Who’s trapping poor countries in debt?

[etylo]

https://twitter.com/x/status/1703665833376207112

 

[Cash GK]

West with thir tools likes of imf world bank UN

 

[etylo]

Indian and some other morons on the PDF always blame on the developing countries' external debts on China as its "debt traps" just to slander China, lol, see what your Indian expert has to say about the matter in the chart.

 

[my2cents]

Indian and some other morons on the PDF always blame on the developing countries' external debts on China as its "debt traps" just to slander China, lol, see what your Indian expert has to say about the matter in the chart.

Let the data speak for itself. No sayers have to counter with data if they are to be taken seriously.

 

[Kuru]

I remember how those multilateral financial institutions forced Lanka to give up the Hambantota Port to them. Those are the real sharks.

China, on the other hand, provide interest free loans to friendly countries and has never taken over any state asset in return. China is Allah’s boon to poor countries.

 

[my2cents]

I remember how those multilateral financial institutions forced Lanka to give up the Hambantota Port to them. Those are the real sharks.

China, on the other hand, provide interest free loans to friendly countries and has never taken over any state asset in return. China is Allah’s boon to poor countries.

Is it China's fault, if countries like Sri Lanka accept these loan terms and then complain.

 

[Kuru]

Is it China's fault, if countries like Sri Lanka accept these loan terms and then complain.

Not at all China’s fault.

If China accounts for only 10% of the global debt to developing countries (as per the fancy chart in the tweet - shared by an Indian with western source!) and was able to acquire Lankan port (something those multilateral institutions couldn’t do even after accounting for 90% of the global debt), then it’s Lanka’s fault really.

 

[my2cents]

Not at all China’s fault.

If China accounts for only 10% of the global debt to developing countries (as per the fancy chart in the tweet - shared by an Indian with western source!) and was able to acquire Lankan port (something those multilateral institutions couldn’t do even after accounting for 90% of the global debt), then it’s Lanka’s fault really.

Yes, it is Lanka's fault 100℅. Blame their leaders.

 

[AViet]

Let the data speak for itself. No sayers have to counter with data if they are to be taken seriously.

Most do not have any data to blame China, aside from Western sources, which are usually fake or distorted.

 

[Menthol]

The truth is...

Incompetent local leaders, stupid local economists, corruptors, and lazy people.

Those are the main criminals who are trapping their country into a debt trap.


Without debt, what are you going to do to build your country?

Look at Sri Lanka, during the last day of economic collapse, no country is willingly to lend them money (in USD), so the country economy collapse.


The creditors are also playing a role as well.

Because they are willing to lend some money to incompetent countries... in the name of aid, giving a chance for incompetent countries to be rich and developed one day.

 

[epebble]

The truth is...

Incompetent local leaders, stupid local economists, corruptors, and lazy people.

Those are the main criminals who are trapping their country into a debt trap.


Without debt, what are you going to do to build your country?

Look at Sri Lanka, during the last day of economic collapse, no country is willingly to lend them money (in USD), so the country economy collapse.


The creditors are also playing a role as well.

Because they are willing to lend some money to incompetent countries... in the name of aid, giving a chance for incompetent countries to be rich and developed one day.

Truth is, without loans, many dysfunctional nations won't be able to feed themselves. The guy who created the chart should also create a chart of number of people who have died due to famine and malnutrition. He will realize that the 'trap laying' lenders have saved the lives of millions of people who would be dead due to famine, starvation, malnourishment and disease.

Famine mortality over the long run

Recently, we published a comprehensive dataset of famine mortality over the last 150 years – the outcome of several months’ work that brings together a range of sources on particular famines into one place. In this post we show that, despite the uncertainty that surrounds mortality estimates for...

ourworldindata.org

 

[dbc]

external debts on China as its "debt traps" just to slander

Well this is great news for countries like Pakistan, Ethiopia , Sri Lanka and they rest. Since nothing is owed to China according to you these nations can stop all repayments to China Immediately.

 

[Azadkashmir]

rothschild the money profits not prophets. then you got scum like sharifs, munir, bajwas ppl who have small brains when they can mint their own currency and move to barter system.

 

[etylo]

Well this is great news for countries like Pakistan, Ethiopia , Sri Lanka and they rest. Since nothing is owed to China according to you these nations can stop all repayments to China Immediately.

When did I say these countries owe nothing to China, its the overwhelming majority of their debts are from the West. Dont twist things around.

 

[ziaulislam]

Not at all China’s fault.

If China accounts for only 10% of the global debt to developing countries (as per the fancy chart in the tweet - shared by an Indian with western source!) and was able to acquire Lankan port (something those multilateral institutions couldn’t do even after accounting for 90% of the global debt), then it’s Lanka’s fault really.

The issue is lack of transparency
There is no competitive bidding with Chinese loans ..it has to be Chinese company

There is also no audit or Pc1 about the feasibility of the project

Example is srilankan port and Pakistani 3 b$ orange train, sahiwal coal plants

Sure it's not chinese fault but they can't wash their hands either