The cost of being in debt to China - BBC News
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- Опубліковано 2 тра 2022
- Billions of dollars of Chinese money are boosting some European economies - but some of the deals being struck have a catch. Critics say they are "debt traps", where China gets to choose what happens if loans aren't repaid.
China insists it is a reliable investment partner - but it is also facing allegations of worker exploitation and environmental damage.
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#BBCNews
A man learns from his mistake.
But a wise learn from mistakes of others.
Otto Von Bismarck plagiarism detected.
@@dancingdanny8811 beyond doubt people like Madeline Albright and Hillary kill democracy by foreign policy coup
obama and Smith-Mundt Act in 2012/2013 which legalized propaganda by US government to be used ON the US people
jan 6 is false flag to frame trump for break glass similar to ukraine coup 2014 to oust current president by cia shoot at both guards/protesters or hide among protesters to shoot at guards
ua-cam.com/video/V9rnoe18q3s/v-deo.html
1. wesley clark reveal 2000 to 2012 all rig for kill iraq to syria
ua-cam.com/video/_mrJRHwbVG8/v-deo.html
2.dnc kill 50 in vegas/portland, thugs attack with stand down cops san jose/charlotte, burn loot several months, sabotage afgan withdraw using russia bounty smear to give taliban equip
ua-cam.com/video/UxoL8tHSa7g/v-deo.html
there is selective outrage from cia/media similar to ukraine 8 years bombing cuban missile crisis 2.0
ua-cam.com/video/_pGkFMho6Co/v-deo.html
ua-cam.com/video/q566pifdnU4/v-deo.html
ua-cam.com/video/qYmCtYLE9k0/v-deo.html
usa lied about sending troops to fight isis enter syria, then it change to assad must go, they had turkey kill kurds so pelosi can stay in syria
everyone remember nbc threaten follow jury with later to use thought police thugs? they gave protest t- shirts to san quan mayor puerto rico to lie about never receive hurricane maria aid
destroy cali prop187 and create daca=south america stay cheaper than normal for outsource by throw away portion of their population for usa to take care of.
we need to arrest all that hate withdraw from syria because they rig 2000 to 2012 kill iraq-syria but shameless blame russia!
only then can we give all medicare, lower living cost inflation, wage regain value
well... apparently you are not that wise men
))) someone never learn,..
I learn from the mistakes of people who take my advice
So we have concerns about the morality and safety of Chinese projects and investments but we give them business anyway because they offer the cheapest tender? I think the EU needs a good look in the mirror. The Chinese are only getting away with it because we are playing ball.
We we. …. Yea the special Bbwee
In fairness there are tarrifs, VAT and duty on all Chinese products and services so they usually have to go super cheap to compete against local companies.
Baksheesh = kickbacks to the officials who put their nations in debt for the sake of the ΧίΧίРee.
U in get no ďu
Chinese people are peace loving and have no any ambitions to EU. The criminal is XIjinping who wants to extand his dictatorship to the world.
Kind of a misleading title. For the example of Croatia. As you've rightly mentioned, it was paid mostly with EU funds. So no debt trap here.
It’s the BBC what do you expect 😂😂😂
@XEAtheist Sri Lanka owes the World Bank/Japanese banks a lot more than the 11% debt they owe to China. Nice try though.
If you trust BBC. Add this to your watch list.
Watch the BBC Debunk its own Denial of Nazis in Ukraine
ua-cam.com/video/fvsnYJPqLSI/v-deo.html
but none of them took Sri Lanka's port for 99 years.
BBC is propaganda channel
I like how this is a problem when the IMF and World Bank have literally done the same thing
Yeah, suddenly amnesia to remember when Asia countries been destroyed in 1997/1998 and trapped in debt in Asia financial/monetery crisis. Lmao. Hedge funds from Europe and America destroying Asian countries currencies and stock market.
@@NurmaBP you don't reason to the descendants of colonialists. One day they will bow under our gun point. That's the only reason they would understand and comply.
And China gives loans with no conditions attached, low interest rates, and forgives debt if countries cannot pay it back, unlike the IMF and Worldbank.
The cost of being in debt to China is less than the cost of being in debt to the IMF
OMG you have nail it!!!! What is the worse part is IMF forbid loaning countries to subsides their educational system, without education, the locals forever working their head off but never be able to earn more, become the slave of the west!
It only takes the country. The country will be sold to china. Debt trap turns to death trap.
IMF?
@@stranger1347 international monetary fund kinda like a world bank
@@Floppyfishflop oh ok
World: "I need money to build infrastructure."
IMF n World Bank: "Our interest rate is 4.5%"
China: "Our interest rate is 4%"
IMF n World Bank: "China is a debt trap"
China: "???"
lol so true
IMF/ World Bank: Our debt trap is better than China debt trap!
China will give loan only that project where will not create wealth
This comment is stupidly reductive
Wtf, china charges a ton of interest & a lot of conditions and that's why they keep the conditions private and nobody knows them. If people knew, then they will protest
Freakin hilarious. Britain complains about another country's exploitation of weaker nations
It has been more than 50 years since Britain has exploited workers around the world.
@@johnirvine9942 I suppose invading Iraq was a purely humanitarian endeavour. Even if what you said were true, would that negate hundreds of years of such activity and give them moral authority?
