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| Africa Subsaharan |
| China writes off interest-free loans given to Zimbabwe |
| 2024-05-15 |
| [ZeroHedge] China has unexpectedly forgiven all of Zimbabwe’s debts. Estimates suggest the total amount could be as high as $10 billion. It is worth noting that the Zimbos are under sanctions, and as such are in the naughty books of the IMF and the World Bank. Lucky them as both are parasites. China has eagerly filled this niche by lending and forgiving debts. Now, before you get all giddy about those nice Chinese being all cuddly and philanthropic, realise that in the real world they’ll have cut some deals. Likely a 20-cents-on-the-dollar type of deal. In other words, something like this, “You owe us $10 billion, and can’t pay? What a shame. How about we forgive it, have a beer and oh… well, maybe let us, you know, ”look after” that port of yours over there. Yes, we know it’s worth something north of $100 billion. Don’t worry, we’ll take good care of it. Promise!” The map below indicates all of China’s investments and forgiven debts in Africa. Here’s the point worth noting. China is actively becoming the continent’s main trade and political partner. Conquest by trade was how the Inca became dominant. Not a terrible strategy. Considering that Africa is the only continent with a huge potential for development, these investments will likely pay off massively in the future. If I was a betting man, I’d say China will become the net beneficiary of all this chaos. Whether or not it is helpful to Africa remains to be seen. They’ll become subjugated — this time by China rather than the IMF, World Bank, and Western globalists. We wait to find out what it looks like before passing judgement. Talking of a world changing at breakneck speed… |
| Posted by:Skidmark |
| #5 I really want one of those. "So, we are going to make history and print the 1 Billion ZimBuck. What culturally significant marker of our society should we use for such a historic occasion?" "How about a pile of rocks?" |
| Posted by: swksvolFF 2024-05-15 17:44 |
| #4 ^ Ten of those Zimbabwe 1 billion dollar bills - worth every penny! |
| Posted by: Raj 2024-05-15 17:25 |
| #3 $10 Billion. Wonder what they got for it? |
| Posted by: swksvolFF 2024-05-15 17:15 |
| #2 "Not worth the effort, and we got other problems." |
| Posted by: ed in texas 2024-05-15 16:24 |
| #1 How bad can it be there when the Chinese write off a loan? |
| Posted by: NoMoreBS 2024-05-15 14:15 |