Tanzania President cancels $10billion Chinese loan; Refers to the Terms and Conditions As One That C

[Nilgiri]

I am lying on the bed and typing with my mouse. It must have punched a lot more than required.


Lying on the bed now. Too lazy to get up to type.

Easterling is a favourite troll of mine. I like to mirror his own mirroring from time to time.

The ghetto talk stuff is his best overall though.

 

[rott]

Easterling is a favourite troll of mine. I like to mirror his own mirroring from time to time.

The ghe

Sometimes I feel bored coz most of the Chinese members here are serious types. Only for a few like me, Sinait, Greyboy, etc. We troll. I can't speak for them, but to me it's just trolling. I bait them out first. lol....

 

[Nilgiri]

They did. The previous president agreed to a deal and the current president doesnt' agreed to the deal.

This is the reason why Chinese firms wants to have more control of any long term and high cost project. You can't have new president/leader came in every some years after the project have started to make new demands. Given how much fraction between parties and how corrupted some African are, big projects won't get anywhere otherwise.

Well its natural consequence when there is not much institutional development in country to gauge things in cost benefit way purely and accurately etc (outside of politics).

Otherwise its susceptible to have its fair share of being used in the political dynamic of the country....when someone wants to differentiate on a decision of consequence of prior administration.

It doesnt seem a big deal tbh, because this is cancellation of a deal so it seems no money flowed/deployed yet (similar iirc to what Mahathir did with some real estate projects china was interested in)....as opposed to refusing to honour the terms/payback of loan or nationalising/appropriating things by force. That would of course be a domino in credit worthiness situation of Tanzania and probably larger African region....so I do not see that kind of thing happening in short or mid term.

 

[striver44]

https://twitter.com/x/status/1253609617499684865

 

[That Guy]

I don't doubt he is not happy and wants a better deal then it's given by the firm China Merchants Holdings. However is free to get another offers from any other company from any country. Neither is this firm nor is China holding a gun to his head.

However, that's not point of contention here. You made a statement as a matter of fact that "there was no way they would have been able to pay off those loans."



You made a statement without supporting facts and I want to know where you got your supporting facts from and what they are, which you still haven't been able to provide so far.

I gave you hard numbers, numbers you can fact check if you do a basic google search. All you're doing is being a contrarian.

Like I said, take it or leave it. I'm done here.

Did they have an election in between in Tanzania?

I'm pretty sure? I believe the deal was originally signed by the previous president, and when the current one came to power, he renegotiated the terms. The Chinese didn't like his offer, and he knew they wouldn't, so now the deal is dead.

 

[Baba_Yaga]

Most of these projects get awarded due to payment of millions of dollars in kickbacks(small money compared to potential profits) to politicians in power who pretty much sell off their country. When the new party comes to power, either of 2 things happen. If the new guy is just as bad as before, all that needs to be done is payment of a few million dollars more in kickbacks. On the other hand, if the guy is honest, the deal is dead.

 

[kankan326]

Having lived in Africa I know that China has exploited the endemic corruption in the African leadership to the fullest extent. It keeps all these agreements which are against the interests of the country SECRET. The Chinese LOVE their secrets and the African minister who gets a few million in his swiss account is certainly not going to be bothered. Usually its many years later that people find out how they were sold , their country sold, their interests sold.
The Chinese are seeking subservience and complete support of their nefarious designs in this example of 21st century colonisation and imperialism

Of course you take pride in your countries imperial designs. The Europeans too believed they were BENEFACTORS bringing wonderful goodies in return for running and ultimately owning these countries. They also believed in the honesty and benevolent intent of their actions.

But it was colonialism and imperialism in reality

A lot of "colony", "currupt local officials" bullshits. Is there another country who is more capabale than China in infrastructure constructions? Would India be the one? No. So whether the local government is currupt or not. China's investment is always the best choice for African countries. And the curruption problem is definitely not China's fault. China didn't vote for local leaders. Whatever the local government is, Chinese companies have to deal with it.

I wonder without China's investment who would invest in Africa in this scale? Will India or US do it? You would have done it long before if you can. Without investment natual resources is worthless, no better than sand and water. African countries can say there were cheated by China by finding a better offer from other counry. The question is: Will they find one?

 

[Viet]

Reminds me of how the British East India company operated- Seems like a copycat Model- Read through the link-A lot of similarities.

https://www.historyextra.com/period...trading-corporation-became-an-imperial-ruler/

Chinese are worse than loan sharks. In the name of peaceful rise, non western imperialism, they give you money with high interest rate. The works are carried out by chinese companies, that employ chinese workers. As well, materials come from China. The new built infra generate little revenue but huge costs. Corrupt governments accept such ridiculous contracts because of kickbacks. At the end, the people are bankrupt. The poor people become poorer.

Now with the pandemic people in Africa even have no money to pay back the interests on chinese loans.

It’s best Xi Jingping writes off 95 percent of loans to Africs.

China must write off loans to other countries in America and Asia.

Argentina is bankrupt. Venezuela is bankrupt. 80 more countries will file bankruptcy.

They can’t pay back chinese loans.