₦airaland Forum

bigpicture001:
...u may b ryt to say dey are both ripping us.. but America has shown over decades that it is for transparent, corupt free, poverty free, tyranny free African govts.africa loves china ONLY cuz it's helps them.to steal all her resources

DaniDani:
I like this. USA cannot remain at the center forever. They have ruled and ruined for too long. Roman power, German invasion, and British Colonial Administration etc they reigned and left for others. USA should prepare for China to Mount the center stage

bigpicture001:
..mr man.nowliaten to d real education cuz ur so so myopic about the world of development. the US has never ever made itself a loan giving country, instead it gives grants which are free of interest. do u know that the US AID spend more money on aub-sahara African on developments than even the united nations and also.more than the govt of these countries. I mean human development. du u know that the US AID offset the medical drugs cost of more than 4million HIV carriers in Nigeria. du u know that the US govt is the only reason ur police that is known for brutality does not go ahead and kill u. mayb u don't know how the SARS, prison wardens and co fear amnesty international. I know cuz Av been dia b4. now u don't even know that more than 80peecent of china's scholarships to Nigeria are for those going to learn the chinese language. so u know the chinese govt dos not care if ur president steals all d money dey loaned to them..? do u know that the US govt is so just that it gave a court rulling victory against it own firm for oil pollution in the niger delta whilat the Nigerian judicial system has already supported the Americans. have u heard about any happy worker in Nigeria in a chinese firm. du u know that most of these infrastructure loans come with clauses that more than 60 percent chinese firms will execute the projects


who is deceiving u dat the US is expoiting.nigerians or africans,they instead see us as ppl who are suffering nd need help,which they render through loans,grant.hunan right record. good govt and transparent govt. Go ahead and embrace china and later loose ur famous tin can island port or a portion of Niger delta oil wells. ur a big fool to tink china support Africa. they instead are luking to hook on to African resources...nd take full ownership of them forever....open ur eyes ma man. china does love u.the west do instead

Teewhy2:
This why am a bit worried with people that the president took to the meeting, most of them are after their pockets and what they will eat today they don't care about the state or citizens.
I was expecting him to take along with him business men, this kind of meeting is where Osinbajo also needs to attend has a legal person that can read in between the lines because anything chinese e get as e dey be ooo.

InvertedHammer:
/
Everything Nigeria need to develop is in Nigeria but just like an average Nigerian online, we are addicted to begging and being a welfare State. A loan is a loan and comes with collaterals. Let's hope it is not oil. China sent students to the West, studied Western style of capitalism and tweeked them to suit themselves. The Nigerians that went to the West refused to return because the leaders lack foresight and fresh ideas are buried on the altars of nepotism, tribalism and egocentrism. Thus, we have engineers that can't build.
Thousands of graduates and the society remains stagnant which begs the question: Do Nigerians understand what school and education are all about?

Looking at the current trend, the best position is to divest out of naira. Nigeria will be an example to prove to the world that blacks have low I.Q and are not intellectually equipped for self rule. The non-Africans have continued to prove this assertion time without numbers. The West will support the most idiotic leader that will not question their supremacy. Why do you think prospective Nigerian leaders run to London first to seek validation from their masters?

/

InvertedHammer:
/
Everything Nigeria need to develop is in Nigeria but just like an average Nigerian online, we are addicted to begging and being a welfare State. A loan is a loan and comes with collaterals. Let's hope it is not oil. China sent students to the West, studied Western style of capitalism and tweeked them to suit themselves. The Nigerians that went to the West refused to return because the leaders lack foresight and fresh ideas are buried on the altars of nepotism, tribalism and egocentrism. Thus, we have engineers that can't build.
Thousands of graduates and the society remains stagnant which begs the question: Do Nigerians understand what school and education are all about?

Looking at the current trend, the best position is to divest out of naira. Nigeria will be an example to prove to the world that blacks have low I.Q and are not intellectually equipped for self rule. The non-Africans have continued to prove this assertion time without numbers. The West will support the most idiotic leader that will not question their supremacy. Why do you think prospective Nigerian leaders run to London first to seek validation from their masters?

/

Vocnewsblog:
God bless China for their benevolence.

