The document claimed China has been trespassing in the district of Humla, in the far west of Nepal. Enter China's ambitious bankers: with backing from a group of Chinese state companies and a consortium of Chinese state lenders, the $5.9bn railway is set to begin operations in December. The western media are constantly blaming Europe's and the US policies in Africa as "racist" "neocolonialist" "ill-advised" "self-serving" etc with hardly a word on China's actions on that continent. This is certainly correct and true. Maybe more importantly, our analysis reveals that 50% of Chinas loans to developing countries go unreported, meaning that these debt stocks do not appear in the gold standard data sources provided by the World Bank, the IMF, or credit-rating agencies. More countries have opted to take the strictest measures possible to contain it. The countries fought a bloody border war in 1962, ending in a ceasefire that established the Line of Actual Control, Newsweek added. A survey conducted by the U.N. in conjunction with this week's report found that many Indians listed economic issues as their top concern when thinking about population change, followed by worries about the environment, health and human rights. In the border region, an uneasy alliance persists, ABC News reported in 2019. China has the impoverished workers willing to risk their lives for a few extra bucks in Africa. It was heaven on earth. Many Chinese state developments loans also demand unusual forms of collateral. The talks came only two months after Wang Yi visited Eritrea, Kenya and Comoros. In June last year, Malaysia summoned Chinas ambassador after 16 military aircraft flew over disputed waters off its eastern state of Sarawak. Already in May 2021, Townsend had warned that China was overtaking America in Africa: "The Chinese are outmaneuvering the U.S. in select countries in Africa. Recently it engaged in a flurry of diplomatic activity with African countries. China shares a contiguous border of 292 miles with Bhutan and territorial disputes have been a source of potential conflict. February 26, 2020. Laos. In order to keep the BRI on track, researchers say, Beijing will have no choice but to address borrowers' concerns. 2) Private sectors will misprice debt contracts, such as sovereign bonds, if they fail to grasp the true scope of a governments debts a problem thats compounded by the collateral clauses in many Chinese official loans, meaning that China will get preferential treatment when it comes to repayments. Facing a demographic crisis that could undermine the government's bid to rival the United States, Chinese officials and state media balked at Western coverage of new data projecting India edging ahead of mainland China by the middle of this year, if it hasn't already. The state broadcaster CCTV said China, which the World Bank credits with lifting almost 800 million people out of poverty in the past 40 years, was being slandered despite creating a miracle of sustainable and stable economic development with a huge population.. Malaysias foreign ministry said at the time that the manoeuvre was a serious threat to national sovereignty. The Times of India newspaper described this as "a ticking social bomb" in an editorial reacting to the population news. Excellent analysis of the Biden administration's fiscal management principle: Squander the multiple trillions of borrowed money. What is China's One Belt, One Road? First, official surveillance work is hampered when parts of a countrys debt are not known. In addition, China is not a member of the Paris Club (an informal group of creditor nations) or the OECD, both of which collect data on lending by official creditors. And while armed conflict directly involving the Philippines is unlikely, there remains a growing potential for incidents at sea to escalate. Please limit comments to 300 words or less. About Pew Research Center Pew Research Center is a nonpartisan fact tank that informs the public about the issues, attitudes and trends shaping the world. Chinese Communist Party officials have unveiled an "action plan for cooperation" with Latin American countries that amounts to a "comprehensive" plan to . China's economic and diplomatic engagements allow it to buttress autocracies and change international norms in a patient effort to claim their second continent.". Contact: info@gatestoneinstitute.org Until 1986, the total territory (or under control) of the PRC was 10.45 million km 2, including: [1] Continental mainland: ~9.60 million km 2. Read about our approach to external linking. Is climate change killing Australian wine? In other words, countries worldwide owed more than 6% of world GDP in debt to China as of 2017. Here's a thought: Let the European Union deal with Africa and let the United States deal with South America. But when it comes to perceptions of each countrys relative influence in the world, much larger shares in most nations see Chinas influence growing than say the same of the U.S. Below are five key findings comparing international attitudes toward the two countries, drawn from nationally representative surveys conducted from Feb. 14 to June 3, 2022, among 24,525 adults in 19 nations. It particularly takes issue with the building airstrips and hangars, as well as stationing anti-aircraft and anti-missile systems in the Spratly Islands, Deutsche Welle said. The new imperialism. Pew Research Center does not take policy positions. The Hong Kong authorities have arrested more than 110 people in national security investigations over the past year, charging 64, including most of the city's best-known pro-democracy activists . In 2000, trade between China and Africa had been at a mere $11 billion. These Africans spoke German, knew Germany, but rather than thanking Germans for being a different culture, they still blamed the Germans. Note: Gatestone appreciates your comments. Our leadership ignored this as if special raw materials scarce and extremely valuable necessary for next generation tech was not a national security issue thanks to the Clintons and Obama. Those nations like Sri Lanka or Pakistan have floundered and unable to pay Russia will be no exception and tragically African nations too will fall into this trap. Then in the future I won't have to hear about how the white man is the source of the problems in Africa. 