@@treeman5274 Personally I do, most of the people who made those decisions are long out of office and possibly even dead. Judge the country based on the current generation, and the values and decisions they make. You need to distinguish between peoples choices and the abstract idea of a country. An example of my argument is Japan, do you feel that the actions they made 70 years ago in WW2 can be negated by the decisions they make today. It’s fine if you don’t, but in my opinion it’s silly to blame people for something their ancestors did. And as for Iraq, tens of millions of people in Britain opposed that war, there were large scale protests, and the same applies to Vietnam.
@@johnirvine9942 what you said is sound in principle, here's the problem I have however: Japan has changed their system of governance (forcibly, but still) by taking power away from the emperor and adopted a philosophy of pacifism for the most part. Britain has one of the parties responsible for the crimes of empire currently in power with many in that party of the opinion that the empire was a wonderful thing. Tony Blair is a knight, when he goes on trial for war crimes your argument will hold up.
Totally agree!! Can't stand the BBC hypocrisy over here!!
BBC is so kind , I am really touched about their caring of other countries
U can say that again. That's why world over we speak English.
@@normanpadzala37 that's not why you fool lol
You must be joking 🤣
Bbc the world propaganda machine
pls inspire me how BBC helps other countries? do you know British nationals are fed up of paying annual tv license to fund this state controlled media company? we are also angry that the top management of BBC sucking out tens of millions of tax payer money for doing nothing. BBC is disgrace to us.
@@BruceLee-pr1md BBC is a state funded propaganda machine but they claim they are a private corporation. They know nothing about shame.
You blurred his face , changed his voice but showed his name. WOW
same as their fake police from xinjiang
Classic professionalism, it's hard to find these days.
BBC News, the most trusted News Organisation in the World😂😂😂🤡🤡🤡
Disappointing journalism honestly. I'm sure the bad labour standards are real but the "Chinese debt trap" thing is old and has even been debunked by Bloomberg. Why does the BBC talk about the Chinese debt trap and not the very real French colonial debt. Whatever the reason, its manufacturing consent in action.
BBC - Baddest of all bad champions!
BBC - British Brainwashing Company.
What about IMF and world Bank debt trap? That most of the world has been burdened by with harsh terms and conditions which keep the countries poor forever
the only reasonable comment here that I can find. So don't be surprised our peers in the comment sections found it appropriate to bestow 100 times less 'thumbs up' on you than on the assertion of bottomless nonsense and crowned it with the above comment by "Aliyah R.". Sorry.
Have you ever seen such a debt trap operated as a mode of a charity? IMF and world bank have very low loan interests and China has been benefiting from it!
Add ECB to the list of enslavers and blackmail masters
Not to mention they act as a vehicle to protect the interest of foreign investors over domestic omes
@@Ambrose136 你可以去查下利率，顺便也看下其它西方国家的贷款数额和利率
Loan from IMF = Good
Loan from China = Bad
British slavery = Good
Very good translation for those non sense British and European racist.
Harsh reality
@@thefirsttimes4796 : Chinese loan is good that's why Sri Lanka lost its port to China? 😂😂😂
@@michihofer587 I don't know what was the precondition before they issued loan to Sri Lanka but Obviously you won't loan somebody without protecting your fund. Lets say in this way , China made a building in foreign land with its money , obviously that building is belonged to China except the land unless that govt pay that money back or somebody else pay that money back to China. That's how they protect China's money in Abroad. Its not like a loan from A US bank, IMF/US issue a loan to a foreign govt but that govt keeps their money in the US Bank as a foreign reserves which basically means whatever they do with the money but that money never goes out of US bank. Here Sri Lankan politicians stolen the money and hide it to somewhere else by depriving their people. They have not kept that money in a Chinese Bank. Of course China protect its money from being stolen and get it back if they are not paying them. I hope I am not wrong and you are clear.
@@thefirsttimes4796 : Wait and see how your country will fall into Chinese debt trap in the near future.😂🤣
No country should be in debt to China! Nor to Russia! All countries need to do better housekeeping!!
The US owes China 1.3 trillion dollars, stupid!😂
@@yetreefield Well, tell us, don't just make empty statements here.
This isn't somehting new, and the Chinese are the only ones with the money atm who invest in lots of countries where nobody else goes to invest. Mostly in Africa atm, where China is currently going rampant. They give out loans these countries can never pay back, and then have the 'legal' power to do what they want - or something like that.
This isn't about better housekeeping, but about countries being exploited and countries who struggle generally with corruption, etc. Most of the money goes into the pockets of a few politicians who flee the moment they amassed enough wealth.
@@jinpachibobochan3532 pretty much the whole world. The west only looted third word countries and never helped them develop. When the poor wanna borrow money from the rich European colonizers the conditions are always strict and relentless.
China DEBT TRap must watch Bloomberg they go in much more detail..
ua-cam.com/video/_-QDEWwSkP0/v-deo.html&ab_channel=BloombergQuicktake%3AOriginals
When it is IMF and World Bank, it is not debt trap ( for example: economic crisis in Argentina caused by IMF), western hipocrisy.
Argentina created its debt all by its autocratic olicharchy self
What are you talking about
Amor nao 😆 when it is our own housing loan borrowing from bank not debt trap 😅
@@theejason4035 not necessarily because renting is expensive and you pay somebody's else's home.
@Mr Awesome huh? What nonsense are you talking about? What top banks? What are you saying about china being the richest country? Take it slow!
