Hong Kong CNN — Developing countries owe Chinese lenders at least $1.1 trillion dollars, according to a new data analysis published Monday, which says more than half of the thousands of loans China has doled out over two decades are due as many borrowers struggle financially.
Chinas about to learn a very hard lesson about doing business with unstable economies.
Not really. These countries are still economically dependent on China, so when they default on their loans, they offer China very lucrative ownership deals on their profitable exports, further engraving their relationships and China’s control.
We saw this happen in Sri Lanka, which was a huge win for China 5 years ago: https://www.thenationalnews.com/world/asia/sri-lanka-hands-over-port-to-china-to-pay-off-debt-1.684606
Hey! I remember you from Reddit. Loved playing 2009scape back in the day before they merged servers and reset my progress, lol.
Yes, Reddit is dead to me
I’m sorry to hear about your progress reset :+. 2009scape is in a much better place now, but the save migration was done suboptimally…
Check out !runescape@lemmy.ml btw if you haven’t already!
Like Indonesia who put their state budget as collateral for a loan to make their HSR. Didn’t see a good ending for that thing.