9/19/2023

China should cut losses and stay away from snakes and devils

 Sri Lanka is in the same position as Argentina, sinking deeper into the' debt trap' set by the IMF and its Western supporters. Several other countries are in the same precarious position - Egypt, Tunisia and Pakistan among them.

China, which holds just 10% of Sri Lanka's debt had been pinpointed and singled out as the cause of the economic problems in Sri Lanka. This is how warp the thinking is among the Western countries. Now the reality of the size of China's hold of Sri Lanka's debt put paid to all the fabricated narratives. They created the problem, they blame someone else for it, and the clowns hype up the lies of the rabid dogs.

We know how those debt traps are set up to destroy countries economically and making them beholden to the IMF and World Bank. Never was good intentions the motive of those World Bodies. Suffice to say, having created the mechanism to control countries with debts, and ironically they also tried to use the 'debt trap' argument to demonise China's loans to poorer countries for development. China has taken a leaf from them to extend its 'soft power' approach, and is competing with them globally with loans to poor countries, making it a thorn in the side of the West.

China must be wary of extending loans to countries deemed unfriendly, as any default by them necessitating China taking action to recover those loans, will make China look bad and gives the West the ammunition to devalue China's BRI and infrastructure expansion.

Some countries that China should do well to avoid doing business with are the Philippines and Vietnam, countries that will repay a helping hand with poisonous bites. The world still has so many other countries deserving of help besides them.

Anonymous

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