The strong sour feeling from Anglo-Saxon
Very fair and accurate now if only we had a video about the world bank and IMF, that would be fair and balanced
What is this, a game of tag? I tagged you, now you tag me!
@@arvinoo5881 Actually you would be wise to familiarize yourself with banking history and how things have "evolved". You will find the Rothschild family behind BOTH the IMF and the World Bank. You might already know, but if you trace it back to its root and how it all began, some of it will make you uncomfortable. As it has unfolded, like some sort of weird power trip over the generations, it has proven to be questionable rather than noble. I am open to evidence in the other direction and of course, good has been done, and yet, there are homeless people and starving people. The World Bank and the IMF (meaning the Rothschild family) could easily change all of that. This is a different kind of wealth than say, Elon Musk.
What's wrong with the World Bank and IMF?
BBC is one of west propaganda media
They’re already doing this to a lot of country’s in Africa, giving massive loans only to send in their own employees, not allowing people of the region to level up in work and segregating workers from Chinese workers as well as over working. It’s gotten so bad in one country I think they tried to use their debt to take control of their airport.
Ohh that is Uganda, man
well since the serb people cant keep up with your capitalism so they borrowed to ensure the serb people get to boost up their economy. If you dont have stable income then dont fkn desprate to borrow
money for once!
Most African countries’ economies have grown because of this resulting in millions of African lifted out of poverty. Do you think this is bad?
On the contrary, the west had hundreds of years to help those countries, and what have they done. Slavery, colonisation and natural resources being stolen?
@NBA shut up Ch ine bot account.
That is the nature of CCP. CCP inches every resources others have. They are too greed! President Xi said on a very top level meeting of CCP, "We think it is time to control the world due to the recognition of the east rising while the west declining!"
Sri Lanka has been used the most to illustrate 'debt trap' from China. However, quick check will show that China holds a mere 10% of the country's external debt, lower than Japan and far, far lower than what is owed to the IMF/World Bank/International markets. In fact, SriLanka leased the port of Hambatota NOT to pay off Chinese creditors but international market creditors and to shore up FX reserves.
@@drsatyamupadhyayXD all the data I have come across point to 10%. In any case, even at 12%, that's hardly a 'debt trap'. And it is also disingenuous to say that hambantota was 'seized' by China. This has been debunked many times over. The money resulting from leasing hambantota did not go to paying Chinese creditors for the port but to pay other international creditors and propping up SriLanka's depleted FX reserves.
They want to get more low interest loan from japan by accusing china.hopefully by angering china,they may win china enemies s friendship and favour. Treat the whole anti china world as scum and thugs.
Don’t blame China ..,Sri Lankan Prime Minister made all project near his province .and from those project are now use less…
What explains the collapse of all those economies globally, that were 'helped' by China? Coincidence? 🤣 A dictat orial regime stoops to any extent to meet it's nefarious designs.
@@shreeveda come back with actual facts instead of using fancy words without actually demonstrating anything to back up your thesis.
Why don't you talk about the cost of being in debt with the USA and the IMF? Too afraid?
Many nation have debt in imf.but never took any of their teritoty or the project itself like port and airports.example scs they grab some there look at sri lanka port and jabuti airport.what can say on that it is not a debt trap?
@@junnel1970 The IMF always demands certain laws and concessions to be made when they loan money. They force poor countries to align with US policies.
@@sta1nless but i see those nation align with them is progressive like japan,singapore,taiwan and their people live freely and most liberated.
Part of the problem, on the infrastructure bids, is western companies complete and utter incompetence. 2 to 3 times the cost, always complete to 2 to 3 years late and not noticeably better. Sure labour and less red tape and reduce costs 20 or 30% but not to the levels we see. It's a no brainer for companies that have the option.
Chinese bridges fall apart tho, and they like to use foreign labour which doesn’t go well with locals
@@chrissmith3587 the main problem is the UK construction works need 5 people for ever 1 person job.
If you ever walk past, there's 1 working, 1 watching him work, 3 others at the side having a chat.
This group makeup will be seen across the entire site. It's an open work secret that they only need to be seen having 1 person actually doing anything for every 5 people
@@stevebren88 you forgot to count the middle management back in the office
@@chrissmith3587 ha! True
British bullshit corp, they don't say Anglo-Saxon stole 45 trillion from India so no debt for them
We do not know the cost of being in debt to China, but we do know the cost of being in debt to British. India and other British colonies have the most prominent voice to tell u what are the cost of being in debt ( even with no debt )to British. Slavery, opium, colonism, racism, white superamcy, oppression, plunder......You name it.
We were never in debt to the British. Indians sponsored the British wars in India.
The stupidity abounds with projects like the bridge. Where do I start… By relying on Chinese to use their workers and their parts and their equipment, the EU is gambling the quality of the parts is sufficient and they are neglecting union workers and failing to support their own local businesses that supply equipment parts. All for a 20% cut.
