies are improving because of Chinese infrastructure.
GDP does not accurately reflect the health of a country. When local businesses are being bankrupted by China flooding local markets with cheap goods while the Chinese strip-mine the country is not healthy for an economy. What good is infrastructure if there are no jobs to feed your family? Infrastructure does NOT put food on the table.
Look at what Serbia or Montenegro had to do with chinese debt
Yeah, like china taking ownership of the ports and railways... such improvement
lol just look at srilanka how they are now dictated by china on there internal issue ,also the loan which china gives for infrastructure then that loan mostly go back to china economy not africa totally because most of those infrastructure projects awarded to chinese companies
@@johnsmith99997 'The How China Lends: A Rare Look into 100 Debt Contracts with Foreign Governments study found scant evidence of debt traps.' ... 'Like How China Lends, the Rhodium Group, an economic research firm, didn’t find any clear-cut asset seizures in a review of 130 bilateral debt renegotiations involving China between 2000 and 2020. The firm’s previous research found bilateral debt renegotiations with China “usually involve a more balanced outcome between lender and borrower, ranging from extensions of loan terms and repayment deadlines to explicit refinancing, or partial or even total debt forgiveness”' ... 'Few examine how projects are designed, financed, or awarded before making an allegation. This is why projects involving China in any way are often mentioned as part of debt trap speculation. The debt trap theory - one scholar called it a meme - has become a catch-all.' That meme was invented by Brahma Chelaney, an Indian who's made an entire career out of it.
But when the world bank and the IMF does it, it’s perfectly ok lol. At least China doesn’t force the recipient nations to restructure their government to cut social spending
China is also part of the Word Bank and IMF.
No, they just simply strip mine and rip the country off while leaving half-completed projects, flood the local economies with cheap goods and force local businesses belly-up with market domination. Yeah, China's tactics are much less overt than military conquest, but certainly not any better.
David Ford where the f*ck did u get that from?
@@davidford3115 African countries have experienced the largest economic growth ever due to China importing most of their goods. For the first time in history, they're improving in standard of living and political power on the world stage. Apparently that's exploitation... Real exploitation is when the Europeans and the US were in Africa, stripping its resources away by force, causing countless famines, causing civil wars, and making it the poorest continent as a result. That's what real exploitation is. Chinese "exploitation" of Africa is a load of bs.
been waiting to have your point of view on this issue
As a Nigerian, Chinese investments has really improve our economy and better our lives
Until they come to collect.
@@AJ-happydad Better than what the West has done to Africa
@@onlyfacts4999 If that was truly the case, then why are so many governments who have taken Chinese investments getting overthrown? Kenya canceled its contracts with China under pressure from the populace who were getting screwed by Chinese goods flooding their markets and bankrupting local businesses. I have to ask, are you part of the aristocracy in Nigeria who personally benefits from China?
@@davidford3115 >>> You know all the dictatorships present on the continent were either installed or are currently supported by Western governments right?
And it's not rocket science that Nigeria has benefitted from Trade and investments with China. Affordability of Chinese goods has helped many countries around the world. Contrast this with Western countries always suggesting rather daft solutions to our problems.
There's famine. 'Help us with infrastructure development at a good rate so we can move goods more cheaply to remote regions"
Western Country: "How about we created a charity Aid concert instead and use most of the proceeds as cost of operations - it's a non-profit afterall"
And your correlation of trade and overthrown governments makes no sense. You should take a class on logical reasoning.
@@itumo2645 Not entirely true. Many came into power with the help of the Soviets. Most of the ones since 2000 came into power because of the Chinese. Indeed, ALL of your anti-colonial despots came to power via communist revolutions because that anti-colonialism mantra was simply a vessel for anti-West resentment.
Well China Was Like I Wasn't Here For Colonization
Is Only Fair If I Do The Modern Version🌚
IMF does the new and old version what's the difference. One comes with infrastructure and access to the worlds manufacturing hub for loans and development.
Keep dreaming.
