China's Xi promises $50 billion for Africa over next three years

And “easy payments” for the rest of your lives.

And if you can’t pay the loan, no problem! The CCP will happily take a 99 year lease on your mineral rights/deep water ports/ infrastructure etc. With contracts given to Chinese firms to suck them dry, er…. “Run them”.

John, I couldn’t agree with you more. Going one step further, the minerals they hold hostage will be used on the rest of the world. If Mandela was still alive China would have little hope.

When China comes to Africa they invest. When the USA comes to Africa they complain about China.

There is no surprise that 50 heads of state visited Beijing for this important triennial meeting. 中非合作萬歲.

When China comes to Africa they invest. 

If by “invest” you mean “steal”, then yes. There’s Chinese “investment” all over Africa.

Just look at the “Bribe and leverage” er…”Belt and road” initiative. Big “investment” followed by strategic asset disgorgement.

Nope, no graft, corruption or appropriation there!

And none of that Lilly-levered insistence on transparency, anti-corruption or human rights either. No wonder African dictators love them som Pooh bear.

And none of that Lilly-levered insistence on transparency, anti-corruption or human rights.

And when did the Americans bringing up those issues during their dirty anti communist interferences (60s-80s) in Latin America ?

The CCP will take a 99 year lease on your mineral rights/deep water ports/ infrastructure etc

Well you should know the PRC is not a charity organization. And those countries were happy voluntarily to grant those places to China. Can you blame "XI" for their own failures?

China does these “investments” to put these countries in financial and political debt to them.

Considering the Chinese economy is crashing and unemployment at record highs, seems like it would be better for China to invest its money in China. Xi cares more about global power than it’s own peoples well being.

History would suggest colonialism, slavery and war.

What does the west bring????

Even when China was poor back in the late 1980s dozens of Africans were given scholarships to study at the university I was teaching at in Beijing. China-Africa solidarity has a strong foundation.

Chinese money always comes with a heavy tab.

The African countries leaders, they just hates the West, the slave traders and decades of ignoring. China is not a European country or white people country. We are not racism like the British colonialism or as arrogance as the Americans, that's why they like to work with China!

By the way, when Israel is daily Onslow the Palestinians has angered many African countries, that's why they hates the Western hypocrisy and pro-China to express their frustration !

Israel's daily onslaught on Palestinians was why African leaders hate the West !

It is a debt trap. That is the Chinese way for dominance. Still preferable to US military interventionism, afaic.

And if you can’t pay the loan, no problem! The CCP will happily take a 99 year lease on your mineral rights/deep water ports/ infrastructure etc.

Can you provide examples of the Chinese actually seizing African assets like this? Economists who've studied this issue have concluded that the debt-trap narrative is simply a myth. Logically, if one of these African states were to simply kick out the Chinese without paying, there is very little the Chinese could ever do.

The reality is that these engineering projects are a way of creating demand and subsidising Chinese firms, similar to the way that US military aid is a subsidy to US defence contractors. When African states fail to pay, the Chinese just keep restructuring the loans indefinitely.

elephant200

Israel's daily onslaught on Palestinians was why African leaders hate the West !

I would think the vast majority of Africans have enough of problems closer to home that have more priority than obsessing about a Middle East conflict.

justasking

If Mandela was still alive China would have little hope.

How exactly? Mandela was not in charge of all of Africa.

Africans just love unsustainable debts...and massive and increasing trade deficits.

https://cdn.statcdn.com/Infographic/images/normal/27880.jpeg

https://adf-magazine.com/2023/06/as-chinese-loans-come-due-african-borrowers-face-economic-midnight/

It's working out really well for them too. They get the money, Chinese workers move in to do the work, the dictators gets a big cut, all good, until time to pay back. Then they blame the west for imperialism...LOL.

Rinse, repeat...over and over. Poor Rural Chinese loose, Africans loose. Dictators wins.

Xi promises... and XI will deliver.

Now, the thing is that money either would be tight to be use only for chinese companies operating in the country or lended under the premise of heavy interest/lending land ad infinitum/selling resources exclusively to China (or at a very low price), etc... and in case of inability to pay back China will take over.

at the end there is only a Merry Xi'man and a happy CCP

China-Africa solidarity has a strong foundation.

Oui, common dictatorships.

If by “invest” you mean “steal”, then yes. There’s Chinese “investment” all over Africa.

