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Stats: 2,930,780 members, 7,086,909 topics. Date: Sunday, 25 September 2022 at 12:08 PM
Chinese Loans: How FG Signed Empty Loan Repayment Documents – Reps / Sagay: Nigerians Displaying Ignorance Over Chinese Loans / Chinese Loans: Oby Ezekwesili Reacts On Twitter But Got This (2) (3) (4)
|10 Countries Screwed By Chinese Loans by FeliciaOja(f): 1:22pm On Aug 18, 2020|
Look at what China did to these 10 countries that failed to repay China Loans
1. Siri Lanka
It was widely assumed that Sri Lanka, with a population of just over 21,898,000, was unable to pay off the loans obtained from China to construct Hambantota port in the first place, and therefore had no choice but hand over the port to Chinese control to pay off the debt
Problem : Since the Siri Lanka can't pay off the debts of China. They had to lease their Hambantota port to China Merchant Port Holdings Limited for 99 years.
This means China now controls what enters or what is imported to siri lanka. Meaning more of their made in China products will enter Siri Lanka and flood the markets thereby making more money for china
In Djibouti, East African country, the public debt has increased to roughly 80 percent of the nation’s country’s GDP. China, meanwhile, owns the lion’s share, which has placed the country at high risk of debt distress.
China is promoting road and port construction in this country, and one among them is the Djibouti International Free Trade Zone — a $3.5 billion project undertaken by China in cooperation with the Djiboutian government.
Problem : Djibouti found itself saddled with Chinese debt, hence it has been forced to lease one of its military bases to Communist China for just US$20 million a year
Angola, Africa’s second-biggest oil producer, is one another example of the debt-trap in China’s diplomacy.Angola has repaid its US$25 billion debt to China with crude oil, creating several problems for its economy. Over 99 percent of Angolan exports to China are petroleum products. China has, so far, lend over US$60 billion Angola through direct investments and infrastructure projects since it established its diplomatic ties with China in 1983
Problem : Angola’s ability to repay the debt is dependent on the oil price. Now that, every Angolan citizen owes US$754 to Beijing.
Pakistan is at high risk, and currently projects an estimated $62 billion in additional debt. China reportedly finances about 80 percent of that.
Problem: Pakistan will have to pay China US$40 billion for the $26.5-billion CPEC investments in 20 years. This figure, however, does not include the $8.2 billion Mainline-I project of Pakistan Railways. This is the only project that will be materialized in the next few years.
There are 6 more countries in the list
2. Laos/ Cambodia
5. The Maldives
Will Nigeria be among the list of countries who are taken over by Chinese govt. For falling to repay loans??
Our future generations will soon be speaking and learning Chinese in school.
What happens when Nigeria fail to repay China loans?
Will China seize our crude oil plants and flex our oil??
5 Likes 1 Share
|Re: 10 Countries Screwed By Chinese Loans by slivertongue: 1:25pm On Aug 18, 2020|
Nigeria's case is loading.
the rate of borrowings for trivial things will further hurt the economy. the Chinese borrow mostly to wasteful, corrupt and poor nations who have potentials but who may not be in a position to pay back as at when due. Abuja, Lagos and Kano must watch it. China is coming for assets in ur states.
|Re: 10 Countries Screwed By Chinese Loans by Nobody: 1:27pm On Aug 18, 2020|
That will be fine if china takes over Nigeria as they did to other countries .
|Re: 10 Countries Screwed By Chinese Loans by FeliciaOja(f): 1:30pm On Aug 18, 2020|
MelesZenawi:Your future generations will curse you for selling their future to China.
Chinese are taking over the world gradually by targeting underdeveloped countries and plunging them to debt.
These countries are now at the mercy of China. If China want to take their lands they will and they can.
|Re: 10 Countries Screwed By Chinese Loans by OkuFaba(m): 1:31pm On Aug 18, 2020|
We were already ruined then Chinese loan started flowing, and our clueless leaders dey chop e dey sweet them.