What has Europe done for Africa for the ast 600 years
Instead of going into Africa with a colonialism/neo-colonialist-imperialism attitude
destroying the countries and killing lots of people like the west has done in the last hundred years...
China went to Addis abab (African Union) and said to the government they would like to help with the infrastructure problem, build airports, upgrade railway system and create telephone system and rebuild the roads. Do this all for free no strings attached.
There are no free lunches.
@@ankur.mahajan Yet African own loans to the IMF and World bank.
@@ankur.mahajan You know what with China at least Africa wins!! We understand that there are no free lunches but working with china has improved African countries' economies... Don't talk about what you really don't know shit about just go about your day...We have dealt with the western world since slavery and have gotten nowhere...
@@ankur.mahajan You are probably gonna saying something about corruption in leadership but again i can prove you dead wrong
Bro we love them they don't involve in conspiracy and coup......Which other countries did specially .....
The question is what has the colonizers done for Africa for the last 500 years 🤔
That’s last part you mentioned at the ending of your video was the key 🔑 to wake up the western world
How many of you would lend your own money to African countries at low interest rate? Or expect your government to? Exactly, China is doing what most countries and lenders refuse to do
Who doesn't owe money to China in this 21 century, or let us just shut up and talk about Africa
It is kind of hard to feel much indignation about people who attempt to control others by paying them lots of money.
@James-of-Solaris Dictators some of them may well be. I fail to see how or why China would be expected to refuse business with them as a matter of general principle.
@@Bolsonaro_em_Haia They don't. Unlike the West, they are more than happy to do business with strongmen.
Do also video in depth on how IMF, world bank and some western countries are using Debt & AID to control africa for almost 70 years. That would be also very interesting.
You guys used to be one of the first to highlight issues but lately it seems to always be old news?
Maybe I'm just watching to much TH-cam ;D
You need to go to places like Katanga to understand that the debt trap equals Neo-colonialism.
And yes, some of you will go "well what about IMF, and France, and Turkey, and the UK" but you miss the point- these are not large scale national debts issued by governments like the ones issued by the Chinese Communist Party, and nearly all are debts with high-probability of returned investments.
China is investing with the intent that if a project fails it could gain control over it or on other assets of the indebted country and you won't see the IMF doing it, in fact, the IMF will demand a feasibility plan for any such project.
Also, you can see what happens when you fail to hold payments- Sri-lanka lost its ports, Cambodia & Laos became vassal states, and many other OBOR countries are giving away mineral rights to the Chinese to pay up and are forced to accept the Yuan as a currency, binding them to Chinese products.
I was an optimist at first because I was sure China will be the next best hope for making Africa the locomotive needed for world growth, but when my father went to Katanga several years ago I was crushed to see the videos and pictures of the reality- Chinese firms would send their men to build these projects, they would not use the local workforce so you a brand new highway that no local can afford to use it because there are no paying jobs.
The locals would go mine for minerals in illegal mines all across the countryside and take it next to the border where they would sell it raw for scraps to Chinese dealers from these firms, they wouldn't pay a cent in royalties because they would smuggle it downriver to Tanzania or Mozambique. The local governments were incompetent on purpose and these firms would fleece at will, this was a wake-up call.
If you can criticize the former colonization of Africa by European powers you sure need to criticize this Neo-colonialism.
Yup, you hit on the big issue, namely dominance via trade. Forcing locals to drop ALL trade restrictions and tariffs so that they can flood the market and bankrupt local business does far more harm to a nation than those in power dare admit.
'The How China Lends: A Rare Look into 100 Debt Contracts with Foreign Governments study found scant evidence of debt traps.' ... 'Like How China Lends, the Rhodium Group, an economic research firm, didn’t find any clear-cut asset seizures in a review of 130 bilateral debt renegotiations involving China between 2000 and 2020. The firm’s previous research found bilateral debt renegotiations with China “usually involve a more balanced outcome between lender and borrower, ranging from extensions of loan terms and repayment deadlines to explicit refinancing, or partial or even total debt forgiveness”' ... 'Few examine how projects are designed, financed, or awarded before making an allegation. This is why projects involving China in any way are often mentioned as part of debt trap speculation. The debt trap theory - one scholar called it a meme - has become a catch-all.' That meme was invented by Brahma Chelaney, an Indian who's made an entire career out of it.