Yes, it is a travesty that China does not give these $50 billion loans to Africa for free. If China doesn't provide free capital and build using only local labor who have plenty of experience building infrastructure, it is indeed equivalent to stealing.

Another sour grape sob story. Banks "steal" foreclosed houses all the time. China builds it for you, leases your infrastructure and then pays you and you own the infrastructure which benefits the public. What is the West doing in Niger and Africa?

if one of these African states were to simply kick out the Chinese without paying, there is very little the Chinese could ever do.

As if $50 billion loans have no risks whatsoever. What he's saying China has so much cash they can blow $50 billion easily.

China helps in nation building through financial aids (just like what Japan used to do)... On the other hand, the west, headed by the US, will destroy any government that gets in their way (all in the name of freedom and capitalism)...

Can you provide examples of the Chinese actually seizing African assets like this? Economists who've studied this issue have concluded that the debt-trap narrative is simply a myth

There is no nation on earth not even USA (or especially western world) that wants to prove this debt trap thesis. Because it means the IMF, World bank will then have to step in, and more money will flow to China. Everyone is saying Sri Lanka's Hambantota port is not a debt trap, but if quack like one, smells like one, walks like one, it's a debt trap.

What China does is let sovereign debt project roll into a private entity, then China takes over the 'entity' as a/with a lease, with the lease payments used to pay back the debt to China. It looks like China has not seized the asset at all, in fact it looks like China leased it...but the asset ends up in Chinese control regardless. This is happening all over Africa.

That's a lot of buildings with microphones and infrastructure for China to pretend to own until the next coup.

China brings investments, What does the west bring????

OK but how on earth does Chinese investments end up looking like this?

https://oec.world/en/profile/bilateral-country/chn/partner/ken

A big Chinese ball and chain that African nations would do well to avoid like the plague. There are other less risky and less costly ways to improve their nations infrastructure.

Those African leaders are rubbing their hands together thinking about how much of that money they're going to siphon off to put in their Swiss bank accounts!

...but the asset ends up in Chinese control regardless. This is happening all over Africa.

OK. And if the Africans aren't happy with China retaining any ownership or control in these projects, what stops them from nationalising the entire thing and kicking out all the Chinese? Nothing. China can't take back the highways and ports they've built. There is no ball and chain.

These projects are a way for China to keep their own economy growing by finding new demand for its outputs.

That's a lot of buildings with microphones and infrastructure for China to pretend to own until the next coup.

Exactly. If a coup happens, China never gets repaid. But China doesn't actually expect to be fully repaid anyway. The payoff is the jobs and economic growth within China during the construction phase of the project.

Ah, yes, the old trope about African leaders all being corrupt. Do the poor Africans still live in grass huts too?

Those African leaders are rubbing their hands together thinking about how much of that money they're going to siphon off to put in their Swiss bank accounts!

Look at the demographics and Africa is the next growth zone. Mock it as you like.

China make a road the new 6 km road entering to the city in just 6 months... but the very next day the road was innagurated there were already wholes and 3 months later the road was impossible to ride on.... the cityhall had to ask for help to the Spanish govenrment to rebuild the same road and those works took almost 2 years... but now the road is fine.

But the another road that Japan build 10 years ago is way better and it hasn't have a crack until now...

.....that was some of my counterparts in Blantire, Malawi told me (10 years ago).

China built a new train lilne including a brdige... the first heavy rain after the bridge was done the entire bridge collapsed and the entire train line was closed. Now the goverment ask to rebuid the same bridge and reopen the train line. But again with a Chinise loan.. The works are slow and nothing is being done... but the debt keeps up. Those people in the government are corrupt and the chinese are horrible, they only bring chines contractors and chinese workers, who live in a closed coumpound and don't contract any locals...

Cooperation form other countries always contracts local staff and companies, they not only build but teach us how to build and managed... Chinese they don't share nothing and are abusive.

.... again some comments i heard from my counterparts in Nairobi, Kenya.... (11 years ago)

I think the situation has not change much.

There are other less risky and less costly ways to improve their nations infrastructure.

Yes, like getting loans from the IMF and World Bank and be indebted to them with no infrastructure or anything to show it but just the debt?

Then have the IMF and the World bank reach out to China to restructure your debt and fall into the Chinese debt trap?

The mentality that you can get a loan from a bank, buy a house, not make payments, keep the house, live in it and be discharged from your debt belongs in an institution.

These projects are a way for China to keep their own economy growing by finding new demand for its outputs.