InvertedHammer:
/
Everything Nigeria need to develop is in Nigeria but just like an average Nigerian online, we are addicted to begging and being a welfare State. A loan is a loan and comes with collaterals. Let's hope it is not oil. China sent students to the West, studied Western style of capitalism and tweeked them to suit themselves. The Nigerians that went to the West refused to return because the leaders lack foresight and fresh ideas are buried on the altars of nepotism, tribalism and egocentrism. Thus, we have engineers that can't build.
Thousands of graduates and the society remains stagnant which begs the question: Do Nigerians understand what school and education are all about?

Looking at the current trend, the best position is to divest out of naira. Nigeria will be an example to prove to the world that blacks have low I.Q and are not intellectually equipped for self rule. The non-Africans have continued to prove this assertion time without numbers. The West will support the most idiotic leader that will not question their supremacy. Why do you think prospective Nigerian leaders run to London first to seek validation from their masters?

/

nextstep:
Oh, I understand... this is a US-centric fear of Chinese dominance in trade with Africa.

They didn't complain when they were making all those loans in the 70's and 80's via IMF and World Bank that crippled most African economies until 2000's. They didn't complain when the money was used to buy their own products, with interested paid on top. Now that their lunch is being threatened, they're pointing out the dangers of loans...

Chinese entrepreneurs are investing heavily in Africa, hiring labour and building infrastructure. They are also a cheaper source of goods and machinery that African entrepreneurs are buying and using to boost our economy.

Around the world the USA is retreating - insulting friends and allies all the way - and China is quietly stepping in to fill those shoes, making deals with Europe, with Japan, with the rest of Asia, and with Africa. No dogma or imposing their views, just doing business.

win2kwire:
Mount the center stage is your worry?
So you rather be slaves to the Chinese than modern day westerners?

The west were never good role models but the Chinese will be even more brutal and disastrous, if you think Africa has it bad now wait until China fully controls the continent and then see where your fortunes lie.

Stupid stupid African monkeys with the mental intelligence of apes and chimpanzees are being enslaved but they are talking about silly things!

bigpicture001:
..mr man.nowliaten to d real education cuz ur so so myopic about the world of development. the US has never ever made itself a loan giving country, instead it gives grants which are free of interest. do u know that the US AID spend more money on aub-sahara African on developments than even the united nations and also.more than the govt of these countries. I mean human development. du u know that the US AID offset the medical drugs cost of more than 4million HIV carriers in Nigeria. du u know that the US govt is the only reason ur police that is known for brutality does not go ahead and kill u. mayb u don't know how the SARS, prison wardens and co fear amnesty international. I know cuz Av been dia b4. now u don't even know that more than 80peecent of china's scholarships to Nigeria are for those going to learn the chinese language. so u know the chinese govt dos not care if ur president steals all d money dey loaned to them..? do u know that the US govt is so just that it gave a court rulling victory against it own firm for oil pollution in the niger delta whilat the Nigerian judicial system has already supported the Americans. have u heard about any happy worker in Nigeria in a chinese firm. du u know that most of these infrastructure loans come with clauses that more than 60 percent chinese firms will execute the projects


who is deceiving u dat the US is expoiting.nigerians or africans,they instead see us as ppl who are suffering nd need help,which they render through loans,grant.hunan right record. good govt and transparent govt. Go ahead and embrace china and later loose ur famous tin can island port or a portion of Niger delta oil wells. ur a big fool to tink china support Africa. they instead are luking to hook on to African resources...nd take full ownership of them forever....open ur eyes ma man. china does love u.the west do instead

Teewhy2:
This why am a bit worried with people that the president took to the meeting, most of them are after their pockets and what they will eat today they don't care about the state or citizens.
I was expecting him to take along with him business men, this kind of meeting is where Osinbajo also needs to attend has a legal person that can read in between the lines because anything chinese e get as e dey be ooo.

DaniDani:
I like this. USA cannot remain at the center forever. They have ruled and ruined for too long. Roman power, German invasion, and British Colonial Administration etc they reigned and left for others. USA should prepare for China to Mount the center stage

madenigga:
did Donald Trump actually think that he could insult the president of the federal republic of Nigeria and get away with it.

bigpicture001:
....plz Hw is trump.ploting to be richer than america

djon78:
The worst time America had issues was during George W Bush era. American economy was on fast lane which led to 2008 global economic meltdown. Obama put a lot of reform's. Presently Trump s economic policies is not bad for American economy. Intact Trump is even rising up to the biggest threat to US presently which is China with her sharp economic malpractices.

eodavids:
Note that if American economy undergoes recession, the entire world will feel it.