Whoever agreed to the deal
We’re bought and paid for
@@CultureoftheWorld beyond doubt people like Madeline Albright and Hillary kill democracy by foreign policy coup
obama and Smith-Mundt Act in 2012/2013 which legalized propaganda by US government to be used ON the US people
jan 6 is false flag to frame trump for break glass similar to ukraine coup 2014 to oust current president by cia shoot at both guards/protesters or hide among protesters to shoot at guards
ua-cam.com/video/V9rnoe18q3s/v-deo.html
1. wesley clark reveal 2000 to 2012 all rig for kill iraq to syria
ua-cam.com/video/_mrJRHwbVG8/v-deo.html
2.dnc kill 50 in vegas/portland, thugs attack with stand down cops san jose/charlotte, burn loot several months, sabotage afgan withdraw using russia bounty smear to give taliban equip
ua-cam.com/video/UxoL8tHSa7g/v-deo.html
there is selective outrage from cia/media similar to ukraine 8 years bombing cuban missile crisis 2.0
ua-cam.com/video/_pGkFMho6Co/v-deo.html
ua-cam.com/video/q566pifdnU4/v-deo.html
ua-cam.com/video/qYmCtYLE9k0/v-deo.html
usa lied about sending troops to fight isis enter syria, then it change to assad must go, they had turkey kill kurds so pelosi can stay in syria
everyone remember nbc threaten follow jury with later to use thought police thugs? they gave protest t- shirts to san quan mayor puerto rico to lie about never receive hurricane maria aid
destroy cali prop187 and create daca=south america stay cheaper than normal for outsource by throw away portion of their population for usa to take care of.
we need to arrest all that hate withdraw from syria because they rig 2000 to 2012 kill iraq-syria but shameless blame russia!
only then can we give all medicare, lower living cost inflation, wage regain value
Whether the bridge is built by Chinese or Austrian companies, local businesses will be only marginally involved. Besides, the construction sector is Croatia is not heavily unionized. As the structure has passed the technical inspection in January, the quality does not seem to be an issue. After all, China has an interest in not screwing up one of their flagship projects in the region.
it's more than mere stupidity, it's also paid off corrupt government officials.
@@baka1949 China has embarked on these kinds of projects all over the world, by bidding below the competition. The issue of human rights abuses should enter into the choices countries are making when dealing with China, instead of jumping on their typical lowball bids. Workers who are coerced or entrapped by contractors is wrong.
This guy is nuts. You don’t save %20, on a %20 cheaper project. If they don’t hire local, and spend locally.
Normally with large projects, most of the money, goes back into the local economy.
Strange thing for the UK media to report considering our external debt is over 7.3trillion. (External debt is debt owed by business’s, government, banks ect. to overseas lenders) and i bet China is in the top 3… We all know our government likes to bail out the private sector so that debt is technically government debt.
"We buy things we don't need with money we don't have to impress people we don't like."
~Robert Quillen
"We offer special discount on factory land and employee salaries, lowest in world, guaranteed! Buy now, pay later!"
~China
@Adeline Pratt CCP master for the running dogs. Set yourself free and rebel against your masters.
We offer war
~USA
@Adeline Pratt shut up Ch ine bot account.
You fool 🤣
Running a loan shark company is bad, borrowing from loan sharks is stupid. What about laughing at your neighbours who borrow from loan sharks? 😂
how would you relate to Indians giving 5 and earning 6?
Context?
D0 Y0U TH!NKS IMF L0ANS IT'S BETTER?!!
Ah Sri Lanka
Western countries are complaining about Chinese development projects, Why don't they offer the same to developing countries instead of ranting day in day out. They are still having largest market in China, look at Boeing, Eurobus, Microsoft , IPG, KFC among thousands companies, why don't they leave china for good and also offer alternative cheap products to third world countries.
Because western only know war
You knows to much,lol
How do you outprice someone using slave labor
@@goobot1 your one comment is the answer to the whole comment section filled with wumao trools 🙌
Because most Western products have standards of quality. This means that more efgort is put into making quality products than quantity.
If you want cheap crap that ends up costing you more in the long run, then china is the way to go. I've dealt with chinese machinery. It breaks down on a daily bases, while the Western stuff from the 70s is still working just fine.
Paying 1/3 of the price for cheap crap that breaks down consistently, is going to bite you in the ass later.
I believe they chose China because they learned so many hard lessons from the west.
Forever in debt to your priceless advice 🎵
Never be too desperate to ask a loan shark for fast cash.
I believe you mean "never be desperate enough..." What you said is basically the opposite but in like a really weird way that doesn't make much sense
Loan shark is operated on the bedrock on Chinese tragedy. Eradicating CCP!
Too be honest, this video is a classical example of fake news. These Europe countries seek chinese help because EU don't give a damn about them. They can't get loan from EU nor can get infrastructure projects with sensible prices from EU. So what they do? They find the only help they can get. Now EU is salty that Chinese took over what they couldn't do. Why can't these countries just get loans or help from EU, why not report on that? Oh, right the capitalist banks in EU don't want to deal with the poor record of these countries.
@@badminverse2136 Totally propaganda.
When a man kindly help you with a very generous conditions or even free to do, you should be highly aware of his aims. CCP is that big loan shark which aims for exploiting you, inflicting you and ultimately controlling you.
CCP gives you a piece of candy and wants your all property back!
European countries just obey the principles of businesses and profit the potion they deserve from it.
@@Ambrose136 Based on pricinples of the the West, developing countries should just stay poor and eternally exploited.
You can call it debt trap or whatever ..... but you must admit that what China offers is much much better than colonisation like the one you did in the past
Its pretty much the same but with modern available methods
@@ainzsama5101 No, it's not the same. It's in the contrary in fact. Colonisation is destroying a country, while China is building a country.
