China hit by surge in Belt and Road bad loans, $78bn renegotiated or written off in past 3 years

[Menthol]

That is what you paid for the price of being friendly.

Other people are always smarter than you.


The naive thing about China, they think other people around the world are like them.

You build, and the money will come.

In reality, if you build, the money will not come. You pay for it, even if one day it turns out to be great, everyone will forget you.

Do you think everyone is owning you something???

People complain and blame for the suffering they have, but then forget everything once the suffering becomes a thing of the past, including to the man who helped them.

Today, it's called smart and pride.

 

[nahtanbob]

That is what you paid for the price of being friendly.

Other people are always smarter than you.


The naive thing about China, they think other people around the world are like them.

You build, and the money will come.

In reality, if you build, the money will not come. You pay for it, even if one day it turns out to be great, everyone will forget you.

Do you think everyone is owning you something???

People complain and blame for the suffering they have, but then forget everything once the suffering becomes a thing of the past, including to the man who helped them.

Today, it's called smart and pride.

correction: China is not building things to be friendly. The projects are being executed with Chinese companies, banks, materials and labor. They know exactly what they are doing. In fact they probably know a lot of these projects are going to fail.

 

[etylo]

correction: China is not building things to be friendly. The projects are being executed with Chinese companies, banks, materials and labor. They know exactly what they are doing. In fact they probably know a lot of these projects are going to fail.

Dont talk BS nonsense.

 

[nahtanbob]

Dont talk BS nonsense.

Tell me which part is BS

correction: China is not building things to be friendly. The projects are being executed with Chinese companies, banks, materials and labor. They know exactly what they are doing. In fact they probably know a lot of these projects are going to fail.

 

[etylo]

Tell me which part is BS

correction: China is not building things to be friendly. The projects are being executed with Chinese companies, banks, materials and labor. They know exactly what they are doing. In fact they probably know a lot of these projects are going to fail.

Total BS. Why don't you ask all those countries to build those projects by themselves or by India instead, without any Chinese finances, tech and management, lol, what' a stupid statement of yours. China is building those projects to make enemies of those countries and China designed those projects to fail, what a nonsense and only a fool can only come up with such assumptions, lol.

 

[nahtanbob]

Total BS. Why don't you ask all those countries to build those projects by themselves or by India instead, without any Chinese finances, tech and management, lol, what' a stupid statement of yours. China is building those projects to make enemies of those countries and China designed those projects to fail, what a nonsense and only a fool can only come up with such assumptions, lol.

If the projects were not going to fail why insist on sovereign loan guarantees for the project ? why insist on keeping those details secret ?

FYI India is building their infra without Chinese help. They do not have any debt issues

 

[etylo]

If the projects were not going to fail why insist on sovereign loan guarantees for the project ? why insist on keeping those details secret ?

FYI India is building their infra without Chinese help. They do not have any debt issues

Are you think Chinese are that stupid to approve any borrowings for the projects without any guarantees of the host countries, its common practice of any country doing business, Chinese investments are suppose to be free eh in your mind, don't talk nonsense. India isn't building any noticeable of its crap in any foreign country.

 

[Menthol]

correction: China is not building things to be friendly. The projects are being executed with Chinese companies, banks, materials and labor. They know exactly what they are doing. In fact they probably know a lot of these projects are going to fail.

You are wrong.

The project is executed by the local workers and experts in their field.

You are in the USA, you are not part of BRI, how do you know more than the people who experience it firsthand?


Yes, that is the naive thing about China, to think others will success like them.

But at least China gives them a change.

The project is purposed, designed and planned by the locals, executed by their own plan.

In theory the locals know better about their situation and needs.

But still despite that, the change of failure is big.

Most of the local want China miracle kind of thing, but it won't happen.

If the projects were not going to fail why insist on sovereign loan guarantees for the project ? why insist on keeping those details secret ?

FYI India is building their infra without Chinese help. They do not have any debt issues

You don't understand about China debt.

China debt is their own money but written as debt that need to be paid to themselves in the future.

Basically, it's government money, borrowed from the government by the government and needs to be paid by the government to the government.


