- cross-posted to:
- news@lemmy.world
- cross-posted to:
- news@lemmy.world
The analysis, published on Tuesday by Australian foreign policy thinktank the Lowy Institute, said that in 2025 the poorest 75 countries were on the hook for record high debt repayments US$22bn to China. The 75 nations’ debt formed the bulk of the total $35bn calculated by Lowy for 2025.
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And now you all know the real reason for China’s Belt and Road policy. One of the greatest lessons they learned from America: the power of massive debt.
https://en.wikipedia.org/wiki/Hambantota_International_Port
In 2016, the Sri Lanka Ports Authority had to repay ₨ 9 billion ($134 million) in construction fees for the Hambantota port, which, by the end of the year, accumulated a loss of ₨ 46.7 billion ($696 million).
These countries are often pressured to vote with China in the U.N. too
I’ve always wondered, what happens if a country goes down and a new country forms under the same territory by people living there? Does the debts vanish?
If the new country refuses to assume the debt, creditors can hesitate to lend to it because they can expect that the same thing can happen again. It depends on their perception of the new government, or of its new constitution and laws.
Pretty much, but it would depend on who the creditor is.
