News Forum - Is the dream over? China walks back Belt & Road ambitions

[Thaiger]

China has splashed more than a trillion dollars on a wild campaign to expand its influence across the developing world through its Belt and Road program. As Beijing begins to count the cost of the troubled initiative, more and more countries are struggling to repay their debts to China. Tens of billions of dollars of loans have been misused and countless projects are stalled, if they ever got started. According to some economists, China’s “debt-trap diplomacy” has fuelled crises in places like Sri Lanka and Zambia. After nearly a decade of giving generous loans to eager foreigners, the mainland will […]

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[Dmitrii]

So, they have handed out hundreds of billion dollars to corrupted officials of these countries (which are poor exactly because of corruption). Why? Were they so naive? I do not think so. I bet people who signed off those loans had their share, i.e. were corrupted themselves.

[TSS]

that high speed rail link into Thailand? The submarines without power plants?

[MrStretch]

China will "foreclose" on the outstanding debt by taking control of natural resources and possible infrastructure.

The plan was only for that, and of course here in SE Asia, as a quick method to deploy troops in an invasion.

[Rookiescot]

China actually wants these countries to default because then Chinese carpet baggers can come in and seize everything in the country they want. Natural resources, infrastructure and even territory. 

Corrupt officials and politicians have lined their pockets but these countries have essentially sold their souls for nothing. Projects like roads and railways its always Chinese companies using Chinese labor building this stuff with little or no benefit to the locals. And the projects themselves are not even needed. 

[palooka]

16 hours ago, Dmitrii said:

So, they have handed out hundreds of billion dollars to corrupted officials of these countries (which are poor exactly because of corruption). Why? Were they so naive? I do not think so. I bet people who signed off those loans had their share, i.e. were corrupted themselves.

The Chinese knew who and what was happening, it was always part of the entrapment, (ie a scam) to gain financial influence not only of the current controlling regime/govt but with future rulers that inherited the debt.  China will financially own most who dallied with them for years.

[oldschooler]

1 hour ago, palooka said:

The Chinese knew who and what was happening, it was always part of the entrapment, (ie a scam) to gain financial influence not only of the current controlling regime/govt but with future rulers that inherited the debt.  China will financially own most who dallied with them for years.

CCP gain Infrastructure Assets. Influence always had …..