Lass lass China will just ask for receipts and C of O, na that time e go clear for or eye say dem no just sell the nation, but they even sold us as slaves
|Re: 10 Countries Screwed By Chinese Loans by Nobody: 1:32pm On Aug 18, 2020|
I don't have time for wailing young man. let Chinese take over Nigeria.
It is a welcome development. Let Chinese plunge us into debt and take.
let Amaechi continue building rail, when he was building ibadan, kaduna rail, u didn't remember the debt but now he wants to build for his people in pH, u remember Chinese debt..
Let Chinese take over.
|Re: 10 Countries Screwed By Chinese Loans by FeliciaOja(f): 1:34pm On Aug 18, 2020|
OkuFaba:Very soon we will start learning Chinese as a foriegn language in school.
No job for you if you can't read or write in Chinese. Lol our future generations go swear for us oo. We better take action
|Re: 10 Countries Screwed By Chinese Loans by spy24(m): 1:36pm On Aug 18, 2020|
we keep on blaming gvernment , forgetting that we, the citizens of this country have chosen to elect our leaders based on tribal sentiments religious affiliations and the political party that they belong to. hatred for one another cannot make us elect qualified people as president
letter when they start misbehaving we start to cry foul
let me ask a question. which sane nation would take atiku and buhari as presidential candidates and make osinbanjo and peter obi vice ?
2 Likes 1 Share
|Re: 10 Countries Screwed By Chinese Loans by FeliciaOja(f): 1:36pm On Aug 18, 2020|
MelesZenawi:By the time govt. increase tax and price of food gets high. Your eye go clear
|Re: 10 Countries Screwed By Chinese Loans by Nobody: 1:38pm On Aug 18, 2020|
Even now things are not cheap, let them come and increase it..
We need Chinese here.
|Re: 10 Countries Screwed By Chinese Loans by FeliciaOja(f): 1:39pm On Aug 18, 2020|
spy24:No time for blame games
It's time for us Nigerians to show that we are better and more wiser than our leaders.
But in all honesty it's already late
|Re: 10 Countries Screwed By Chinese Loans by LukasPodolski: 1:41pm On Aug 18, 2020|
We need more Chinese loans.
We would pay back.
|Re: 10 Countries Screwed By Chinese Loans by Ryda(m): 1:41pm On Aug 18, 2020|
Nigeria patiently waiting to top the list.
1 Like 1 Share
|Re: 10 Countries Screwed By Chinese Loans by flokii: 1:42pm On Aug 18, 2020|
The Chinese are very systemaic in their approach.. what they always offer to build is seaports, railways and the likes with loans you won't see, with Chinese contractors and Chinese engineers (no transfer of technology or local content allowed). What this means is that they give corrupt countries loans knowing fully well they won't be able to pay back, generate revenue for China using Chinese bought equipment and still expect the country in debt to pay back the loans with interest.
The reason Nigerians need to call this present government to order now before it is too late.
The seaport they are building will be taken over by Chinese company and Nigeria won't have control over what enters or leaves the country. The railways they are constructing is to transport their Made-in-China goods all over the country once they take full control of our economy.
RIP in advance to the ailing local manufacturing industry in Nigeria. The im.beciles we have at the helm of affairs have failed us.
Imagine a minister supposedly educated signing a loan deal in Chinese language with unreasonable terms all for what?
|Re: 10 Countries Screwed By Chinese Loans by Millimann: 1:45pm On Aug 18, 2020|
It's like China is giving out jazzed loans. Naija be careful.
|Re: 10 Countries Screwed By Chinese Loans by helinues: 1:48pm On Aug 18, 2020|
President Macron of France is the current world leader as he has been traveling to troubling countries...
China are over stepping their boundaries and na in-house ( Honk Kong, Taiwan) will make them fall from the position of world power
|Re: 10 Countries Screwed By Chinese Loans by flokii: 2:00pm On Aug 18, 2020|
Worthy mentions include: Zambia, Zimbabwe, South Africa and some other African countries not yet on the radar.
The irony of the matter is that the Chinese loans were all taken in secret by government officials in those countries with Chinese government.
Same way Amaechi is asking the House of Reps not to question Chinese loan terms because it has to be secret. When will Africans have sense for crying out loud.
