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thewayneGee, who didn't see this coming?
In 2013, China started the Silk Road Economic Belt Initiative, or One Belt One Road. Basically pretty much any country could ask China for many large buckets of money to build stuff: a superhighway across the country, a new deepwater port, power plants, etc. And China would build it.
And now it's time to pay the piper.
China is calling in the loans and showing zero compassion or debt forgiveness. Pakistan is shutting down a lot of power production, causing a large amount of its textile industry to shut down. That will do wonders for Pakistan's economy.
From the Fortune article: "In March, heavily indebted Honduras cited “financial pressures” in its decision to establish formal diplomatic ties to China and sever those with Taiwan.
Last month, Pakistan was so desperate to prevent more blackouts that it struck a deal to buy discounted oil from Russia, breaking ranks with the U.S.-led effort to shut off Vladimir Putin’s funds."
I saw this problem from the beginning. Is the USA going to bail them out, adding further to our debt, are they going to collapse into war, are they going to become non-contiguous Chinese territories? Or is it going to collapse the world economy?
Stay tuned! It's going to be a really big shew!
https://fortune.com/2023/05/18/china-belt-road-loans-pakistan-sri-lanka-africa-collapse-economic-instability/
https://slashdot.org/story/23/05/22/1439227/china-is-calling-in-loans-to-dozens-of-countries
In 2013, China started the Silk Road Economic Belt Initiative, or One Belt One Road. Basically pretty much any country could ask China for many large buckets of money to build stuff: a superhighway across the country, a new deepwater port, power plants, etc. And China would build it.
And now it's time to pay the piper.
China is calling in the loans and showing zero compassion or debt forgiveness. Pakistan is shutting down a lot of power production, causing a large amount of its textile industry to shut down. That will do wonders for Pakistan's economy.
From the Fortune article: "In March, heavily indebted Honduras cited “financial pressures” in its decision to establish formal diplomatic ties to China and sever those with Taiwan.
Last month, Pakistan was so desperate to prevent more blackouts that it struck a deal to buy discounted oil from Russia, breaking ranks with the U.S.-led effort to shut off Vladimir Putin’s funds."
I saw this problem from the beginning. Is the USA going to bail them out, adding further to our debt, are they going to collapse into war, are they going to become non-contiguous Chinese territories? Or is it going to collapse the world economy?
Stay tuned! It's going to be a really big shew!
https://fortune.com/2023/05/18/china-belt-road-loans-pakistan-sri-lanka-africa-collapse-economic-instability/
https://slashdot.org/story/23/05/22/1439227/china-is-calling-in-loans-to-dozens-of-countries