2023 BBC. current data from the United States and around the All rights reserved. FILE - China Shipping Company containers are stacked at the Virginia International's terminal in Portsmouth, Va., May 10, 2019. In June 2020, soldiers clashed in hand-to-hand combat as a border dispute threatened the uneasy truce between the worlds most populous nations. Their disagreements centre on 205 islands on the YaluRiver, which runs on the border between the two nations. Why Don't Americans Trust the Biden Administration on Iran? A powerhouse in global trade, China has more shipping ports at. Xi must have, and took them very seriously. The Laos railway is far from the only risky project that Chinese state banks have funded - and yet, AidData says China remains the financier of first resort for many low and middle income countries. The U.S. is also seen substantially more positively than China in Japan (+58 points) and Australia (+40 points). 2023 Gatestone Institute. But while Taiwan has proved to be the most troubling flashpoint in recent months, there are 16 other countries embroiled in territorial disputes with China. (Ideology was not asked in Japan, Malaysia or Singapore.). The prominent countries with whom China is involved in severe disputes apart from India are Vietnam, Indonesia, Malaysia, Phillipines and Japan. The Week is part of Future plc, an international media group and leading digital publisher. Not too long ago China received foreign aid, but now the tables have turned. "Population does not equal national power," said Zhang Han, 29, a business student from the eastern province of Shandong. Commenters' email addresses will not be displayed publicly. Such loans don't show up in official accounts of government debt. This gap in perceptions is largest in Australia, where more than three times as many say Chinas influence is growing than say the same about American influence (73% vs. 19%). However, international maritime law stipulates that a submerged rock outside of a nations territorial sea generally measured as 12 nautical miles cannot be claimed as territory by any nation. The hostility, which triggered an angry protest from Manila, was the latest flare-up in the South China Sea, with China claiming virtually the entire waterway and transforming seven disputed shoals into missile-protected island bases. Also, working with Western official financiers is bureaucratic and subject to long delays.". It is estimated that 12 percent of Africa industrial production, or $500 billion annuallynearly. As the new preferred lender to low-income countries, China held 37 percent of these nations' debt in 2020. . All rights reserved. China is now Africa's largest trade partner. All surveys were conducted over the phone with adults in Canada, Belgium, France, Germany, Greece, Italy, the Netherlands, Spain, Sweden, the United Kingdom, Japan, Malaysia, Singapore and South Korea. And 3) Forecasters of global economic activity are missing an important swing factor influencing aggregate global demand. England and Wales company registration number 2008885, Subscribe to TheWeek. Chinese Foreign Ministry spokesman Wang Wenbin stressed that it was important "to look at not just the size, but also the quality of its population.". Most populous nation: Should India rejoice or panic? VideoOn board the worlds last surviving turntable ferry, I didnt think make-up was made for black girls, Why there is serious money in kitchen fumes. under the Creative Commons License CC BY-ND 3.0, may be used has called the level of debt many countries once again . While China has offered to negotiate, Philippines has said these territories are non-negotiable and have always been part of their country. Reports show that a substantial number of African countries have taken Chinese loans since 2000, totaling a whopping $124 billion by 2016 . There are now more than 40 low and middle-income countries, according to AidData, whose debt exposure to Chinese lenders is more than 10% of the size of their annual economic output (GDP) as a result of this "hidden debt". China continues to deepen its engagement in Africa on all levels. India, its neighbor and fierce rival, will soon overtake China, Beijing residents focus on superpowers as India's population exceeds China's, lifting almost 800 million people out of poverty, fell last year for the first time in six decades. However, the plan might simply have come along too late. And that's news even to Chinese officials themselves. On board the worlds last surviving turntable ferry. Read about our approach to external linking. At the time, the wall was often framed as an attempt by China to keep dissidents from fleeing the country, The Diplomat said. But prominent voices in China . This recent increase in the incidence of sovereign debt restructurings of Chinese debt may have a benign interpretation, but given the slower growth and lower commodity prices of recent years, it may well be a sign of brewing liquidity and solvency problems in numerous developing countries. What China's One Belt, One Road really means. Gatestone Institute is a 501(c)3 not-for-profit organization, Federal Tax ID #454724565. 