business

China's rust belt looks abroad as growth slows, tariffs bite

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By OLIVIA ZHANG

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"Governments including Thailand, Tanzania, Sri Lanka and Nepal have scaled back or renegotiated projects they said were too costly or gave too little work to local contractors."

Hope they are not surprised. China gives them loans and then the loans are simply subsidies for Chinese industries. As if these projects were for other countries.... They are not ODA projects, these are projects financed by China and paid for by other countries for the benefit of China.

Make no mistake about the fact that when the countries default on these infrastructure loans, China will become the defacto owner of another counties infrastructure, and will control it at will.

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