Developing countries owe China at least $1.1 trillion – and the debts are due
Developing countries owe China at least $1.1 trillion – and the debts are due
www.cnn.com
Developing countries owe China at least $1.1 trillion – and the debts are due | CNN Business
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.
This is exactly what China was hoping for. Either they got their money back with some interest, which is a zero win really, or China got to go after all the stuff they couldn't have gotten to without armed conflict.
Sorta like how your bookie is cool lending you 10k to bet on some sure thing, and when you lose and don't have the 10k? Then he's reluctantly ok with taking possession of your 20k car in exchange for only breaking your fingers.
If anybody is about to learn a lesson it's the developing countries, and the lesson? pay up or drop your pants and bend over
Some people are into that ;)
And the IMF does what that's different from that?
Btw, how much money has China wiped from countries debt ledgers in the past?
Can you explain how the example above is similar to what the IMF does?
They can both be bad you know