Tag Archives: loan defaults

China is killing countries…

Well…read an interesting article the other day about how China is killing many poor countries economies by lending them money for infrastructure projects that they know countries like India, Sri Lanka, and many African countries can’t afford to pay back….some of this debt service is taking up to 80% of tax revenue and that is not sustainable for any country. Because China is so secretive about their foreign aid, the IMF who would would normally step in to help restructure the loans so they don’t default can’t since the loans are structured so China gets the money first and the countries take a back seat…some of the African countries have run out of money to pay for food or fuel and people are starving to death…but that doesn’t matter to China, it is all part of their project to destabilize countries across to world to increase their influence…but some economists think that if all of the countries default and stop paying their loans, it is going to crash China’s economy, too…so who do we root for here? Anything that would put some brakes on China would be a good thing…geez…