'The Global Gateway': More Empty Promises from the EU? While China has continuously been deepening its involvement in Africa, the US has not come anywhere near China's engagement and high-level attention. The BBC is not responsible for the content of external sites. In Hungary, which was last surveyed in 2019, views of the U.S. are down while opinion of China has not shifted. Different G7 partners will have different geographic orientations, but the sum of the initiative will cover low- and middle-income countries across the world.". Almost all of this lending is official, coming from the government and state-controlled entities. has questioned whether the "debt trap" narrative strictly applies, It argues that such confidentiality is common practice, Serena Williams announces pregnancy at Met Gala, Shooting suspect was deported four times - US media, Met Gala 2023: Stars celebrate Karl Lagerfeld, New record as 4.56m Indians take flights in a day, Japan to ban upskirting in stronger sex crime laws, Palestinian hunger striker dies in Israel prison. China is one of the world's largest single creditor nations. To find out more, please review our Privacy and Cookies Policy. Atena Daemi, a popular 29-year-old women's rights activist and campaigner against the death penalty, was violently re-arrested by Iranian authorities on November 26, 2016. That's what partly stagnated the economy of neighboring Japan, despite it already being a high-income country. One would think that by now the globalist fools of the World Economic Forum (not to mention our own government) would have realized the absolute folly of engaging with such a totalitarian regime devoted to world dominance. How will China collect the debt? Be it Ladakh or South China Sea, China seems to have been making unfounded claims in different parts of the world for a long time. However, China is North Koreas only remaining ally and never before has North Korea been such a threat. Countries can be difficult borrowers, Gelpern explains, and it's not practical to expect them to hand over a physical asset like a port if they're unable to pay their debts. As China's economy becomes more integrated, these regional differences are taking . In June 2021, in an extremely belated attempt to counter China's Belt and Road Initiative, the Biden administration together with the G7 launched a new global infrastructure initiative, the Build Back Better World. Both countries also have a long history of invading other countries. Everyone who took part in the U.S. survey is a member of the Centers American Trends Panel (ATP), an online survey panel that is recruited through national, random sampling of residential addresses. This has led to its dispute with several countries, such as Taiwan, the Philippines, Indonesia, Vietnam, Japan, India, South Korea, North Korea, Singapore, Brunei, Nepal, Bhutan, Laos, Mongolia and Myanmar. However, Laos had to take out a $480m loan with a Chinese bank to fund its small part of the equity. People in Greece and Italy, for example, see both the U.S. and China less favorably today than in 2021. PM Modi took a dig at China by saying that the era of expansionism is over. Laos has a 313-mile border with China that runs from the tripoint with Myanmar in the west to the tripoint with Vietnam in the east. "America cannot ignore Africa. At a G7 meeting in June, the US and its allies announced the G7 adopts spending plan to rival China's influence, which promises to fund global infrastructure projects that are financially and environmentally sustainable. On the borrower side, debt is accumulating fast: For the 50 main developing country recipients, we estimate that the average stock of debt owed to China has increased from less than 1% of debtor country GDP in 2005 to more than 15% in 2017. China's growing role in international finance has remained obscure, mostly due to a lack of data and transparency. For individual content and infographics in your Corporate Design, The new intelligence suggests around 20,000 Russian soldiers have been killed in the . China has been a major player in Africa politically and economically and secured long term contracts to guarantee supply of metals, minerals and hydrocarbons to meet the needs of its industry for the coming decades. BRI aims to build an economic and infrastructure network connecting China with Europe, Africa and beyond, and has already strengthened China's global influence from East Asia to Europe by making countries worldwide increasingly dependent on China. Africa's challenges, opportunities, and security interests are inseparable from our own. Our competitors clearly see Africa's rich potential. This approach is rarely seen in loans issued by western lenders. Summary. Between 2000 and 2017, other countries' debt owed to China soared ten-fold, from less than $500 billion to more than $5 trillion, according to the study from Germany-based think tank the Kiel . Copyright 2023 Gatestone Institute. Since 2013 a Chinese Coast Guard ship has been stationed near Luconia Breakers, an area about 80 nautical miles north of Sarawak. (+1) 202-419-4300 | Main But this does not comprehend the severity of the situation Africa finds itself. Both claim that it falls within their