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(Thread IKs: fart simpson)
 
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Kill All Cops
Apr 11, 2007


Pacheco de Chocobo



Hell Gem
Historically, it's China's turn to debt trap the pacific ocean island states

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gradenko_2000
Oct 5, 2010

HELL SERPENT
Lipstick Apathy

Kill All Cops posted:

Historically, it's China's turn to debt trap the pacific ocean island states

New York Times: Is China the World’s Loan Shark?

quote:

Some say Beijing lends money for infrastructure and development to pressure poor countries with debt. Not so.

By Deborah Brautigam

Ms. Brautigam is an expert on China-Africa relations at Johns Hopkins University.

April 26, 2019

But a number of us academics who have studied China’s practices in detail have found scant evidence of a pattern indicating that Chinese banks, acting at the government’s behest, are deliberately over-lending or funding loss-making projects to secure strategic advantages for China.

China does not publish details about its overseas lending, but the China-Africa Research Initiative at Johns Hopkins University (which I direct) has collected information on more than 1,000 Chinese loans in Africa between 2000 and 2017, totaling more than $143 billion. Boston University’s Global Development Policy Center has identified and tracked more than $140 billion in Chinese loans to Latin America and the Caribbean since 2005.

Based on the findings of both institutes, it seems that the risks of B.R.I. are often overstated or mischaracterized.

Take Africa. The International Monetary Fund estimates that as of late January some 17 low-income African countries already were in, or were at risk of, “debt distress,” or of experiencing difficulties in servicing their public debt. We at the China Africa Research Initiative created debt profiles for those countries based on our data on Chinese loans as well as statistics from the World Bank and the I.M.F. — and we discovered that a crowd of global banks and bondholders were involved: notably, in Mozambique, Credit Suisse; or in Chad, the Anglo-Swiss mining giant Glencore. In some of the 17 countries the I.M.F. identified as vulnerable, including Cameroon and Ethiopia, China was the single-largest creditor, but non-Chinese lenders still held the majority of the debt.

In most of Africa and Latin America, in other words, China’s lending is significant, but fears that the Chinese government is deliberately preying on countries in need are unfounded.

When the sale of the [Hambantota] port was negotiated in 2016, Sri Lanka had an external debt of $46.5 billion; according to the I.M.F., only 10 percent of it was owed to China. As the economists Dushni Weerakoon and Sisira Jayasuriya have argued, “Sri Lanka’s debt problem isn’t made in China.”

But the idea that the Chinese government is doling out debt strategically, for its benefit, isn’t supported by the facts. Many of the would-be borrowers gathering in Beijing this weekend are likely to carefully scrutinize the costs and benefits of Chinese loans; some may be poor, but that doesn’t make them unaware or unsavvy. China’s B.R.I. isn’t debt-trap diplomacy: It’s just globalization with Chinese characteristics.

Kill All Cops
Apr 11, 2007


Pacheco de Chocobo



Hell Gem

I was referring to this one

quote:

The days unfold at a leisurely pace in Tonga, a South Pacific archipelago with no traffic lights or fast-food chains, and where snuffling pigs roam dusty roads.

Yet even in this far-flung island kingdom, there are signs a battle for power and influence is heating up among much larger nations – and Tonga may end up paying the price.

..

The country of 106,000 people owes about US$108 million to China’s Export-Import Bank, equivalent to about 25 per cent of its gross domestic product.

..

China’s ambassador to Tonga, Wang Baodong, said China had only benevolent intentions in Tonga and no hidden agenda. “Some people in the West are being oversensitive and too suspicious,” he said. “No need.”

It is not just money that is flowing in from China. Chinese immigrants began arriving in the 1990s when Tonga started selling passports.

The idea was to attract wealthy Hong Kong residents hedging their bets ahead of the former British colony’s return to China in 1997. Instead, they were snapped up by rural Chinese looking for a better life.

In a country with few jobs, Tongans worry that Chinese immigrants are now running most of the corner groceries and are expanding their business interests into farming and construction.

Wang acknowledges the criticism that Chinese immigrants run many businesses but said Tonga’s leaders recognise the contribution they make and have even called on Tongans to learn from their hard-work ethic.

..

The real threat to Tonga’s future may lie in its crippling loans from China. Repayments were due to start last year, and panic crept in.

In August, Prime Minister Akilisi Pohiva called on other Pacific nations to join forces to demand debt relief, warning that China could snatch away buildings and other assets. But he reversed his position days later, saying Tonga was “exceedingly grateful” for China’s help.

Within months Tonga announced it had been given a reprieve and did not need to start repayments for another five years.

Tonga also said it was joining China’s Belt and Road Initiative, the multibillion-dollar trade and infrastructure development programme that is a signature policy of President Xi Jinping.

Tongan officials do not seem eager to discuss the relationship with China, saying all questions about China’s loans and aid should be directed to Chinese officials.

..

For Ola Koloi, who runs a tourist lodge, China’s footprint is too pervasive, influencing what she can buy as so many goods for sale come from China.

She said the loans to China should worry every Tongan.