@Dillan Powell You must be ashamed of what you did in the past
Whataboutism, the pique of forgettable countries that have a grudge against the west lol.
Hopefully all the people can follow standard workflows completely.
Work with other countries but don't depend on them.
Concise and wise. Well played.
Could you talk about mortgage debt trap? High cost of living, high interest rate. Mortgage debt trap make us poor: little money to buy foods, little money to improve living condition, little money to save for retirement, little money to save for bad days. And bad days are all around us, covid, war, discrimination.
Completely agree. Everyone is a slave in some way to their needs and their economic system.
So you would rather be in an authoritarian country's debt trap than pay your monthly EMIs on time, eh?
@@warnpassion In an Authoritarian country, people allow to use their social network freely, and expose or criticize their government official if their government official did a lousy job, and government officer will lost their job if they were fail to deliver result or misconduct. People can safely walking around the street day or night, specially woman and children without the fear of being rob, rap, adopted or even death. People can have independent finance, a taxi driver can own a completely paid out housing property and extra cash in his bank account (prox 700,000 Chinese yuan, 100,000 USD), commodities are cheap because they are the biggest producer of the world, food isn't expensive outside of tier 1 city. Most of the house wife or retried elderly can enjoy their daily square dance (I find it extremely annoying though), they are also the biggest tourist spending country before covid 19 lock down in Asia and many European country, almost all European brand shop constantly packed with these Authoritarian country's people, queue for few hours before can buy a GuGGI bag or Chanel bag (so I don't enjoy shopping branded stuff in Europe or Asia because of the annoying queue time).......Compare the US, UK or China, if I must chose one of these three places to live, I will rather go for China.
@@warnpassion who says he has to choose tho? He rather not choose among those two me thinks.
You just explained the US.
The “debt-trap” theory is concocted by Brahma Chellaney, an Indian geopolitical strategist. The “debt-trap” theory is concocted by Indians, and popularized by Americans. They concoct this theory to demonize China, Chinese and BRI projects/loans. India, US, along with EU, fear losing their dominance and control over other countries which may result from these projects. Such fears are based on their selfish and geopolitical interests.
However, people from all over the world, especially from developing countries have acknowledged the needs and the actual benefits of these projects/loans. They know from their first-hand experience that there is no debt-trap. Academics and researchers have reviewed these projects, and have debunked the debt-trap theory.
So why are these countries who accept BRI fall in massive debt🤡 please provide your source of debunking debt trap theory
Croatia isn't "a former Yugoslav country". I mean we had a kingdom waaay back before Yugoslavia was even a thing, so it's kinda weird to put that connotation.
True!!!
Your "kingdom" was never relevant what so ever and everyone will always see you as a catholic part of Yugoslavia, sorry mate
Nonsense, really. Like India wasn't a British colony, because it was a kingdom before Britain existed
@@PanterDash82 yes but no one is refering to India today as "former British colony" as it existed waaay before Britain
@@luduvugla Yes, but Croatia was longer non-existent than it was an independent state. 200 or 300 years as a kingdom in Middle Ages, then about 1000 years as a part of various other states, and then independent after 1991. In modern times, Croatia was part of Yugoslavia for a longer time then as an independent state. And that's counting only socialist Yugoslavia.
My issue with this is - it made more sense to me to say "no need to refer to Croatia as a former Yugoslav country, because we are independent for quite some time", rather then "we are not former Yu country, we had a kingdom in the 10th century" :)
No more Chinese loans 🚧🚧🚧
🇨🇳🇨🇳🇨🇳🇨🇳🇨🇳❤️❤️❤️
China DEBT TRap must watch Bloomberg they go in much more detail..
ua-cam.com/video/_-QDEWwSkP0/v-deo.html&ab_channel=BloombergQuicktake%3AOriginals
@@bachehazara5009 The Chinese ppl do not seem very happy at the moment. They are being treated like animals 💡
I can’t believe that I actually paid for a tv licence at one time.
youtube won't be free forever
"If you were to murder someone... you're beheaded."
Sounds like a weird company policy. Why would anyone murder someone on a construction site? Is that a standard practice or something? 🤔🤔🤔
🐲✨🐲✨🐲✨
ITs just propaganda bro
@Dillan Powell shut up Ch ine bot account.
@@MuhammedChand they were talking about worker’s contracts
@@MuhammedChand They said the worker contracts were copy pasted from the middle east and that those contracts stated those things. The Chinese company probably never read them, but it shows you how much they care about the contracts. Which is to say not very much.
On the topic of "debt to China", Brits certainly are the expert. Why not talking from their own experience, that is, the experiences of 1840 and 1856. How did the Brits settle the debt at that time? Opium + Warships. Talking about corruption? Human rights? Sure.
China is crumbling right now under the weight of its own gluttonous greed
right!!! The brits & usa talk shit only.. they talk about human right,forest Environment care & about others thing like they are champion no 1. but send a shipping container full off garbage & trash to others country to keep they country clean. such a hypocrite!!!
Europe made lot of countries poor
Please also compare the cost of being in debt to IMF and World Bank
Why should the developed European countries be complaining if they themselves are unwilling to invest in these projects???
Fact and even whan they are offering investment their terms are much worse than the Chinese
is it a reeson to complain
That Croatian academic was deplorable. It isn't a question of whether we'd benefit financially from dealing with China -- otherwise we wouldn't be doing it. There's a MORAL problem.
