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Kenya revelations shine a light on China’s predatory lending practices
Posted By Brahma Chellaney on November 24, 2022 @ 11:00
Article printed from The Strategist: https://www.aspistrategist.org.au
URL to article: https://www.aspistrategist.org.au/kenya-revelations-shine-a-light-on-chinas-predatory-lending-practices/
[1] details: https://www.nytimes.com/2022/11/08/world/africa/kenya-china-railway-contract.html
[2] loan agreement: https://int.nyt.com/data/documenttools/Kenya-China-Docs-2/e099c795dfcc47ce/full.pdf
[3] controversial: https://www.nytimes.com/2022/08/07/world/africa/kenya-election-train.html
[4] tripling: https://www.bbc.com/news/59585507
[5] exceed 6% of global GDP: https://www.voanews.com/a/east-asia-pacific_voa-news-china_china-worlds-biggest-creditor-delays-debt-repayments-77-nations/6190886.html
[6] overtaken: https://www.ft.com/content/f27a543b-7678-4130-9c05-db0492d9c240
[7] largest funder: https://docs.aiddata.org/ad4/pdfs/Delivering_the_Belt_and_Road__Decoding_the_supply_of_and_demand_for_Chinese_overseas_development_projects.pdf
[8] rising sharply: https://greenfdc.org/china-belt-and-road-initiative-bri-investment-report-h1-2021/
[9] international criticism: https://www.cgdev.org/article/new-study-shines-light-beijings-secretive-international-lending-program
[10] increase: https://fortune.com/2022/09/12/china-gave-tens-of-billions-in-secretive-emergency-loans-to-vulnerable-nations-emerging-as-worlds-major-creditor-and-imf-competitor/
[11] receiving a staggering US$21.9 billion: https://www.bloomberg.com/news/articles/2022-08-03/china-s-26-billion-pivot-from-infrastructure-to-emergency-loans
[12] unlike the IMF: https://www.brettonwoodsproject.org/topics/conditionality/
[13] increasingly channels: https://www.aiddata.org/blog/aiddatas-new-dataset-of-13-427-chinese-development-projects-worth-843-billion-reveals-major-increase-in-hidden-debt-and-belt-and-road-initiative-implementation-problems
[14] eclipse: https://asia.nikkei.com/Spotlight/Asia-Insight/Laos-debt-pressure-raises-specter-of-a-China-vassal-state
[15] hand China: https://www.reuters.com/article/us-china-laos-exclusive-idUKKBN25V14C
[16] surrendered: http://www.indiandefencereview.com/spotlights/will-chinas-military-presence-and-economic-involvement-in-tajikistan-undermine-russias-influence-in-the-region/#:~:text=In%202011%2C%20Tajikistan
[17] granted: https://www.rferl.org/a/silver-lining-tajikistan-defends-controversial-decision-to-give-mine-to-china/30199786.html
[18] approved: https://www.rferl.org/a/tajikistan-approves-chinese-base/31532078.html
[19] signed away: https://www.chinausfocus.com/finance-economy/chinas-imperial-project-runs-into-resistance
[20] defaulted: https://asia.nikkei.com/Opinion/Ukraine-war-hastens-Sri-Lanka-s-economic-meltdown
[21] pocket: https://www.dawn.com/news/1372695
[22] 23-year tax holiday: https://www.dawn.com/news/1509855
[23] enabled: https://cepa.org/article/chinas-trojan-gift-creditor-imperialism/
[24] seeking: https://www.defense.gov/News/News-Stories/Article/Article/2969935/general-says-china-is-seeking-a-naval-base-in-west-africa/
[25] heavily indebted low-income country: https://www.imf.org/external/np/hipc/cost2/index.htm
[26] international study: https://www.aiddata.org/publications/how-china-lends