Regarding Sri Lanka - "Steep payments on international sovereign bonds, which comprised nearly 40% of the country’s external debt, put Sirisena’s Government in dire fiscal straits almost immediately. When Sirisena took office, Sri Lanka owed more to Japan, the World Bank, and the Asian Development Bank than to China. Of the $ 4.5 billion in debt service Sri Lanka would pay in 2017, only 5% was because of Hambantota. The Central Bank governors under both Rajapaksa and Sirisena do not agree on much, but they both told us that Hambantota, and Chinese finance in general, was not the source of the country’s financial distress."
"All these loans were obtained from China EXIM Bank, most at commercial rates. However, each loan had a grace period of around five years and a payback period of 15-plus years. For this very reason, the loan repayments for Hambantota do not amount to a large portion of Sri Lanka’s external debt servicing payments; some loan repayments have not even started yet. Debt repayments for the loans obtained for Hambantota port amount to only around 5 percent of Sri Lanka’s total annual foreign debt payments, and even less among total debt repayments."
"By the end of 2017, only little over 10 percent of Sri Lanka’s foreign debt was owed to China and most of that was in the form of concessionary loans. Instead, the largest portion of Sri Lanka’s foreign debt was international sovereign bonds, which amounted to 39 percent of the total foreign debt as of 2017. These are commercial borrowings obtained from international capital markets since 2007, and such bonds have resulted in soaring external debt servicing due to the nature of the debt. Unlike in concessionary loans obtained to carry out a specific development project, these commercial borrowings do not have a long payback period or the option of payment in small installments."
Lending for a project you hope will fail doesn't make any sense. If you seize control of it once the debtor has defaulted you just have control of a failed project.
@@jakedee4117 take over a port city as repayment for a loan is like buying a piece of territory for cheap. It like if I loan you 100000 dollars to fix a 500000 dollar house, but of you can repay the loan I get to take your home. If I know you can't repay but still lend you the money because I wanted your home...
Since simon left, this channel has basically just become a propaganda mouth piece
Read the book "Confessions of an Economic Hit Man" by John Perkins if you really want to know about Debt-Traps
Clearly the CCP had read & learned from it , & imposed extortionate terms on Africa 100 fold of what Perkins described about the US
Great book. Explains how a lot of these debt traps were created and how they are implemented in 3rd world countries. The problem always leads back to bankers in places like the US, UK, Germany, France and Holland. China is just the next group to pickup this playbook. Africa unfortunately will remain a disaster due political corruption and a less than capable populous. At the end of the day what I really feel sorry for is the wildlife. Most of it will go thr way of the dodo over the next 50 years.
Infrastructure projects neednt be profitable if the total benefits outweigh the costs. High speed railway in China isn't making a profit. In fact it is still losing money.
So based on a naive IRR analysis, projects like high speed railway shouldn't be built in the 1st place, which conveniently ignores the positive externalities associated with the highspeed railways, like connecting all the major cities and raising home and land prices that support the government tax revenue, the huge number of jobs they provide and the huge rise in domestic tourism.
Incorrect. High speed rail is very profitable in China due to high popularity density
@@janusjones6519 Recent financial performance of China high speed railway: losing 44million usd a day: th-cam.com/video/4wsMjxESAY0/w-d-xo.html
Of course how much debt is needed to finance the high speed railway and the degree of profitability are major concerns for some poorer provinces where most locals still find the tickets expensive.
propaganda.
I think this is one of the most objective videos on China you guys have done in a while. good job
It's always funny when a white guy accuses China of colonialism.
Funnier when you imply colonization was/is a purely white phenomenon lol cry harder pal
It is funny how you think white as the only colonizers. Japan was a colonizing power in the 1920 and 30s. China was a colonizer in antiquity. Ever heard of Zheng He's treasure Fleet? They demanded tribute from East African kingdoms before the Age of Exploration.