6 Likes 1 Share
|Re: 10 Countries Screwed By Chinese Loans by FeliciaOja(f): 2:07pm On Aug 18, 2020|
flokii:YOU ARE VERY VERY WISE!!
|Re: 10 Countries Screwed By Chinese Loans by FeliciaOja(f): 2:12pm On Aug 18, 2020|
flokii:I weep for Nigeria's future.. let me go and start learning Chinese language Incase one day it will become a job requirement.
|Re: 10 Countries Screwed By Chinese Loans by Legalcriminal: 2:12pm On Aug 18, 2020|
Me wondering how rich is this China
|Re: 10 Countries Screwed By Chinese Loans by FeliciaOja(f): 2:16pm On Aug 18, 2020|
Let's push this to front-page
Nigerians needs to be aware of what is looming behind us.
|Re: 10 Countries Screwed By Chinese Loans by FeliciaOja(f): 2:20pm On Aug 18, 2020|
Legalcriminal:According to the IMF, China's GDP was $14.3 trillion (99 trillion Yuan) in 2019.
|Re: 10 Countries Screwed By Chinese Loans by Millennialaku(m): 2:25pm On Aug 18, 2020|
chaii....just see my fellow Nigerian citizens
|Re: 10 Countries Screwed By Chinese Loans by FeliciaOja(f): 2:38pm On Aug 18, 2020|
Millennialaku:I just tire.. na until the Chinese bulldoze this village and take their land for building more infrastructure that we will still pay for heavily.
That's when his eyes go clear
|Re: 10 Countries Screwed By Chinese Loans by FeliciaOja(f): 2:49pm On Aug 18, 2020|
helinues:The whole world is watching.. let's see how it plays out
|Re: 10 Countries Screwed By Chinese Loans by abduljabbar4(m): 2:49pm On Aug 18, 2020|
I am just tired of debating on this issue. The people complaining here can go and hug transformers if they don't like it. China is here for business, and no sane person gives loans without some form of guarantee.
You can keep worshipping IMF and USA if you like just like the way francophone African countries are doing to France, but Nigeria prefers China. In fact, watch out for more loans and Chinese companies here.
Some are saying that we will soon be learning Chinese, but Chinese people in Kano and Kaduna are currently learning and speaking Hausa (while employing thousands of Hausa people). How many white men speak Igbo in your places.
You can cry us a river please
|Re: 10 Countries Screwed By Chinese Loans by IamWonderful: 3:00pm On Aug 18, 2020|
if there is no kind of sabotage, how much is Chinese loan that we will not be able to pay, but our brother from poverty capital of the south can sabotage anything,they are more wicked than the devil
|Re: 10 Countries Screwed By Chinese Loans by FeliciaOja(f): 3:02pm On Aug 18, 2020|
abduljabbar4:You're are mentally slow zombie
With majority of slow people like you in Nigeria
It's no surprise why we have bad leaders.
In 2015 your types were defending Buhari
5 years later you northeners are still in hellfire and bloodshed daily.
Una Neva get sense
|Re: 10 Countries Screwed By Chinese Loans by abdul824: 3:08pm On Aug 18, 2020|
what has partnership with the US and Europe yielded over the years. the only thing they are good at is selling weapons and bringing useless aids.. most infrastructural projects going on now is all thanks to the Chinese..
|Re: 10 Countries Screwed By Chinese Loans by Nobody: 3:14pm On Aug 18, 2020|
U don't want to pay the MONEY you borrowed..
I don't understand..
Were you expecting a FREE MONEY or what..?
We can also solicit the services of the ABACHAS and the IBBS after all they are capable even from the grave.
|Re: 10 Countries Screwed By Chinese Loans by FeliciaOja(f): 3:37pm On Aug 18, 2020|
EVILFOREST:You are very naive
If you're earning 20k per month and a bank say they will give you a loan of 50 million naira and if you don't pay they will take your house and you will still owe them.
Will you sign such a deal
Not all loans are good loans
The condition of the loan is what matters not the loan itself.
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