Skip to main content

CHINA'S "LONG TERM COLLATERISATION" OF LOANS: Strategy & Her Disguised Re-colonization Of African Countries Economically

Nigeria, China MoU will create new opportunities for both countries – Chinese Consul General
After Britain had collateralized Chinese aids and guarantees with Hong Kong for 99 years,  China has gained more experience than any country on earth on the intricacies of long term collaterisation of assets.

Examples are below:

The Philippines this year canceled all Chinese aids. The president was in Isreal last week for a new partnership in arms.

Malaysia canceled Chinese speed train loan contract this year and opted for a costlier Japanese electromagnetic rail. Because all Chinese grants require collateral with state critical assets.

Singapore bluntly told China we don't need your 25 years tenure loan at 0.5%.
Greece handed China a national asset last year on default, and the European Union took measures to stop any further member country from Chinese loans.

Zimbabwe is the second African country to default and will soon hand over a national asset.

Lamu port in Kenya, which was constructed by China on a Chinese loan of $16 billion, will see Kenya default in 3 years time and the biggest port in east Africa and adjoining towns will be handed over to China for 99 years.  

Kindly note that in all these loans, no single dollar cash was handed over to the countries involved. In all cases, China will execute & build the projects (as is being done in our Abuja metro line project), using Chinese materials,  equipment, technicians, etc that are all imported from China.

But you owe and they patiently work underground for your default to pay back the loan, through their crafty manipulation and sabotage of your economy. After 15-25 years, they repossess your assets and now determine for the next 75 years your import rates (in case of Kenya) or rail charges (in case of Abuja Nigeria)

In Nigeria: both the current FCT minister and Governor el Rufai of Kaduna who traveled with Buhari to China a few days ago, have sent word that they will spend extra days in China to sign off such rail financing loan agreements with China.

Comments

Post a Comment

Popular posts from this blog

OBOREVWORI: How Not To Glorify A 'One Chance' Governor - By Zik Gbemre

It is appalling how, in desperation to sustain its thieving hegemony over the Delta State Government since 1999, the Delta PDP had the audacity to impose the weakest, most uninformed contender, a local champion, as Governor over a state replete with accomplished men and women of immense capacity. Given this unenviable privilege, one would have expected the fortunate placeholder governor, Sheriff Oborevwori—whose only election campaign manifesto was pledging to improve on the failed leadership of Ifeanyi Okowa, his predecessor—to engage creative minds and individuals of proven integrity to assist him in making a difference. Rather than doing the needful, Oborevwori has worsened matters by electing to engage the same spent leaders, deadwood, and gluttons that have gained prominence in running the state down over successive administrations. The result has been a government of mediocre officeholders competing to run the state for their pockets at the detriment of the populace, under a gove...
Post a Comment
Read more

EDO GUBER ELECTION: Omo-Agege, Faith Majemite, Others Appointed Into APC National Campaign Council

Ahead of the September 21 governorship election in Edo State, the National Working Committee of the All Progressives Congress (APC) unveiled a 197-member council on Wednesday to lead its campaign. According to the list released by APC National Organising Secretary, Sulaiman Argungu, Cross River State Governor Bassey Otu has been appointed as the chairman of the campaign council. Governor Otu will be supported by Katsina State Governor Dikko Radda as co-chairman and former Edo State Governor Adams Oshiomhole as deputy chairman. Other members of the 197-member team include Senator Ovie Omo-Agege, who will serve as Assistant Secretary; Senate President Godswill Akpabio; Speaker of the House of Representatives, Tajudeen Abbas; Minister of Aviation, Festus Keyamo; Ogun State Governor, Dapo Abiodun; Lagos State Governor, Babajide Sanwo-Olu; Hon. Faith Majemite; and other governors elected on the APC platform. The recently reinstated Deputy Governor of Edo, Philip Shaibu, who recently defecte...
Post a Comment
Read more

THE ENDURING LEGACY OF LEADERSHIP: Chief James Ibori Celebrated for His Impact on Delta State

On Friday, May 31st, during the funeral service for the Late Asagba of Asaba, the essence of true leadership was vividly displayed. The service featured the introduction of various dignitaries, including Senator George Akume, Secretary to the Government of the Federation who represented President Bola Tinubu, Governor Sheriff Oborevwori, Governor Godwin Obaseki, and Former Governor Ifeanyi Okowa. As each dignitary was introduced, the church remained silent. However, the atmosphere dramatically changed when the name of Former Governor James Ibori was announced; the congregation erupted in wide jubilation and applause. This reaction was so profound that even Senator George Akume and Governor Obaseki could not hide their astonishment. The enthusiastic reception for Chief James Ibori during this solemn occasion highlighted his enduring legacy among the people of Delta State. Despite having left office seventeen years ago, he continues to be celebrated whenever he attends public functions i...
Post a Comment
Read more