The Chinese Communist Party (CCP), in the wake of the economic collapse triggered by the coronavirus pandemic, is ignoring debt relief calls by African countries targeted by Beijing’s predatory lending practices, a leader of a bipartisan American congressional commission suggested on Friday.
Private equity firms are reportedly using the Chinese coronavirus pandemic as an opportunity to cheaply buy up businesses, which will have a crippling impact on America’s small business owners.
A $3 billion railway that Kenya funded with enormous loans from China is making less than half of the revenue required to make payments to Chinese companies that built and now manage the project, the South China Morning Post reported Tuesday.
Uganda launched a campaign early this week to attract thousands of Chinese tourists amid concerns Beijing will seize some of the African country’s sovereign assets over its rising public debt fueled by the Asian giant’s Belt and Road Initiative.
WASHINGTON, DC — China is using its economic clout in Africa to promote a “new international order” and encourage countries to adopt its communist ideology, experts told lawmakers on Wednesday.
The debt-ridden island nation of Sri Lanka reportedly signed two Belt and Road Initiative (BRI)-linked contracts worth more than $50 million with China on Thursday amid political upheaval in the South Asian country over the appointment of a pro-Beijing premier.
Maldives President Ibrahim Mohamed Solih revealed on Monday that the island nation could not get out of its financial agreements with China despite Bejing building infrastructure projects inside the island nation at higher prices than initially quoted.
Brazil’s right-wing presidential frontrunner Jair Bolsonaro has warned that China is exerting too much influence in the country, an issue he has pledged to tackle should he be elected president later this month.
