DW: Mapping China's Global Debt-Serfdom-ification
According to research recently published by the Kiel Institute for the World Economy, there are seven countries in the world whose external loan debt to China surpasses 25 percent of their GDP. Three (Djibouti, Niger and The Republic of the Congo) are located in Africa, while four (Kyrgyztan, Laos, Cambodia and the Maldives) are in Asia.
Yet, as Statista's Katharina Buchholz notes, the world map of debt to China amassed through direct loans (excluding debt holdings and short-term trade debt) shows that a majority of countries heavily in debt to China are in Africa, but that Central Asia and Latin America follow close behind.
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WNU Editor: Here is an easy prediction. Some of these countries are going to default on these Chinese loans.What the Chinese will then do will be interesting. The Chinese are not the type of people who are willing to write-off a debt.
2 comments:
Debt is one way to expand into other countries, going to war and leaving some of your military behind is another.
The Chinese make sure the resources and infrastructure of these nations are collateral for the debt.
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