Lies again? MLS Student Debt
@@MrNikPraskaton As little as possible. There are several companies I don't buy from because of things like this.
It's very easy to say "none of this matters" to make yourself feel better, when what you can do is minimize the damage you cause even if you can't personally solve the problem. And vote for policies and representatives that don't support the suffering of others.
Your stupid morals don't matter
Not China's fault! Don't take loans you can't afford to pay to then blame the one who gives you money
the point
you
China exports corruption and the people suffer.
But see what happened to sri Lanka
@@socio-economicnewsnetwork4740 you refer to the airport?
China DEBT TRap must watch Bloomberg they go in much more detail..
ua-cam.com/video/_-QDEWwSkP0/v-deo.html&ab_channel=BloombergQuicktake%3AOriginals
@@socio-economicnewsnetwork4740 China's debt in Sri Lanka is 10% what happened to the 90%?
BBC: *shows chinese workers*
"It's an unmistakably chinese scene"
Sounds like an unmistakably western news source.
Blaming the Chinese for what the Serbs are supposed to enforce is BS. If there are violations the Serbs need to hold the Chinese company accountable. The Chinese company, if found to be guilty must pay the workers, improve their conditions and create binding legal contracts. This ultimately falls upon the host nations who allow these various multinationals to do business abroad and bring in foreign labor. This falls on the Serbs to ensure foreign labor in their nation is treated fairly by enforcing clear rules for companies doing business there.
When a corrupt government, works with a corrupt government. This is what you get. Serbia, now has bad air pollution. Because the Chinese built, dirty coal power plants. It is not what the people want. According to my Serbian friends.
Ahh if you knew what a shit hole serbia and the whole Balkans are
Yes, but giving "commercial loan money" to build ports, airports, cricket stadiums, where no ships berth, no planes land and no cricket matches are played is not what the USA, EU or the UK will do...ie the difference between China and the free world
@Elisa Oconnor shut up Ch ine bot account.
Whatever the Chinese intentions are, most African countries’ economies have grown because of this resulting in millions of African being lifted out of poverty, do you think this is bad?
On the contrary, the West had hundreds of years to help them, and what had they done to these countries? Slavery, colonisation or their natural resources being stolen?
Even more horrifying being indebted to the IMF
It’s is nuts to give away your work/ projects/ control etc etc just to “save” 20%
You sound like you've never worked a day in life.
Yea it is nuts but that is the price of wanting to improve the lives of their people, and that is what china is doing. Before this they only had one choice which were y’all the west that were willing to help, but always with “conditions” which always somehow end with allowing the whiteman with control of other countries resources and always with some bs excuse to justify it. Now you see this is just among one to the reason everyone hate y’all.
It may be wrong but 20% is an incredible amount to save, especially in big infrastructure projects
Yep, but what will the state of that bridge be in 30, 50, 100 years? I doubt if it will last as long as Victorian suspension bridges. Have they even looked into the safety and quality of building constructed by the Chinese in China? They are known for tofu dreg construction.
@@Lotsielots Like it or not, they are better at bridges because of China's landscape. They have perfected this at home. Also, unlike most countries, China does not have to worry about the next election which allows them to invest in such projects. This is also something they advertise in China as a difference between Communism and Democracy.
I am a bit puzzled by the inclusion of the Peljesac bridge in this report. The project is funded mainly by the EU, the China Road and Bridge Corporation is merely the contractor for the bridge. How can Croatia possibly incur a debt to China? There was also no alleged link to environmental damage or worker exploitation. Any thoughts?
They did mention it was funded by the EU
Let me guess, cos BBC is stupid and a liar? :-)
the EU money is borrowed money, it wasn't all sitting in a bank account .. the bridge payment is 'leveraged" .. corrupt EU politicians made this happen.
China, China, China. Any problem? Blame China.
China hit peace. In africa chinese debt only makes up like less than quarter of total debt.
The interesting part seems to be "European rivals called foul but couldn't stop the deal".
In other words, someone at the European Commission got a massive bag of money from someone in Beijing.
might also have something to do with sanctions placed on China by the USA and a few other countries maybe even on ebay when you pay for postage you then pay another 15% for import. if that's for just a £20 item, imagine how much it cost China to export billions in trade, so you pay more and you look elsewhere for likewise goods
The cost of being in debt to the West: drought and famine...
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Please make a video on cost of debt to IMF( International Monetary Fund) also .
Ridiculous😂if you're caught stealing your hand is chopped off......please let us see the so called contracts 🤷🏻♀️
so much risk for 20 percent saving will we never learn
I think this pandemic has taught people the importance of multiple streams of income, unfortunately having a job doesn't mean security rather having different investments is the real deal
It's very simple. When dealing with China, sleep with BOTH eyes open!! Read the small print! Avoid deals on security, and NEVER use public resources as collateral. Keep separate software/cyber information flows.
Ty
Yes
Hello what place in china is this video in.
India hasn’t condemned Russia so far. The west didn’t criticize India for that, and instead several heads of state like the UK have paid a visit to India further strengthening business ties. It’s all about political gains and strategic interests. That’s why I hate politics.
Yeah. But it's better than being Barbarians lol
I'm not even Indian, I'm Pakistani, but I think India has every right to neutrality. Not supporting Ukraine does not equate to supporting Russia. India is simply allied to both sides and intends to reap benefits from both.
