China Is Granting Easy Loans to African Countries to Bankrupt Them And Use Their Debt to Capture Their Resources and Governments

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Secret talks are underway for a Chinese company to takeover ZESCO, an electricity company in Zambia. This is because the country has fallen into debt, and China is seizing government assets for repayment. This is an increasingly visible strategy whereby China encourages excess government indebtedness and then, when it cannot repay, takes over strategic national resources and assets. Zambia’s formerly state-owned TV and radio news channel ZNBC already is Chinese-owned. The IMF is criticizing these actions but, ironically, it was the IMF itself, along with international companies headquartered in the West, that pioneered this tactic of national plunder decades ago. –GEG

The publication Africa Confidential has revealed that secret talks are underway for a Chinese company to takeover ZESCO. This is yet another instance of Zambia handing over sovereignty to the Chinese, putting us in a dubious position should we default on loans, leaving the Chinese to seize government assets.

In a report titled ‘Bonds, bills and ever bigger debts’ published on September 3, Africa Confidential observed that ZNBC was already being run by the Chinese.

“A major worry of the IMF and US is that China’s BRI strategy is first to encourage indebtedness, and then to take over strategic national assets when debtors default on repayments. The state electricity company ZESCO is already in talks about a takeover by a Chinese company, AC has learned. The state-owned TV and radio news channel ZNBC is already Chinese-owned. The long-term outcome could be effective Chinese ownership of the commanding heights of the economy and potentially the biggest loss of national sovereignty since independence,” the report read.

There are serious concerns that the Zambian government has indeed underplayed the amount of Chinese debt we have, which if released would be shocking to all Zambians.

In the article, Africa Confidential reiterates the IMF’s concerns that Zambia has ruined its finances by getting into financial difficulties thanks to over use of Chinese debt, especially for overprices and poorly carried out infrastructure projects.

The Americans have branded China’s ‘loans’ to Africa has predatory and part of a wider scheme to ‘debt-trap’ African nations – thus allowing them to control them.

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Ronald Blewett
Ronald Blewett
4 years ago

“A major worry of the IMF and US is that China’s BRI strategy is first to encourage indebtedness, and then to take over strategic national assets when debtors default on repayments.” is this author kidding, this is right out of the western banking system playbook, the latest rape victim by the IMF and ECB being Greece, China however doesnt typically mess about or meddle in a countries political situation, unlike the US, UK, and the EU, with the coercion of the military/industrial complex

Tom Ball
Tom Ball
4 years ago

So what about the Trillion plus that the US owes China already?
https://www.investopedia.com/articles/investing/080615/china-owns-us-debt-how-much.asp

What’s THAT supposed to do?
Would the IMF have any idea?

mary
mary
4 years ago

Is this an onion article, with the imf “concerns” and American’s saying Chinese loans are predatory? They ought to know. Just one gang getting mad that another has learned from them.

DocNo
DocNo
4 years ago

A loan is to earn interest and whatever happens upon economic changes. Every loan demands a collateral whether it’s a real estate property or a country’s sovereignty. You are accusing China of entrapment on Africa; thus, you better have solid evidence before perpetrating an economic propaganda. The Rothschilds have been holding three-quarter of the world’s countries’ sovereignty on war loans that they have engineered during the past three hundred years. The Ashkenazi Dynasty is the globe’s utmost war engineer and drug, weapons, and human trafficking profiteer.