2024 JANUARY ISSUE
CHINA
THE GIANT JUGGERNAUT
PART 17
Written by Andrew Sia
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From the Desk of the Publisher
As mentioned in the opening of this write up we pointed out that the Belt Road Initiative backfired. Since 2000, China lent to the developing world for the total of $1.3 trillion. When Xi Jinping started the BRI in 2013, the big chunk of $1.3 billion was spent. On top of many non-functioning projects, China has now to spend rescue loan packages to bail out those countries in hot water. With the country also in the middle of financial crisis, we are waiting to see something happening.
Unfortunately that we don’t have any good news except challenges from different directions. One and one, those countries who borrowed from China will enter into default. We need to watch closely Pakistan who is the biggest debtor to China.
The situation in South China Sea is also uncomfortable for the free world. Actually it is in the hot seat, more than Taiwan in my opinion.