The WTO tried to sanction India because India was supplying the domestic Indian market with affordable pharmaceuticals, which threatened the profits of bigger Anglo-American companies in the domestic market of India. Western institutions like the IMF have been larger loan sharks than China as evident by the controversial fiscal policies. Before the Chinese came in, Pakistan and Sri Lanka had already taken out too many IMF loans which increased foreign investment, but decreased exports and increased imports, resulting in account balances, that too combined with the austerity measures that Sri Lanka and Pakistan were forced to implement in order to access debt relief to pay for the loan they had taken out to pay their debt. The vicious cycle continued... China, which has similar voting rights in the IMF as the US and EU countries have, is just replicating Western predatory policies, so that's why the West is really pissed. China is taking their place as a neo-colonialist force in the developing world. It's funny how this video is coming from a British news channel: countries like the UK want to act all innocent, but over 100 companies listed on the stock exchange have mining operations in 36 sub-Saharan African countries. Most of these companies are American and British owned and have extracted $1.1 tn worth of minerals and fossil fuels from the region, that more than every Chinese company operating in Asia, Oceania, Africa and South and Central Africa, combined.
Anti-West sentiment in India is mostly directed at Western governments, not their people, and is a result of the legacy British colonialism left behind, but as well as the current hypocrisy of many Western countries. Indian sentiment is in favor of Russia because it was the Russians who came to India's aid when the US and Europe was backing Pakistan in the Cold War, during which the CIA, MI6 and ISI created and armed the ancestors of the Taliban, Al Qaeda and the Islamic State. Not to mention, the US and Europe ignored and actively enabled West Pakistan's genocide in Bangladesh. The conservatives and right-wing in India however do support the Western invasions of Muslim countries and can sympathize with anti-Muslim sentiment in many Western countries, but the liberals and left-wing of India generally do not.
India has been a long history of non- alignment & neutrality since the beginning of cold war b/w US & USSR.
India has been a long history of non- alignment & neutrality since the beginning of cold war b/w US & USSR.
The west need India and that's why they don't speak anything about India in case of their absurd position in Ukraine war, purchasing of S400 , minority oppression and things like that. They need India to tackle China and that's it
China/Russia one love❤️
That’s what makes their contract far cheaper than their counterparts.
None of this story makes sense. If China are operating in Serbia, they are bound by Serbian employment laws.
imagine taking someones country, forcing them to slavery to build up the country and then leave the country messed up in debt and no law.
thats called colonization
Isn’t that what the US did to Afghanistan?
not really china isnt forcing these countries to choose them they are simply undercutting the other firms its down to individual countries to choose whether or not chinese investment is for them.
quite clearly im not talking about china , more like the european and western countries
@𝗡𝗕𝗔 shut up Ch ine bot account.
Get over it moron
It's just like being indebted to a *πobber🇨🇳*
Ok lol.
Why haven't I ever watched a video titled 'the cost of being in debt to the usa/uk' ?
Ahh this has been going on for a couple of years by now and the BBC are only now talking about it now?
great, now make a video about the cost of being in debt to the US
Yep, even in Australia we have this, Chinese companies in building and construction works. When will we learn
Sounds like Australian government is so corrupted and stupid to allow China setting up debt trap and violating human rights there.
@@canpek545 its no so much human rights, its more money, shoddy work, different ethics. Typical money grab.
@Aisha Stone shut up Ch ine bot account.
@Amanda Dan dont talk to strangers
Don't blame Chinese companies for building to specifications. Blame the certifiers, councils, etc who are in bed with the developers, not to mention shoddy building laws in Australia.
okay, 1:57 can we see your source please BBC. show us evidence for this allegation instead of some tractors
Why does your news sound like I'm having a tough time, but in fact I'm having a very happy 😂 life
Of course UK loved Chinese investment until the FAA rite needed a diversion
Yes and they loved russian money before the full scale invasion on Ukraine. There is a reason why London is called Londongrad (Or how i like to call it Londovgorod).
The Chinese built "Pelješac Bridge" in Croatia looks great. It will be fantastic for Croatian locals and for tourists visiting Croatia who want to travel to Dubrovnik by car. Finally locals & tourists will not have to pass through the sea side town of Neum, which the Yugoslav communist party transferred to Bosnia & Herzegovina after WW2.
The West should worry about the conditions workers in their own countries are facing.
@Alexandria Lane disliked video
A bank is a place that will lend you money, provided you can prove you don't really need it.
3.10 the Chinese won a bridge contract funded by the EU by bidding 20% less than any European competitor. These things happen the Royal Navy was ordered to put the contract for two supply ships out to tender because under EU rules they were not considered as military vessels. They did - and the contract was won by a Danish company who had them built in South Korea by a wholly owned subsidiary.
It's not only the Chinese who are bending the system
What about the debt traps created by IMF? and the political agenda abided by those IMF loans?
"None was available part " gives a sense that they don't care ...😁😁
The bridge built at a 20% discount isn't going to last very long. :)
😳 Scary thought. Let's hope those Chinese built infrastructure fare better than the usual Made in China products because 20% cheaper might just translate to 20% less safe, less durable, less effective, etc.
You get what you paid for. You want them cheap so you bought a cheap one, now you're complaining they're not good. A fair comparison should be buy a chinese product worth what you would pay your western product and them compare.
no it didnt, we Indonesia got our infrastructure from china and its really really really bad
besides i remember when infrastructure were as much investment as it was about creating jobs
@@rap3208 Why would anyone buy anything expensive from China? If people have lots of money to spend they will buy known reliable brands. Chinese brands are awful.