Desist from harbouring hatred against U.S. have you ever summed up the AIDS that U.S dispenses to countries of the world annually?

Have you also summed the AIDS emanating annually from U.S. billionaires like Bill Gates and co?

If just the AIDS going to other countries from U.S will be stopped, many countries will almost cease to exist. So know it, U.S. strong economy is in the interest of all. To wish the contrary is suicidal.

China, on their part, are talking advantage of poorer countries. Tell me about ChinaAIDS to poorer countries if there are pls.

olajide8:
Simple, let me use this analogy you cannot lift someone above where you hand reaches - only a person above you, can lift the person beyond your height in this case a conglomerate of other countries beyond your country of resident can provide that opportunity - why do you think dangote is worth nigeria's budget for 3yrs? If his networth is mopped out of nigeria's economy would nigeria still exist? I wish I could break it down into the nitty gritty but it would be a difficult task - so I implore you to do a bit of personal research

olajide8:
Simple, let me use this analogy you cannot lift someone above where you hand reaches - only a person above you, can lift the person beyond your height in this case a conglomerate of other countries beyond your country of resident can provide that opportunity - why do you think dangote is worth nigeria's budget for 3yrs? If his networth is mopped out of nigeria's economy would nigeria still exist? I wish I could break it down into the nitty gritty but it would be a difficult task - so I implore you to do a bit of personal research

dipoolowoo:
By Grant T. Harris

This week, China hosted leaders from across Africa for a summit in Beijing. The last summit was held in December 2015 in Johannesburg, South Africa, where Chinese President Xi Jinping announced $60 billion in funding support for infrastructure development in Africa.

The Forum on China-Africa Cooperation included an eye-popping announcement of billions of dollars more in Chinese financing to build infrastructure across the continent. But these massive loans can come with steep and opaque conditions.

It’s tempting for Americans to think this is not our problem. But as African countries sink deeper and deeper into Beijing’s carefully laid debt trap, the United States could pay a steep cost in reduced cooperation on counterterrorism and job creation.

Chinese debt has become the methamphetamines of infrastructure finance: highly addictive, readily available, and with long-term negative effects that far outweigh any temporary high. This is particularly true in sub-Saharan Africa, where China has become the largest provider of bilateral loans. Forty percent of sub-Saharan African countries are already at high risk of debt distress; by having so much debt concentrated in the hands of a single lender, they are dangerously beholden to their supplier.

Why does this matter? Because in Africa and elsewhere, governments have secured massive loans from Beijing using strategic assets—such as oil, minerals, and land rights— as collateral. If borrower nations find themselves unable to repay the loan, China can claim the strategic asset. Sri Lanka recently learned this the hard way and handed over control of the port of Hambantota, giving China a strategic foothold along a busy trade waterway.

According to Professor Brahma Chellaney at the New Delhi-based Center for Policy Research, “several other countries, from Argentina to Namibia to Laos, have been ensnared in a Chinese debt trap, forcing them to confront agonizing choices in order to stave off default.”

While Chinese debt diplomacy may not seem relevant to most Americans, it is a serious threat to US national security. Most directly, China’s crafty negotiations and seizure of strategic assets can limit US influence and access overseas.

For instance, the tiny country of Djibouti is home to the most significant American military base in Africa. Thanks to Chinese loans, Djibouti’s debt-to-GDP ratio surged from 50 to 85 percent between 2014 and 2016. If Djibouti were to default and relinquish the port that resupplies the US base, American military capability in Africa and the Middle East could be seriously threatened.

More broadly, unsustainable levels of debt can destabilize African states, which also compromises American security interests. Over-leveraged governments can get caught in a downward spiral of credit downgrades, reckless economic policies, and reduced spending on social services. With economic stagnation comes fewer opportunities for Africa’s fast-growing and young population. And the toxic brew of economic hopelessness and political disillusionment can drive disaffected youth toward violent extremism. That can threaten Americans abroad and, potentially, even at home.

