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Foreign Affairs

TexasTowelie

(117,357 posts) Thu Sep 5, 2024, 05:23 PM Sep 2024

China's Xi promises Africa over $50 billion in new funds - Reuters

President Xi Jinping pledged to step up China's support across debt-laden Africa with funding of nearly $51 billion over three years, backing for more infrastructure projects, and the creation of at least 1 million jobs.

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China's Xi promises Africa over $50 billion in new funds - Reuters (Original Post) TexasTowelie Sep 2024 OP

Chinese debt traps. Irish_Dem Sep 2024 #1

Irish_Dem

(59,154 posts)

1. Chinese debt traps.

Reply to TexasTowelie (Original post)

Thu Sep 5, 2024, 05:29 PM

Sep 2024

China loans poor countries so much money they can never pay it back.
So China owns them.

China uses the loan money to send in their own companies to these poor countries
which make a great deal of money for China.

And also strips valuable resources and minerals.

And China sends in their troops to protect it all.

In the meantime China's domestic economy gets worse and worse.

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