Top 10 African countries with the highest Chinese debt

#21
You know what they don't tell you is that just like the Americans the Chinese themselves have insane levels of internal debt.

Those empty cities and airports you see in China were built using debt i.e local govts borrowing from the national govt to build empty crumbling housing.

To do this China just like America prints a lot of treasury bonds.

This year alone the Chinese govt plans to print and auction off 1 trillion Yuan or $148 billion to assist the economy in covid recovery.

Ndio hio link from CGTN :

https://news.cgtn.com/news/2020-06-...-special-treasury-bonds-RyQV1ukAq4/index.html


But utaskia the likes of @BBIsiMuhimu or @Kennedy Maina talking as if the U.S is very unique in terms of printing treasury bonds.

You will even hear Kennedy Maina swearing that it's only America or white people that print fake money in terms of treasury bonds.

All I can do is shake my head in amazement.
Kennedy Maina is an Antics BLM activist who swears by the leftist ideologies
 

Brayo44ki

Village Elder
#27
[QUOTE="T.Vercetti, post: 2927728, member: 56818"

All I can do is shake my head in amazement.[/QUOTE]
Given the size of your balding head, this must take a long while :D :D
 

Deadevil

Village Elder
#28
Debt is not bad if you use it to build up your country.... Countries like Australia developed running a deficit which they used to build capital. Chinese debt is benefiting many african countries in term of infrastructure, in Ethiopia that is the case which is slowly becoming an east african super power. Also Angola is the 3rd biggest economy in subsaharan Africa and has become that in just 20 years since leaving communism behind and ending a long civil war. With the new president whom seem to be anti corruption and want to improve Angola it can go far, and it will in the near future overtake its former colonial country Portugal in economic sense.
You cannot put Angola and Anti-corruption in the same sentence. Are you aware of the Dos Santos family and how much they have looted in Angola. Our dynasties don't even hold a candle to them.
 
#29
Debts are not bad if used wisely. Even at a personal you need to take a mortgage, car loan, education loan, asset finance loan, business loan, construction loan etc for you to "develop". A country also needs loans to build roads, railways, dams, ports to facilitate and uplift the lives of the wananchi.
 

Deadevil

Village Elder
#31
This is what i wrote ''With the new president whom seem to be anti corruption and want to improve Angola it can go far''.
Now i get you, the new president has began house cleaning and the lady is number one on the list. He must have really hated Jose despite being on the same political party
 

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