Finally, China’s debt diplomacy shuts out opportunities for US businesses. Not only do Beijing’s cheap infrastructure loans come with conditions to employ Chinese companies, they also set out technical specifications for projects like high-speed railways and wireless networks in a manner that favours Chinese firms. The combined effect of these efforts “would push the United States away from its current position in the global economy and move China toward the centre,” according to Jonathan Hillman, a fellow at the Center for International and Strategic Studies. China already earns $180 billion annually from its investments in Africa; if its debt diplomacy remains uncontested, it’s likely that even more revenues and jobs will flow to China, instead of the US.

But this outcome is far from inevitable. The US has plenty of good options, but it needs to dramatically step up its game and support alternatives to Beijing’s aggressive finance initiatives. Perhaps most fundamentally, the US needs to focus on boosting African economic growth. Helping African states to strengthen investment climates and economic governance will help them attract more private sector capital and provide more entry points for US companies. A key component is assisting African efforts to increase transparency, so that all the costs and benefits of project finance options are openly known. Fully staffing US embassies and offering more technical assistance to evaluate loan agreements and investment contracts would be a good start.

To date, the Trump Administration’s Africa policy has been adrift, defined more by racial epithets than any cohesive strategy or results. By comparison, China has a clear vision that will yield long-term benefits.

In Africa and around the world, much more needs to be done to confront Chinese debt diplomacy. If not, the US will pay a heavy price in its commercial and national security interests.

Harris is CEO of Harris Africa Partners LLC and advises companies on investing in Africa. He was senior director for Africa at the White House from 2011-2015.

https://www.businesspost.ng/2018/09/04/chinas-billion-dollar-loans-to-africa-why-us-should-be-worried/

bigpicture001:
..honestly ur analogy doesn't add up..

CROWNWEALTH019:
Average Muslim thinking, yet they want to go to america instead of Saudi

Hypocritical fulls

olajide8:
I doubt if you have read biographies/histories and stories of some of the greatest man like cadburies kenturkey (they all invested beyond their states of initial origin and became national brands)- I want to believe their stories are on line - but I guess the analogy would be too far fetched and may not be very much understandable, in the context of this discussion - so let me use the analogy of states in nigeria, using 2 or 3 states to explain- lagos, Ogun and kebbi state- lagos state is the state with the highest IGR in nigeria currently, accepted? Now, lagos has a population of 20m people - but lagos needs people to run the economy and in return pay taxes- we know some come from ogun state and pay indirect taxes to lagos state, such as transport levies and garage tickets levies etc accepted? This adds to the IGR of lagos state -without digressing - now when residents are properly taxed, lagos state would be able to say they are collecting N500b on IGR except they introduce other taxes or levies or increase levies - they would employ this to infrastructure and if they try and push for more revenue it may not be available and it may waiver b/w 1 - 5%± - so in order to expand streams of income they could invest in ogun state or do what they are doing now invest in kebbi state (lake rice) when their income are stagnated, the income from these investment would continue to increase income IGR to Lagos state expanding the level of wealth accruing to lagos state but expanding beyond its boundaries - now imagine lagos state also investing in the west african sub-region- dollars would accrue from these investments and that's how lagos could become richer then nigeria - now super-impose this analogies

CROWNWEALTH019:
Average Muslim thinking, yet they want to go to america instead of Saudi

Hypocritical fulls

djon78:
You got it spot on. That technology transfer is the worst. And for Africa to develop we need serious technology transfer. This was how Asian countries developed starting from Japan copying American technologies, then later Asian tiger's, China then India.

But African leaders with short sighted ness lack even basic understanding of what is facing future generations.

bigpicture001:
..i now understand ur analysis..but that is by the way. it is only applicable in the Textbooks where man y other things are held constant so that lagos income would grow sporadically. from ur analogy,lagos fist started with revenue from taxes and later grew into revenue from.both taxes and investments. in the real context, a nation earns revenue from very many avenue other than tax,again, a nation will not stay static in revenue drive whilst only lagos kip chasing for more more revenue. so it's not possible that lagos with its megre,resources with hitherto be greater than Nigeria by revenue comparison so also with trump and America..

Realname:
Is.america the reason your economy is in recession?

Are they the reason your executive and their children go their to buy power bikes worth millions.of dollars? Are they the reason your president goes to the United kingdom for medical.check up?

Giving all these.money to Western countires to use to develop their societies ?

Are they the reason magu owns homes.in Dubai?

Are they the reason all your executive and their kids own homes in foreign countries?

Are they the reason NIGERIAS infaltion rate is rising in double.digits for the last couple of years ?

Let me stop there