The concept of getting something out of deal, a win win situation, seems to be negative in some cultures. You are expected to perform charities and just give them the money and let the royal families and high officials pocket them and live lavish corrupt lives.

Those African leaders are rubbing their hands together thinking about how much of that money they're going to siphon off to put in their Swiss bank accounts!

No, the money goes to pay for construction materials, their transportation, and labor costs. Loans come with risks to begin with. I am sure you are aware of that.

.. again some comments i heard from my counterparts in Nairobi, Kenya.... (11 years ago)

I don't doubt your story. That said, China has built over 100 ports and 10,000 km of railway in Africa. African countries are trying to keep up with each other in new projects. These are not cash loans. They are contracted to build.

A big Chinese ball and chain that African nations would do well to avoid like the plague. 

Almost all of the debt in developing countries, over 90%, are in the hands of Western countries, who do not want to share the debt trapping opportunities with China.

well.. you may doubt it, but the reality does not change... I was there, I saw the fallen bridge (it was on the news then, Kenyan national network though).

Doubt it, deny it.. but the truth was what I saw and what people experienced there

@Daniel Neagari

I wrote I do not doubt your story.

I have seen collapses of roads and sink holes myself. There are also shoddy contractors that cut corners.

@deanzaZZR LoL! My homeland in Africa is ranked 83 on the Corruption Perceptions Index 2023, so I happen to know a little bit about it! Denmark is top and Somalia is last!

China make a road the new 6 km road entering to the city in just 6 months... but the very next day the road was innagurated there were already wholes and 3 months later the road was impossible to ride on.... the cityhall had to ask for help to the Spanish govenrment to rebuild the same road and those works took almost 2 years... but now the road is fine.

But the another road that Japan build 10 years ago is way better and it hasn't have a crack until now...

In general, Japanese products and construction are of high quality. The problem is the bidding and the price points Japan works with removes them from the competition.

Indonesia chose China over Japan in their high speed railway project connecting urban cities. I have no doubt Japan could have built an equally good high speed railway as the one China built if not a better one. Japan usually takes longer and costs more. The tradeoff is in the price tag. Both China and Japan build without any political strings attached unlike the West.

The works are slow and nothing is being done... but the debt keeps up. Those people in the government are corrupt and the chinese are horrible, they only bring chines contractors and chinese workers, who live in a closed coumpound and don't contract any locals...

In my experience with corrupt and horrible Chinese are not the people in the government but smaller companies with opportunities characters. As for only bringing in Chinese workers, who is going to train the builders and pay for that?

The swiftness and efficiency of working with your own people who are experienced in building hundreds of projects and who can communicate in a common language, is the way to go. The interpreting and gesturing over bad English accents is not what I would recommend. You can speak into your smartphone and get an audio translation of any language today but that's suitable at a market or fruit stand, not at a construction site for a hydropower project.

Cooperation form other countries always contracts local staff and companies, they not only build but teach us how to build and managed... Chinese they don't share nothing and are abusive.

The Chinese contractors has to work with local officials and staff. It is not like they go into a country with zero interaction with the people on the ground.

You have a point about sharing technology. It is similar to ramen shops in Japan. They are not going to tell you or teach you their recipe for their soup. Chinese do tend to guard their know how but that depends.

Chinese they don't share nothing and are abusive.

The way of communication can come across as angry and shouting. It looks like your experience with Chinese companies have been negative. Japan definitely wins in the customer service and after service care. That said, it's all about the price.

Get ready for China to own all of the important real estate, ports, infrastructure and industrial facilities in Africa in the coming years. Once the African nations default, repossession kicks in.

When that happens it will be interesting if Africans will still blame the West for all their ills - as seems to happen now?

@quercetum

Again, those were not my words but what my counterparts told me... if anything I was in the "teaching" side... my counterparts had worked in several projects with different organizations from different countries (including China)... sooo if you what to change the opinion of someone, begun with them...

As for Jakarta RMT.... since its not the matter of this article I won't say much. Just that I know what happen there the "official" justification is as you said, Japan bid took more time and was more expensive... but the real reason was another, a very serious reason, you could say to the level of "diplomatic impasse"...

Fighto.

Your country has already been sold to the West. So you better look for a new place to live.

.. I always wonder... from whos side people said "to the West"... because in that case Chine is the West from the point of view of several countries.... So in the case of Japan, Taiwan, Korea yes we have beein heavily influenced by the "West" historically speaking.

also... from Chine's point of view, Australia is an East country and the the US is far east....

