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China ‘world’s biggest debt collector’ as poorer nations struggle with its loans (www.theguardian.com)

submitted 10 months ago by throws_lemy@lemmy.nz to c/news@beehaw.org

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[–] bedrooms@kbin.social 8 points 10 months ago (1 children)

Never make a loan with the Chinese government. They intentionally bankrupt you to "borrow" your asset (in many cases, important sea ports) for 99 years. They update that contract every year to lend it fir the next 99 years. You effectively gave away your asset to China forever.

That's also what the occupiers of China did to China itself before the end of WW2 – seize Chinese ports indefinitely.

[–] zerfuffle@lemmy.ml 2 points 10 months ago* (last edited 10 months ago)

It's a fundamentally different problem here: it's new infrastructure, which in this day and age is barely profitable in terms of first-order effects (fees, fares, etc.) but is significantly profitable in terms of second- and third-order effects (economic growth, new businesses, yada yada).

If you could build a new subway in New York, spend zero capital, but have to give up the fare revenue for that subway, why wouldn't you?

Also, the India/US alternative is to... Just outright give the Indian Adani group a majority stake in their port expansion. So much better. So much. Truly.