@@tabernathy0428 Because they manufacture almost everything you use? or the parts of everythng you use? That iphone you are holding is made in china.
Too bad... China is so messed up....
Alongside their link to Russia and India....
They could of helped build the infrastructure of the world....
Since if they can build a space station....
They could build something as easy as a building, roads, etc.
@@drsatyamupadhyayXD drop the middle eastern terrorists and Russian terrorists....
Tainted image in the free world eyes
Along with the military bases around the world...
I doubt that China could ever do those things....
FYI: India made plans before Russia invaded Ukraine...
Modi went to speak with the free world...
Now they will have investors...
For Infrastructure and manufacturing....
So I assume it is too late for China.
Rise and fall of China...
Rise of India... Made in india - Modi.
🍿😎
@@drsatyamupadhyayXD also... the free world was hopeful...
But China went to full blown dictatorship...
Xi president for life... wtf.
People that understand....
The free world doesn't associate themselves with terrorists and dictatorship nations.
Cause if they did...
It is Bad for the business.... means no customers....
No customers... no profits... no business...
Africa and Europe need to be careful when signing deals
Atleast they get infrastructure uk debt traps in Africa only involves mining claims and fueled civil conflict
While China INVESTS in Europe, the USA sends weapons.
Fast forward a few decades and the USA will cry foul 🤣🤣
lookup the Marshall plan.
@@theopinionateatheist the Marshall Plan!
What year do you think this is 1776? 🤣🤣🤣
"There are 20 or 30 workers living together in each container."
The Chinese state owned company was 20% cheaper..."
Once you decide to give each worker better living conditions, less working hours, the price of building the thing you want becomes higher. This is just basic economics. So, you might wanna curb that Human rights BS if you want cheaper stuff. 😏
hello how are you doing
This is crazy!
I wonder if it's any different to be in debt to UK, for example.
The "beheading" allegation is just hilarious, but when bbc keep saying it, I have no doubt that there will be buffons in the uk believe it
They probably got confused with their friends the Saudis about beheading.
+10 social credits for you dear sir
Great. Now abolish minimum wage and bring back jobs.
The irony is Chinese will get the jobs & not the local people. And they defend it by saying colonialism lectures lol
if i goto a bank and asked for a homeloan. then somehow i lost my job and got to sell my house to pay back the bank, its a debt trap!!
What about the high suicidal rate in the Foxconn factory where all the big brands made their gadgets? Each worker works 12hrs in a shift. Shall we consumers put pressure on the brands?
The European Commission approved this project, with EU Cohesion Policy funding coverung 85% of the cost. The Chinese entered a public tender with the lowest bid that's at least 20% cheaper than their counterparts. Today the project appears to be up to spec, on schedule, and within budget. So pardon me but where exactly is the debt trap?
I think the point of mentioning that was the literal slave labor that's being used to build the bridge, as well as the outrage that should be expressed over EU taxpayer dollars going to a Chinese company. Why wasn't bidding restricted to EU companies (and perhaps a few allied countries as subcontractors)? China is a genocidal cult state. The civilized world should be working 24 hours a day to decouple from them.
I am waiting for an in depth report on Sri Langka, a country deeply in debt to the CCP , which seems to own Sri Langka 's airport
Bla bla bla, Chinese debt in Sri Lanka is less than 10% percent of the western Debt
First you need to check how much Sri Lanka owes from IMF, World Bank and Japan
i can tell you only get your sources from WION.
Talking nonsense 😂
@@stunstar4553 Exactly Imf and world bankb..who runs them
Sb tell me what things relating to vietnamese in that report
Keep the money and work away from anyone aiding this war.
Very simple solution, don't take loan from China! Just like anything else, you get a loan from the bank, you need to payback the principal + interest. In the event you can't pay back the loan, your collateral (this case your port, land, etc) will be taken by the creditor (China). I don't understand how hard to understand this simple financial fact.
99 years lease of Sri Lanka port of Hambatotta to China because of debt trap. And let's expect the incoming wu mao and han chauvinists comments who use "whataboutism" below
@@notamoonraker this you are social bum !? Borrowed from someone and don't pay back because you are not able to take loan at the first place.
PROBLEM IS USURY% JUMPS UP, UP, AS ORIG. VALUE GOES DOWN IN INFLATION WALL ST. CASINO GAMGLING or goes down to DIRTY RIGGED Russian Roulette 🔫🙉🙊🙈
@@notamoonraker China also wanted 99 years lease of Van Don VietNam but the government backed down due to protests. China set debt trap everywhere. It's easy to understand because the Vietnam goverment took bribery from China and has been puppets of China for a long time. Same for other small countries like Sri Lanka.
I am glad that my country(Lithuania) didn't shake hands with China
Lithuania isn't a country, it's an SSR, temporarily pretending to be European
Anybody heard of this country lituanua ? Sorry in Europe there's no place for shithole place like liathnia.
@Dor Dor inflation in Sri Lanka is 27% and under a debt trap of China
@@ericme5715 😂😵Do you even watch Newa outside here
Your country is missing out
Infrastructures something you do not cut corners on. Too many liabilities and you want the experience and the best of the best to take on the projects.
Belt and Road Initiative....