That terminology is sooo of a colonialist influenced... is Chine influenced heavilly by the "West" so much???

Also addressing the meeting, U.N. chief Guterres told African leaders that growing ties between China and the continent could "drive the renewable energy revolution".

"China's remarkable record of development -- including on eradicating poverty -– provides a wealth of experience and expertise," he said.

Accurate words by the UN Sec-Gen.

The neo-colonialist west just doesn't get it. They spent decades in the post war period crushing independence movements and engaging with Apartheid SA.

On the contrary, China supported the freedom struggles of many of the very countries sitting at that meeting.

To assert otherwise is the height of post-imperial arrogance from the unipolar whip crackers.

Chinese leader Xi Jinping is not offering Aerian any favours, or charitable investment packages.

As Professor Shirley Ze Yu states $43.39 billion in Chinese foreign direct investment (by stock) in Africa in 2020

China imports massive quantities of vital natural resources from sub-Saharan Africa. These include oil, liquefied natural gas, timber, gold and copper, uranium, and precious base metals such as cobalt and lithium. Yet, in the public domain, we rarely identify how much of the Chinese trades are pure product imports vs. equity investments and offtakes.

What is China’s investment end game in Africa?

https://blogs.lse.ac.uk/africaatlse/2022/11/04/what-is-chinas-investment-end-game-in-africa/

A fair and balanced blog from Professor Shirley Ze Yu

In addition to the 50 or so African leaders attending the conference United Nations General Secretary António Guterres was in attendance as well.

If we are sharing links that nobody will check out the one I would suggest is The China Global South Project which is a great source presenting a variety of perspectives. I listen to their podcast weekly which includes a diversity of voices many from Africa. https://chinaglobalsouth.com/

if you search for the word "neocoloniallism" you will find some countries accuse of it.. ofcouse the US is there but also, China.... two neocoloniasist trying to neocolonize the World and acuusing of neocolonizing eachother.

OK. And if the Africans aren't happy with China retaining any ownership or control in these projects, what stops them from nationalising the entire thing and kicking out all the Chinese?

Because normal Africans aren't in power. Dictators are in power, and they are rewarded nicely before, during, and after. Isn't that obvious?

The China Global South Project

Yeah but the China global south projects does not include ordinary Africans or ordinary Chinese depositors.

https://www.thestandard.com.hk/breaking-news/section/3/217102/Chinese-who-lost-money-in-bank-fraud-detained-for-months-after-protest

Indonesia chose China over Japan in their high speed railway project...PRICE POINT

LOL, ROTFL...I was personally involved with the Indo project. China won by picking a price out of their rear orificie and having NO personnel on the ground. How is this possible? Huawei spying on Japanese tender.

After they won, they then complain they could not build for the price they tendered and delays, excuses, and delay....

https://www.quora.com/Why-has-the-China-backed-Whoosh-high-speed-railway-in-Indonesia-been-delayed-for-so-long

Amazing....adults presumably not brain damage can utter stuff like that...

The African leaders doesn't mind the heavy tab or clause to get the loans because that is future generations to pay back. They hates the West, US, E.U. were racist enough, they want to show their frustrations at the western countries and were very happily to work with China. At least the Chinese were not practicing racism.

For China and Africa, we are all the oppressors of western colonialism, Britain exporting opium to China for 100 years, we should let the African leaders know this part of history and only China is giving them a hope !

As others have pointed out, Xi's "financing" is not the same as foreign aid, and can be a death knell for the economies of the loan recipients.

Because normal Africans aren't in power. Dictators are in power, they are rewarded nicely before, during, and after.

This is also exist in Japanese playbook, The Japanese govt. give sweets to Mynamar junta as well. So don't blame China with all the faults. Everyone is as dirty as well !

They really must swim in money and not have any problems with own 20% unemployed youth and shrinking population when coming up with such an idea. They could also have thrown away and sunken all the 50bln. in nearby South China Sea, which would still be cheaper than burning it such far away.

Obviously the 50 African leaders that attended the meeting don't agree with the majority of commentators on this site.

The West had its chance to build those ports and railways but brought in their military instead. As a result they are now being kicked out. Good riddance.

elephant200Today 03:34 pm JST

The African countries leaders, they just hates the West

SeigiToday 04:13 pm JST

the west, headed by the US, will destroy any government that gets in their way

Tough to choose between these two in the award for "most ridiculous generalization of the day."