@@davidford3115 What you don't know is
These tribute countries can get more valuable rewards
Until Ming Dynasty was destroyed ...The reasons include the excessive enthusiasm of these countries to pay tribute to China in the Ming Dynasty : )
@@mypartyisprivate8693 It's not implication it's truth. Colonization is only done by whites, maybe add Japan to the list too.
@@andysol.4593 MAYBE add Japan?
And Ottoman Turkey also had colonies.
I am an African and I totally agree with you on the part that African leaders bear the responsibility for signing any shrewd loans.
Your leaders won't care regardless, they are much willing to sell their own mothers and daughters for a worthless pennies. this is life
At least they're not forcing west Africans to use the Franc as their reserve currency
Thanks for the video. This topic needs more attention
China just assumed control over Uganda's only international airport because they couldn't pay back the loan used to develop it.
Fake news
*There seems no signs of intelligent life here.*
Nice, thank you!
'The How China Lends: A Rare Look into 100 Debt Contracts with Foreign Governments study found scant evidence of debt traps.' ... 'Like How China Lends, the Rhodium Group, an economic research firm, didn’t find any clear-cut asset seizures in a review of 130 bilateral debt renegotiations involving China between 2000 and 2020. The firm’s previous research found bilateral debt renegotiations with China “usually involve a more balanced outcome between lender and borrower, ranging from extensions of loan terms and repayment deadlines to explicit refinancing, or partial or even total debt forgiveness”' ... 'Few examine how projects are designed, financed, or awarded before making an allegation. This is why projects involving China in any way are often mentioned as part of debt trap speculation. The debt trap theory - one scholar called it a meme - has become a catch-all.' That meme was invented by Brahma Chelaney, an Indian who's made an entire career out of it.
Also people should watch Gyude Moore China in Africa An African Perspective to get some perspective on Chinese participation in Africa - from an actual African decision maker rather than a western commentator. Chinese loans are better described as commercial loans, which is why African countries take them. Which is to say, they're more similar to standard business loans than the kinds of highly conditional and interventionist loans western govts or the IMF (look up the 'Structural Adjustment Programs' about that) insist on. In other words, China ironically respects African govt. sovereignty better than the highly paternalistic West does i.e. they don't dictate national economic policy to recipient nations (for a metaphor closer to home, think of the austerity packages that the EU insisted Greece and other distressed economies implement following the 2008 economic crisis fallout - China mostly doesn't do that).
Very insightful video with Gyude Moore at the Paulson Institute
th-cam.com/video/P5uzxV8ub9k/w-d-xo.html
*Nor should we ignore the CCP financing of Boko Haram*
Lmao Where did you get that from? Many Nigerians or west Africans in general don’t believe BOKO haram is funded by China. They believe it started because of Libyan civil war and funded by Saudi Arabia and Weapon manufacturers in Europe and USA. Africa doesn’t have a strong and stable weapon manufacturing system but happens to have the most weapon usage in the world for the past decades. You better bet someone is cashing in on those gun sales outside of Africa but it definitely not China. USA, France and Russia sell more weapons to African governments compared to China and Chinese are not necessarily pro Islam to be supporting BOKO Haram.
China forgives loans to Africa. By the first quarter of 2009, China had canceled 150 such loans owed by 32 African countries. In 2018, Chinese President Xi Jinping announced forgiveness of all intergovernmental zero-interest loans for least-developed African countries with diplomatic relations with China. Incomplete reporting is suspicious.
How bout u do a video talking about USD dominance trap in the world.
How many *CHINA* videos will VisualPolitik do by February 2022? Comment to guess.
😂😂😂😂😂😂😂😂😂😂😂😂
They're a rogue state so it's easy content
As long that benefits them monetary, and China videos are good money 💰 a good 😊 for
Expect a Beijing winter olympic bashing soon
I think one component you didn't mention with the infrastructure projects in Africa is that the Chinese bring in a lot of their own labour too. Once governments obtain an infrastructure loan, they have to hire Chinese developers, those Chinese developers then bring in their own labour. Africans are hired (on a small scale) to do hard labour jobs. So the loan Africa takes out goes back to China and on top of that the African governments still have to pay back the loan to the Chinese bank that gave them that money. Thus, the debt trap. Before you go calling me a "running dog of the west", I'm African. And see it in my own City.
