Why is China receiving foreign aide? Don't they make 99% of everything?
Good catch. China arguably gives more than any other country besides the US. The catch is that they do everything by loans and not gifts.
So, they give a $2B loan to build a port or a dam. Then the host country defaults on the loan and then China can decide if they want to default on the loan or take ownership of the port / dam / other project.
It's really just a circular game that both US and China plays well.
- China gives a loan (US gives 'foreign aid', same exact thing.)
- Terms stipulate that the recipient has to use Chinese contractors and equipment. (Or if military, Chinese weapons.)
- The money is funneled right back to Chinese companies.
- Rinse and repeat. Great global game of influence peddling and economy boosting.
Ref.(https://multipolarista.com/2022/08/20/china-forgives-debt-africa/)
(post is archived)