exclusive economic zones. non-commercial websites. Many of Chinese premier Xi Jinpings disputes centre on control of the South China Sea. Since 2013, Argentina, Mongolia, Pakistan, Russia and Turkey all have made use of their RMB swap lines in periods of market distress. And by comparison, the US is spending about $37bn in any given year to support global development activities," says Brad Parks. Another South China Sea dispute. It conducts public opinion polling, demographic research, media content analysis and other empirical social science research. In 2018 alone, China acquired over 20 deep water and air ports from several countries around the world. When adding portfolio debts (including the $1 trillion of U.S. Treasury debt purchased by Chinas central bank) and trade credits (to buy goods and services), the Chinese governments aggregate claims to the rest of the world exceed $5 trillion in total. "Their message is: 'You're going to repay us before anyone else because we're the only ones asking for this prized possession'. In an interview with the BBC, Richard Moore, the head of Britain's foreign intelligence agency MI6, said China uses what he called "debt traps" to gain leverage over other countries. "Confidentiality agreements are very common in international commercial loans", says Professor Lee Jones at Queen Mary University of London. In 12 of the 18 countries surveyed, including the U.S., those under age 30 have more favorable views of China than those ages 50 and older, with the largest difference in Japan. One example often cited by critics of China is Sri Lanka, which years ago embarked on a massive port project in Hambantota with Chinese investment. China once tried to check its population growth with the now defunct one-child policy. Western workers should stay out of Africa, its too dangerous. . An analysis finds 50% of Chinas loans to developing countries go unreported. Most of the major industrialised nations share information about their lending activities through membership of what's known as the Paris Club. The required repayment period for a Chinese loan is also generally shorter - less than 10 years, compared to around 28 years for other lenders' concessional loans to developing countries. "America cannot ignore Africa. Over an 18-year period, China has granted or loaned money to 13,427 infrastructure projects . After the Ukraine conflict has been stabilized and Putin has been forced out of power (eliminated) Russia will be reduced to a second rate power at best (with nuclear weapons) with only its petroleum products to sell to Europe. Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. Outside of Singapore and Malaysia, people in every nation surveyed have more confidence in Biden than in Xi and in Poland and Sweden, the difference is greater than 60 percentage points. Feel free to contact us anytime using our contact form or visit our FAQ page. This problem is aggravated by the fact that many Chinese official loans have collateral clauses, so that China may be treated preferentially in case of repayment problems. In Germany I met several African immigrants (in the tech business), and all of them repeated a similar theme, that back home things were wonderful before the colonialists appeared. "Only by facilitating much, much better education and opportunities for our young can we realize the hope of an 'Indian century,'" it said. But it has over recent years improved ties with China to counterbalance its long-standing relationship with India, its giant neighbour to the south.. Fears that China could launch an invasion of Taiwan have dominated headlines for months, fuelled by a series of incendiary interventions by senior officials in Beijing. The articles printed here do not necessarily reflect the views of the Editors or of Gatestone Institute. Dollar amounts please. "In an average year, China's international development finance commitments amount to about $85bn. Research by AidData, an international development body at William & Mary University in the US, finds that half of China's lending to developing countries is not reported in official debt statistics. Their respective positions started to change in 1942-43, when in the run-up to the November 1943 Cairo Conference Chiang Kai-shek started to claim that Taiwan should be "returned to China." Not. The two countries are sparring over the Scarborough Reef and the Spratly Islands. Please note that the code must be integrated into the HTML code (not only the text) for WordPress pages and other CMS sites. 2023 BBC. For an optimal experience visit our site on another browser. In China, 26% of the workforce are classified as "skilled.". While Biden vegetates Xi is trick or treating across Africa.It's the American version of "while Rome burned".It will be interesting to see how Red China deals with Islamists. A median of 66% across 19 countries say China's influence on the world stage is getting stronger, while just 32% say the same about the U.S. The Covid-19 pandemic has complicated the already difficult repayment of Chinese loans even more. Here are the questions used in this report, along with their responses, as well as its methodology. In the long run these Belt and Road debt traps created by the China CCP will backfire on China because the African nations will default on them just like they default on IMF and WB loans. (+1) 202-857-8562 | Fax India's population growth is slowing down. In each country surveyed, more than half of adults say Chinas influence in the world is strengthening. 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