Good Video, I'm kinda motivated by it, but I feel you should make more video pertains how to make wealth..
South America needs investment too. The US' unfortunate neighbours.
South america poverty thanks to CIA regime change every 12 hours.
🤔Been watching this since Simon and NEVER had a comment taken down!👍🏾
👎🏿Now, these guys censor comments like crazy! 👎🏿
I don’t think they do. It’s probably the TH-cam algorithm. I had comments deleted on many other Chanel’s too lately
You could just tell what was your comment about or *exactly* what did you post, instead of just complain.
I mean... they censored one comment but not this one?
@@LuisRomeroLopez it's been quite a few after Simon left!👈🏿
@@philandeswilliams1975 Simon was just the host and now he still is on another channel for the same people who run this channel (who are from Spain).
So: The channel has not changed administration and they continue to work with Simon.
But again: Exactly what did you post?
@@LuisRomeroLopez If he repeats it, they remove the comment again. Don't be naiive.
Debt trap, atleast Africa had a say on this trap. Better than donation trap.
China debt trap?
Imf: hold my beer
Not a peep about IMF and World Bank debt traps.
Hard to control people when you haven't set foot on the land. On paper maybe but in reality all Africans would just stop listening to the Chinese whenever things get unfair. Also it's so ill informed to throw a blanket statement when you could a video on each country
No, Africans are dependent on Western and now Eastern Nations. They'll never say no to any of their proposals no matter how unfair.
@@s.n.9485 just like nations will never say no to African resources. Isn't capitol a resource? That's why this should be looked at on a micro level. Because the countries that contribute most to these stats are already corrupt. It's just corruption working with foreign corruption.
The people can say no, but it wouldn’t matter. Unfortunately, heads of state sign the contract m, and most of our leaders are corrupted.
What is Americans debt to gdp ratio😂😂 don’t believe these western media’s. The reason why Dubai New Zealand Australia is what it is today is because of American investment . Africa needs investment and their not gonna get it from America . China is offering what Africa needs and Africa is offering what China needs. The African leaders just need to make sure they’re debt to gdp ratio is maintained
This is sinophobia and stealth racism.
hahahahahahahahahahahahahah
Then where is the hate for Taiwan? Spare us your cries of racism, you are the boy who cried "WOLF!"
@@davidford3115 That's cause Taiwan is a puppet regime used by the Americans to threaten and divide China.
Relevant and insightful video!
not insightful.
@@r3dpowel796 wy?
I should think if Western powers really want to improve African prosperity, and by extension relations, they should help build up their economies to be _inclusive_ , not simply _extractive_ ; basing prosperity of resource exploitation is only as good for people as the equity of the socioeconomic system, otherwise, the wealth will flow to fewer and fewer individuals, who may well come to own more and more of the capital, until government gets captured by the money and goes right back to being autocratic and not democratic.
So you are describing “FOREIGN AIDS” in which Africa got plenty of.
How many billions an trillion in foreign aids has Africa received ?
A loan has to be paid. If you paid using natural resources. It still get paid .
It is not EXTRACTIVE .
It is paying with what you have.
You cannot be a BEGGAR forever
@@sofjanmustopoh7232 As CGP Grey said 'if the wealth of a nation is dug out the ground, it's a terrible place to live, because a... mine can be run with dying slaves and still produce great treasure'.
There's further elaboration to be had but that's the gist of it.
It’s interesting that you get the idea of inclusive and extractive systems. That aside, China’s relation with Africa grew so fast because it doesn’t have an entrenched extractive in time or structure. So, their is more trust and things runs way smoothly. The West started with extractive institutions from the get go. So you can see how the momentums defer.
It is similar to why relations between US and South Korea, Germany and Taiwan took off, there were no post-industrial Extractive institutions or tendencies in place prior.
