Borrowing Chinese Money for Vanity Projects
One thing about Chinese loans is that they never force you to borrow their money and they never tell you what to spend the borrowed money on. Their approach is more like; we have some money to lend you and so what do you want to build? In the past we have had strings attached loans from the USA and UK sources and they dictate what we can spend the loan on, like importing potatoes from the USA. Asking if you want a loan and what do you want to build are questions that can only be asked of and answered by, mature people with vision, innovation, and imagination. Because the answers to these questions must be centered around our collective needs as a society and not what we want. We see some African countries when faced with Chinese money, go directly to what they want bypassing their country’s needs. Angola decided to borrow Chinese money and built a huge mainly uninhabited city called Kilamba Kiaxi. Borrowing money to build vanity projects is dangerous especially when you are a poor ...