We are not racism like the British colonialism or as arrogance as the Americans, that's why they like to work with China!

There is plenty of racism toward Africans in China. One very quick overview out of countless instances.

https://www.hrw.org/news/2021/02/18/covid-blackface-tv-chinas-racism-problem-runs-deep

deanzaZZRToday 02:43 pm JST

When China comes to Africa they invest.

No, China makes promises to invest. Many of these promises are empty and don't come to fruition, or come with huge strings attached, or don't deliver what was originally promised.

Ah, yes, the old trope about African leaders all being corrupt.

No, not all of them. But some undoubtedly are, and the more corrupt the better for China.

The West had its chance to build those ports and railways but brought in their military instead

You either need a good calendar or better reading glasses. The western institutions has lending standards, China doesn't.

But don't worry, the first port of call when things go pear shape will be the western institutions....

quercetumToday 04:01 pm JST

China builds it for you, leases your infrastructure and then pays you and you own the infrastructure which benefits the public.

It doesn't benefit the public if the deal was done under the table, saddling the country with debt that is off the books. Standard practice for China, as you are no doubt aware.

And it doesn't benefit the public if it's a half-finished rail line or road, or finished infrastructure that is unprofitable because it was vastly overpriced and no proper feasibility surveys were done.

Just like Kenya's standard gauge railway:

https://www.thecitizen.co.tz/tanzania/news/east-africa-news/bloated-costs-and-other-shady-moves-behind-kenya-s-sgr-deal-secrecy-4016752

Ethiopia's light rail:

https://www.msn.com/en-us/money/other/a-crumbling-metro-reveals-failed-promise-of-china-s-billions-in-africa/ar-BB1luZvf

Uganda's Kampala-Entebbe Espressway - the world's most expensive road:

https://thestandard.co.ug/2023/12/17/meet-kampala-entebbe-expressway-worlds-most-expensive-road/

etc. etc. etc.

M3M3M3Today 04:49 pm JST

China can't take back the highways and ports they've built. There is no ball and chain.

The countries are still indebted to China for years afterwards. And the debt is even worse if the infrastructure itself is unprofitable, as mentioned above.

quercetumToday 05:53 pm JST

Indonesia chose China over Japan in their high speed railway project connecting urban cities. I have no doubt Japan could have built an equally good high speed railway as the one China built if not a better one. Japan usually takes longer and costs more. The tradeoff is in the price tag.

And what actually happened with this?

China bid lower ($5.1B) than Japan ($6.2B), and China got the contract. Then it ran over budget and ended up costing a lot MORE than Japan's bid, eventually reaching $7.27B. And the project won't even be profitable for decades (if ever):

https://asiatimes.com/2023/10/indonesias-belt-and-road-train-off-to-an-uneconomic-start/

This is also exist in Japanese playbook

Japan lead the ADB, I am not aware of the ADB being involved in such predatory behaviour, please provide source.

Excellent, well done China..

Bringing peace, cooperation, development and better future for the world..

New world order is coming soon..

Bad news for Chinese taxpayers. Free money for corrupt regimes. Lots of debt that will eventually be defaulted on. China hasn't learned from getting stung in South America.

Bad news for Chinese taxpayers. Free money for corrupt regimes. Lots of debt that will eventually be defaulted on. China hasn't learned from getting stung in South America.

I think if you are going to worry about the taxpayer money, you better look closer into your own money poured into the Israeli pockets to kill Palestinians.

I see the China hate is strong among westerners as they see things are changing not in their favor.

It is very fair, if these countries cannot pay back the debts, they have to give up some places of their country as compensation. They knew these clauses and voluntarily to signup. It is good to get a loan and try a luck rather than doing nothing. Those are the future problems for their grandchildren and leave it to them.

The African countries were very grateful to China indeed !

No country in Africa has supported the Western sanctions on China or Russia, nor have they supported Israel's war in Gaza or sent weapons to Ukraine. No surprise they are in China making deals to help their own people.

elephant200Today 01:43 am JST

It is very fair, if these countries cannot pay back the debts, they have to give up some places of their country as compensation.

That the Russian Aggression with Chinese Characteristics?

They knew these clauses and voluntarily to signup.

Yes the immortal words of the loan shark.

It is good to get a loan and try a luck rather than doing nothing.

No, offering loans when you know they can't pay them back is worse than doing nothing.

Those are the future problems for their grandchildren and leave it to them.

The African countries were very grateful to China indeed !