“I feel like I’ll be Chinese soon,” she said.

Pener Kropoopkin
Jan 30, 2013

by Jeffrey of YOSPOS

(and can't post for 30 days!)

CHINESE RUN BUSINESSES!!! :kingsley:

Prince Myshkin
Jun 17, 2018
Interesting choice not to highlight the part where the grace period was extended by five years.

Frijolero
Jan 24, 2009

by Nyc_Tattoo
Sure chattel slavery was bad, but have you heard of DEBT?

Ferrinus
Jun 19, 2003

i'm finding this quite easy, i guess in part because i'm a fast type but also because i have a coherent mental model of the world
i once read a chinese light novel in which the protagonist was described as having dark skin, as he was a failed scholar from a poor family. but, as he empowered himself through daoist cultivation, his complexion lightened until he looked like this



which is to say that no place is free of dumb stereotypes and superstitions, but "race" is a term of art in a specific ideology, known as racism, which posits an indelible genetic hierarchy which constitutes the decisive factor in history itself. it's not just thinking you have the best culture or that everyone in your neighboring country is a stupid barbarian. you can't concentrate your chi until you stop being black or indigenous in america's own mythology. multinational socialist states have historically set up autonomous regions, preserved native languages, and mandated participation on boards and committees proportionate to population demographics because unlike western empires they aren't founded on racism, although there's always a danger in sliding into ____ chauvinism where ____ is the most populous nationality or ethnicity (for instance, russian chauvinism towards the end of the soviet union's life (RIP))

Kill All Cops
Apr 11, 2007


Pacheco de Chocobo



Hell Gem

Prince Myshkin posted:

Interesting choice not to highlight the part where the grace period was extended by five years.

wow five years! our tiny island nation will expunge that debt in no time!

Darkest Auer
Dec 30, 2006

They're silly

Ramrod XTreme

Kill All Cops posted:

wow five years! our tiny island nation will expunge that debt in no time!

Especially since that extension happened only because they took on more debt

Atrocious Joe
Sep 2, 2011

Atopian posted:

Sure it is. As noted before, China seems to be an improvement over the US from Africa's perspective. That doesn't mean that what China is doing is good.
"Better than US foreign policy" is a low bar.

Being better than the US is a low bar. However, from the fall of the USSR to the rise of China as an independent global economic power, US and Western partnership was the only option. Neoliberal economic reforms forced on global south countries wiped out social programs and shifted unthinkable amounts of wealth to the global north.

That China is providing an alternative to that is good. It could be better, but it's not bad.

stephenthinkpad
Jan 2, 2020
Whatever country that's actually helping Africa countries to build their own industries,not just pipeline/road to carry the resources out, is good to Africa for real.

I seem to remember China was helping South Sudan building their own oil refinery, but a quick search couldn't find anything. So maybe I remember it wrong, maybe it's Ethiopia or something,

Typo
Aug 19, 2009

Chernigov Military Aviation Lyceum
The Fighting Slowpokes

shrike82 posted:

lol we don’t have to go that far from China to see Han racial supremacy causing trouble ie Xinjiang

This thread has already thoroughly debunked western China concentration camps as racist I'm not sure why you keep bringing this up

Prince Myshkin
Jun 17, 2018

Darkest Auer posted:

Especially since that extension happened only because they took on more debt

The article doesn't indicate the country has taken on new debt, just that it's joined the Belt and Road. The Chinese official dismisses the idea the two are linked, but even if they are there's nothing about an increased burden. Try reading stuff that's posted here.

Frijolero
Jan 24, 2009

by Nyc_Tattoo
Imagine being such a pent-up loving loser that you go scrounging for evidence of Chinese badness and all you can come up with is the government of Tonga agreeing on a loan from China after also considering Australia.

CAPS LOCK BROKEN
Feb 1, 2006

by Fluffdaddy

Frijolero posted:

Imagine being such a pent-up loving loser that you go scrounging for evidence of Chinese badness and all you can come up with is the government of Tonga agreeing on a loan from China after also considering Australia.

that’s Hong Kong localism in a nutshell: making poo poo up and distorting facts to suit their agenda

Kill All Cops
Apr 11, 2007


Pacheco de Chocobo



Hell Gem

CAPS LOCK BROKEN posted:

that’s Hong Kong localism in a nutshell: making poo poo up and distorting facts to suit their agenda

i dont know who you are trying to punch but thats a mirror

Typo
Aug 19, 2009

Chernigov Military Aviation Lyceum
The Fighting Slowpokes

Kill All Cops posted:

Historically, it's China's turn to debt trap the pacific ocean island states

The very idea of "debt trap" is pretty racist tbh

Reznor
Jan 15, 2006

Hot dinosnail action.

SKULL.GIF posted:

do not uncritically accept propaganda from the imperialist state that obsessively surveils its own citizens


no not like that

Good take.

Prince Myshkin
Jun 17, 2018
https://twitter.com/SCMPNews/status/1215672900855980039?s=20

Grapplejack
Nov 27, 2007

That's a good first step but pinkwashing is a very real thing and needs to be kept in mind when celebrating advertising victories that aren't being equally matched with social changes. We see it a lot in the US, so it's something worth keeping an eye on. Still, for a country that doesn't really have LGBT media visible this is a big deal.