@@sofjanmustopoh7232 It’s the West’s idea on Foreign Aid. And why do you think the Foreign ‘Aid’ doesn’t work?
@@b1kReviews would giving you fish to eat feed you longer
Or
Teaching you how to fish ?
Jaybee, Jamie and jaydon.
What do you think the IMF does?
@Christopher Meisner Well sorry to tell you that there are more countries outside of Africa in this BRI deal than in Africa. Bri deal is mostly in east Africa countries like Kenya and Djibouti not the whole of the continent.
Thank you for showing Kenya
Since we're talking about control.
How a single country in Africa (Nigeria) is made up of 200 substantially different ethnic tribes with different political interest but amalgamated by Europeans for economic interest. Now the world after 61 years is wondering why there is always instability in the region.
How US govt imposes sanctions and cuts USAID to Uganda because of its legislation on gays. (Uganda's sovereignty is treated like shit)
How Ethiopia shuns China-backed consortium(Huawei) in favour of US because of USAID to build its telecom infrastructure.
How IMF tells Nigeria to devalue it's currency instead of strengthen it's internal processing capabilities
How after Nigeria becomes top crypto trading hub IMF releases statement on conditions for loan credit facilities to poor countries suffering the pandemic.The next day, the CBN bans Nigerian banks from dealing directly with cryptocurrencies. Yep, they got the ~3 billion loan real quick too.
The UK govt prior to the Pandora leaks knew that African leaders hedge their corrupt wealth in UK properties but turned a blind eye. ( Yea! their former MP once called Nigeria "Fantastically corrupt" )
China Debt control - Yea! since 2013, they've been doing this shit to poor countries. The weirdest thing is that the loan conditions are never made public. Yea! perfect recipe for disaster
Everybody's having a go at shaping Africa. US and Europe have been in the front seat 4 so long.
Africa needs infrastructure, China is helping. That is not a debt trap, let's talk about the IMF and France, Canada, US which are a few countries that are still robbing their 'former African colonies.
Make a video on "How useless the West is".
Interesting video once again
Congratulations 🎉🎊 to China 🇨🇳🇭🇹🇨🇳🇭🇹 best superpower country in the world 🌎.. wish my country Haiti could join the team
Am Kenyan and my opinion on China-Africa relationship is: "we don`t like them, we need them" and I believe the feeling is mutual; Chinese despise Africans but have a very high affinity for our resources (like the rest of the world), and to be honest, we loth them even better. But they`re doing something here that the Europeans and their American allies had a chance to do but failed. You see, we know where we are going, and we know the part we want to play in the world, but we have to use our resources to get there, so for now, we`ll let the world use our resources.
The West "loved" Africans(the people and the resources) and it was mutual, but that is where the interest ended. They liked to see the poor, dusty and zoo-like Africa where they`d come ant take primitive pictures of animal-people in jungles. But times change and the sleeping lions woke. People here started seeing the west for what they really were, people started dreaming, hoping - again.
Corruption may slow us down but we will get there, and when we do, someone will pay for what they stole from us; starting with slavery, to colonialism and then we will consider China and those who will take advantage of us after them.
But I can assure you, the African story will not end with the continent painted red. We will rise, again. Like in the ancient times.
In ancient times? You mean before humans could walk straight?
Wakenya mko wapi 😂😂
Tuko bro...
The China model is to provide infrastructure at a cost - the western model is more often to give loans which are often squandered by corrupt governments and leaders which need to be paid back but provide little to no benefit to the country or the people - that is another big reason why many nations in Africa have remained in poverty - some leaders are owners of penthouse apartments or homes in France or Britain as well - that should tell you something.
Atleast chinas loans not only money .. But includes the project study .. Needed materials .. And workers and builds whats needed fr ground
Lmaooo so what!!!! It’s business
They playin the wrong card here and also the purchase of dollar currency just shows how they don't care about the future consequences
Ever since Simon left this channel became a propaganda channel. You guys love spreading misinformation.
Short answer : yes