If India is building their infrastructure...

The money they spend is equal to the infrastructure they get.

 

[RealDeal]

correction: China is not building things to be friendly. The projects are being executed with Chinese companies, banks, materials and labor. They know exactly what they are doing. In fact they probably know a lot of these projects are going to fail.

Most of these projects are not even needed. they are vanity garbage projects that benefit no-one. You will see that most if not all countries having Chinese projects are all dictatorships or fake/psuedo democracies. Chinese bribe the dictators and their associates, make them sign on to billion dollar projects without any RFP or bidding process, rob the country in daylight, after a decade, the country cannot pay - the dictator doesnt really give a shit and flees with hundreds of millions in swiss account.

 

[nahtanbob]

The project is purposed, designed and planned by the locals, executed by their own plan.

In theory the locals know better about their situation and needs.

But still despite that, the change of failure is big.

Why does infrastructure projects like bridges need sovereign pledges ? These are commercial transactions not military or strategic projects.

Why are these agreements done in secrecy ? It is China that does insist on secrecy in most cases. If these things are so great why wouldn't you want the locals to know about them ?

 

[epebble]

correction: China is not building things to be friendly. The projects are being executed with Chinese companies, banks, materials and labor. They know exactly what they are doing. In fact they probably know a lot of these projects are going to fail.

I don't think they expect the projects to fail. It is more like they use Chinese philosophy of planned development - if you build it, they will come. Which is different from the usual idea of cost benefit analysis, return on investment etc., China is not a market economy and hence they use top-down planning rather than let the supply catch up with demand. In these planned projects, sometimes, the plan fizzles out. That is not a surprise since many private sector startups fail too. We had our famous Solyndra flameout, bridge to nowhere etc.,

 

[nahtanbob]

Are you think Chinese are that stupid to approve any borrowings for the projects without any guarantees of the host countries, its common practice of any country doing business, Chinese investments are suppose to be free eh in your mind, don't talk nonsense. India isn't building any noticeable of its crap in any foreign country.

If you build a bridge in state of Nevada the federal government does not provide a pledge. Nothing other than federal treasuries and Export Import bank loans have sovereign pledges

I don't think they expect the projects to fail. It is more like they use Chinese philosophy of planned development - if you build it, they will come. Which is different from the usual idea of cost benefit analysis, return on investment etc., China is not a market economy and hence they use top-down planning rather than let the supply catch up with demand. In these planned projects, sometimes, the plan fizzles out. That is not a surprise since many private sector startups fail too. We had our famous Solyndra flameout, bridge to nowhere etc.,

If you believe in the philosophy "if you build it, they will come" why require these pledges ?

It is amazing Karachi - a bustling metropolis of 20 million plus people gets no CPEC projects. While a shithole like Gwadar gets millions

The truth is that a lot of these Chinese projects are a bridge to nowhere.

We have our share of those projects in America

If India is building their infrastructure...

The money they spend is equal to the infrastructure they get.

Unless you are charging double or triple the actual construction cost

 

[epebble]

If the projects were not going to fail why insist on sovereign loan guarantees for the project ? why insist on keeping those details secret ?

The secret part mystifies me. I don't understand how a public project can be held under wraps when the details of the strongman's trysts with ladies gets wide publicity. Like, everyone knows everything about the wristwatch scandal, but no one has a clue on the power projects?

 

[nahtanbob]

The secret part mystifies me. I don't understand how a public project can be held under wraps when the details of the strongman's trysts with ladies gets wide publicity. Like, everyone knows everything about the wristwatch scandal, but no one has a clue on the power projects?

A bunch of things need to be hidden -- Overcharging for projects, loan terms
A lot of these projects involve bribes/young women for your local dictators/bureaucrats. You cannot disclose that

 

[my2cents]

This madness of lending and bailing out got to stop, we average Chinese tax payers have to pay for those meaningless huge foreign write-offs. This is too heavy a cost to show good will to those who can turn against you at any time.

West and India unnecessarily target you guys for debt trap. Here you have bailed out so many countries. It is good to see human side of Beijing admitting failure.