Pener Kropoopkin
Jan 30, 2013

by Jeffrey of YOSPOS

(and can't post for 30 days!)

remember when everyone said that Disney had a token gay kiss in Rise of Skywalker so it could be easily censored for China only for it to be censored in Singapore?

Prince Myshkin
Jun 17, 2018

Grapplejack posted:

That's a good first step but pinkwashing is a very real thing and needs to be kept in mind when celebrating advertising victories that aren't being equally matched with social changes. We see it a lot in the US, so it's something worth keeping an eye on. Still, for a country that doesn't really have LGBT media visible this is a big deal.

https://twitter.com/PDChina/status/1208111576898818058?s=20

Dante80
Mar 23, 2015

This one was also big.

https://twitter.com/seiqndsei/status/1161473978248105987

Reznor
Jan 15, 2006

Hot dinosnail action.
I gotta say, I came to this thread because I was afraid I had rose colored glasses about China. I came here to find sources of critisism I could trust.

This thread has made me even more pro china.

Dante80
Mar 23, 2015

Now, go over to the GBS thread.

or
VVVVV

Dante80 has issued a correction as of 03:03 on Jan 11, 2020

LimburgLimbo
Feb 10, 2008

Dante80 posted:

Now, go over to China.

Frijolero
Jan 24, 2009

by Nyc_Tattoo
China is cool sure, but have you considered that it's also good?

Worthy of debate and discussion imo

CAPS LOCK BROKEN
Feb 1, 2006

by Fluffdaddy

Frijolero posted:

China is cool sure, but have you considered that it's also good?

Worthy of debate and discussion imo

Yeah I don't get the weird white guy assumption that people will hate it when they show up.

shrike82
Jun 11, 2005

lol would have figured pevan would be anti white guys moving to China given all the tropes about them going after local women

Atopian
Sep 23, 2014

I need a security perimeter with Venetian blinds.
China is a genuinely cool place to visit, and I find it a good place to live, but I see why many people wouldn't. Although after you visit you'll see why it's difficult to take aspects of both this thread and the GBS thread seriously.

My main problems with China are that it's too authoritarian and too capitalist, but obviously that's a taste thing.

Typo
Aug 19, 2009

Chernigov Military Aviation Lyceum
The Fighting Slowpokes
I'm really glad good and cool leftists who understands China's historic socialist mission in Africa can hang out here while the rest of Cspam had being nazified by mods like PPJ

This is truely like a red army camp during the long march

Darkest Auer
Dec 30, 2006

They're silly

Ramrod XTreme

Atopian posted:

My main problems with China are that it's too authoritarian and too capitalist, but obviously that's a taste thing.

But the US is more capitalist!

Mantis42
Jul 26, 2010

The GBS thread is insanely reactionary. They think the socdems of D&D are hardcore tankies.

Grapplejack
Nov 27, 2007


Pevin mentioned this last time so we're just waiting for it to actually show up in discussions when the NPC meets in March or if they pull a US Dem and say that it didn't meet criteria to be considered important enough to rule on.

Reznor posted:

I gotta say, I came to this thread because I was afraid I had rose colored glasses about China. I came here to find sources of critisism I could trust.

This thread has made me even more pro china.

There aren't very many people in here that are anti-china tbh. A lot of the dissent ITT comes from them being either too authoritarian or too capitalist, and complaints from that end can come from all over the political spectrum. I assume most of the pro-china people here are Stalinists like R Guy was so they don't have an issue with either of those.

BrutalistMcDonalds
Oct 4, 2012


Lipstick Apathy

Mantis42 posted:

The GBS thread is insanely reactionary. They think the socdems of D&D are hardcore tankies.
GBS is behind the curve... takes them awhile to catch up

GoutPatrol
Oct 17, 2009

*Stupid Babby*

Mantis42 posted:

The GBS thread is insanely reactionary. They think the socdems of D&D are hardcore tankies.

95% of the China tm posters post in all four threads, each having their own personality. This is a delicate balance, one thread getting too powerful brings distress to the system.

Mantis42
Jul 26, 2010

Four Threads, One China

Prince Myshkin
Jun 17, 2018
Guy in the PYF Tankie thread is sincerely citing Frank Dikotter. On a completely unrelated note I'm figuring out which building in my neighborhood is the tallest and leaves its roof access unlocked.

taqueso
Mar 8, 2004


:911:
:wookie: :thermidor: :wookie:
:dehumanize:

:pirate::hf::tinfoil:

CAPS LOCK BROKEN posted:

Yeah I don't get the weird white guy assumption that people will hate it when they show up.

White people are starting to really internalize the idea of people hating them* when they show up.

*white people

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gradenko_2000
Oct 5, 2010

HELL SERPENT
Lipstick Apathy

Prince Myshkin posted:

Guy in the PYF Tankie thread is sincerely citing Frank Dikotter.

Lmao

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