'Out Of Africa': Beijing Slashes Investment Up To 85%
(www.zerohedge.com)
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The context may be less about Africa and more about China. It’s no state secret that China’s economy is under real pressure, including a prolonged property sector downturn, persistent and high local government debt, slowing GDP growth, and weak domestic consumption.
Those challenges have led Beijing to ramp up capital controls and financial risk management, both of which are indicators of a markedly different economy than the one for which China became world-renowned.
In short, China’s days of double-digit expansion are long gone. A new malaise has set in that isn’t easily overcome. Chinese authorities are increasingly focused on stabilizing employment, preventing financial contagion, and managing demographic decline.
When capital gets tight at home, overseas mega-projects become harder to justify—especially in politically complex or financially risky environments. Thus, Africa isn’t being punished—it’s being reprioritized.
Even some critics of the “debt trap diplomacy” narrative note that China has become far more cautious as a creditor in recent years.
Lack of property rights would eventually catch up to the communist country.
In the article: "In other words, China isn’t abandoning Africa—Beijing is abandoning risk."
Maybe it has to do with the inability to depend on the native African workforce. If you haven't watched it, there is a documentary about trying to work in Africa with the local people who have no concept of time, ethics, morals, decency, future, loyalty, etc. It is shocking how the local people do not understand concepts and will steal, destroy, abandon and liquidate all of the magnificent gifts bestowed on them by other nations, simply because if they destroy the train track, they can sell the parts for pennies to other vultures, which said pennies may buy them one meal!
Must Watch Documentary here: Empire of Dust (2011)
https://www.youtube.com/watch?v=-pDJ4-MtAkQ
Such an obvious fact has been long hidden under the claim of racism.
The Chinese are not the best partner to have either. Often wages are not paid and they are abusive. The infrastructure is tofu-dreg - either not finished, non functional, or falling apart. They operate illegal mines and pollute the environment. So yes, the locals view the Chinese as just another predatory colonizing entity stripping them of their resources - which is what they are. Corruption on both ends is rampant and now these countries are caught up in debt traps they are unable to pay. Beijing then takes control of vital resources and infrastructure. So, what could possibly go wrong.
I have seen several videos of the Chinese being attacked by African locals.
I have seen those videos as well. Many times the attacks are sparked by illegal mining or simply the flood of Chinese businesses taking over everything pushing local businesses out. Sometimes its over unpaid wages or appalling working conditions - something that happens in China all the time. The locals are done with Chinese abuse. They don't even treat their own people well. Why would anyone think they would treat others any better.
This
Debt, what debt? Piss off sucker.
Whats the excuse for the 13/50 population?
I'm not following...?
Africa is a "tar baby".
Article written by AI. It immediately kills any desire to read it, even if it’s packed with good information. That it’s coming from Zero Hedge just makes it worse. Disgusting for them to do that when writing articles is their whole job.
It's not by Zero Hedge. It's a link from the Epoch Times, written by James Gorrie.
How are you so certain?
Chat GPT told him.