Dark Secrets Of China: Chapter 1
- ankitpatil925
- Jun 29, 2020
- 3 min read
DARK SECRETS OF CHINA'S EXPONENTIAL GROWTH
CHAPTER 1: HOW AFRICA IS BECOMING CHINA'S CHINA? Currently, nations have gone through a lot due to unexpected pandemic and several other things. The economy has already fallen for many, while the governments are trying their best to keep the economy of the country stable. However, there are still some countries that haven't faced many economic problems like several others. It's probably because of their systems before the pandemic and how they held themselves.
If we have a look at the graph given below, it's clear that China is the second richest country in terms of GDP! Which is actually very impressive for such a country! But have you ever wondered how does China manage to stay in the top leagues? Have they been doing so good or is it something else!
The Chinese government has huge propaganda for dirty works! These filthy plans actually never came to notice until now! Let's uncover The Dark Side of The Chinese Government*. Please understand here I solely speak about the Government of China and not its citizens!
So what was China's so much reliable and powerful weapon that it had overthrown many countries with!?
Debt Trap Diplomacy!!
So what is the Debt trap? It's basically a situation where one is unable to repay their debts to someone due to the very high-Interest rates and limited time period, hence leading the individual to bankruptcy!
It's a policy badly used by few to destroy one’s financial structure for its own growth. Developing countries are the worst hit from this policy! Currently, this policy is being exponentially used by the Chinese Government in such countries. The Chinese government has already lead a few countries to bankruptcy by using this policy, namely several African countries and Sri Lanka as well.
Let's take a simple explanation for the basics of this! Suppose you take a loan of X amount for any purpose, of course after you have a fixed time period in which you have to return the sum X with interests(if applied). Now if you're unable to repay, you have to keep everything you earn hereon on lease to the lender. It's easy to repay on the lease as well if the "X" is small and repayable! But what if it was huge! Real Huge! In the case of Debt Trap Diplomacy though, the lender knows that the borrower will not be able to repay back the debt in the given period of time! The Chinese did something like this and it has turned a great profit for themselves!
Back in September 2019, the Chinese pledged to invest as much as $60 Bn in African countries in order to help them establish and sustain a good life towards their people, believing that China- African community would grow strong and it was a win-win scenario for both of them, according to the Chinese President.
However, the African countries were not able to repay this debt back to the Chinese, as an agreement China took away several African ports for its personal use. Concluding that the “win-win” situation totally favored China and they were able to gain complete ownership to major ports in Africa while African countries went bankrupt and caught up in the Debt Trap Diplomacy! Few of these countries are Sudan, Republic of Congo with an estimated $100+ Bn of Debt to China.
Africa is a resourceful continent, all the gold, cheap labor, and few more assets are why china chose to exploit them and push them to bankruptcy.
These countries are in no shape of repaying the debt for the next 100 years. That worse!
Sri Lanka too shares the same story. China lent the Sri Lankans a small 1.5 Bn for building a port in Hambantota. Unable to repay the debt, China took over the port and made it accessible for themselves. Sri Lanka being a small country is in no condition to repay this debt any soon.
The “win-win” scenario was always in terms of the Chinese if the country is able to pay the debt, they win, if not, they get access over their assets and still win!
Well, it's believed that the Chinese are acquiring many ports around the globe by the policy, and have been able to strategize its armies and dominate the same.
Well, China indeed has some huge plan under its sleeve, waiting for the right time to surpass every other nation and dominate over them!
Thanks for reading and I hope that I was able to make you understand the Chinese plans!
We have a few more blogs rolling out soon on the same very soon! It's china we're talking about, of course, you can't cover it up in one! Keep reading and visiting!
Signing of!
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