Only until they see their country being sold off and take matters into their own hands.

happyhereToday 01:59 am JST

No country in Africa has supported the Western sanctions on China or Russia, nor have they supported Israel's war in Gaza or sent weapons to Ukraine. No surprise they are in China making deals to help their own people.

They are also some of the most badly governed countries in the world or are part of the religion that hates Israel.

The ADB operates in the same mold as the World Bank, bank staffs jetting around the world in business class and staying at Hiltons with wonderful per diems. Knowing someone who worked for JICA is SE Asia Japanese projects tend to be traditional infrastructure projects such as roads, energy, water treatment, etc. with Japanese companies bidding but not always winning as the bidding process is somewhat open. The final impact? Positive but limited.

They are also some of the most badly governed countries in the world or are part of the religion that hates Israel.

Africa has more christians than muslims.

Let's see how you react if jews were there to take over your land and resources. But wait we know what you did to jews for doing significantly less harm.

Kamala Harris once been to Africa to lecture her experience of promoting LBGT rights to African leaders. She was unwelcome there. No wonder why African leaders choose to work with China not U.S.

Nobody in Africa believes a single word from Harris or Blinken, they were rattlesnake!

and not have any problems with own 20% unemployed youth and shrinking population when coming up with such an idea.

You read the Economist and the BBC. Unfortunately, those are not reliable sources of information. When is China collapsing again?

Obviously the 50 African leaders that attended the meeting don't agree with the majority of commentators on this site.

Africa is getting the infrastructure to mine and develop their minerals. If they're going to to the West, then it's all fine but if a rival country has the contract, they must be sons of Satan. The West lacks morals. What is stopping the US from loaning $100 billion to African nations?

And it doesn't benefit the public if it's a half-finished rail line or road, or finished infrastructure that is unprofitable because it was vastly overpriced and no proper feasibility surveys were done.

You are missing the point. Infrastructure, such as railways, are not built for profit but for the public good. Highspeed railways in China are not built for profit. They don't make money but lose money. They're built so the public can move easily across the continent.

Xi Jinping should remind the African leaders the tragedy of George Floyd and the gross human rights violation of American law enforcement in the U.S. That incident speaks the volume of America and their worst practice of treating African lives. The Chinese government shall never do this!

> Kamala Harris once been to Africa to lecture her experience of promoting LBGT rights to African leaders. She was unwelcome there. No wonder why African leaders choose to work with China not U.S. 

Nobody in Africa believes a single word from Harris or Blinken, they were rattlesnake!

I definitely believe that.

I love how China got the contract over Japan in Indonesia and how this has led to the Chinese High Speed Railway in Laos and the Laos-China Railway with Bangkok. You're going to see highspeed railways built in Indochina enriching trade and people's lives in there along with China backed canal project in Cambodia. All these countries willing to sign up for these "debt traps" has the West fuming like a steamer in a Ding Tai Feng restaurant.

The ADB operates in the same mold as the World Bank, bank staffs jetting around the world in business class and staying at Hiltons with wonderful per diems. Knowing someone who worked for JICA is SE Asia Japanese projects tend to be traditional infrastructure projects such as roads, energy, water treatment, etc. with Japanese companies bidding but not always winning as the bidding process is somewhat open. The final impact? Positive but limited.

These useless loans from ADB, WB, and IMF cannot compete at all with China. All they can give is cash. In the end they ask Chinese banks to come and help with restructuring. China says, enough with you. Get out!

The $50 billion loans are for 30 major infrastructure projects with green energy exports from China.

Just giving money is not going to help. You have to help them build to make money.

Americans according to the British have been described as spoiled children. They cry about the sugar tax and the Stamp Act and no taxes without representation. They rebelled against the British to gain Indian land in the west. It was not just about taxes. The British prohibited the planters from claiming Indian territories which outraged them. After the creation of the US Constitution, taxes more than tripled in the former 13 colonies.

The same with these cries of debt diplomacy. This term was invented to describe what the West is doing. These cries of debt traps merely reflect their greed for more dominance. The Western countries need to be consoled. Their banks are no longer the only lenders. It's called competition.

If you lose, you are allowed to cry that it's unfair but crying alone won't up your game. Go and improve your loan terms or build infrastructure to go along with your loans.

To conclude, you have to admit, China is just a better capitalist than the West.

The US with its hegemonic position, cannot allow a country like the size of China to become independent of the system of the West because China is too big economically, and the gravitational pull it can generate will eventually destroy the US led world.