Bad News for China - $10 Billion African Port Project stalled !!
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Reference -
https://www.thecitizen.co.tz/News/Why-China-has-become-leading-foreign-investor-in-Tanzania/1840340-5117574-ryrrq4z/index.html
https://www.reuters.com/article/us-tanzania-port/tanzanias-china-backed-10-billion-port-plan-stalls-over-terms-official-idUSKCN1ST084
https://en.wikipedia.org/wiki/Bagamoyo_Port
Hello Friends, welcome to Real Quick Info channel, Please subscribe our channel, like and share this video. Now you can also support us by becoming our patrons. Lets discuss our Real Quick Analysis.
You all know, With more than 3 Trillion Dollar reserves, China hold world's biggest foreign currency reserves and with more than 400 Billion Dollar annual trade surplus, China is world number one country in trade surplus.
That's why Chinese king has been roaming around with check book in hand.
However, with in two years, American President Trump has taught Chinese king how to count bills.
Please consider the 55 years old rock solid relationship in between China and Tanzania.
Eight Years ago, As far as foreign investment in Tanzania is concerned, China was at sixth position. but Now China is largest foreign investor in Tanzania.
In this background, back in the year 2013, Chinese king has signed mega 10 Billion Dollar deal with Tanzania on Bagamoyo port.
Begamoyo port project is planned as one of the largest infrastructure projects in Tanzania.
This port has been planned to be bigger than Kenya's Largest port Mombasa.
Though the framework agreement was signed back in the year 2013, Since then negotiations have been going on regarding terms of Chinese infrastructure investments.
Despite ground breaking of this port in the year 2015, Actual construction could not start.
But now The negotiations have hit the road block because china has given commercially un-viable conditions to Tanzania.
The result is, Tanzania clearly rejected the terms and asked China to follow the give and take spirit to reach the deal.
Interestingly, Officials of Tanzania has said, with these terms, it would be loss to Tanzania because China is looking at its own profit first. Moreover China should stop treating Tanzanians as schoolkids and act like their teachers.
As per Chinese side, The project was purely commercial and China will not invest in another white elephant project.
You see, Smart China is now talking about Commercial feasibility of projects before investing in it.
It appears, President Trump has taught China the principles of economics.
Anyways, you all know, when you lend 1 Lakh rupees to someone, it's his problem to repay you, but when you lend your whole earning to a person for example 1 crore, its your problem to collect the repayment.
While digging grave of debt for poor countries, Rich China forgot that it might have been digging a graveyard of debt for itself.
Within two years of trade war with America, China has realized that it has been building a house of cards and all it needs a push to fall.
the result is, biggest port project of Tanzania under belt and road initiative is hanging now.
Forget Tanzania, where China has developed cold feet to invest more, China will be fortunate if it manages to get China Pakistan Economic Corridor project profitable.
If China had thought of commercial feasibility of projects few years back, today it would not have been begging for security from The generals sitting in Rawalpindi.
Good luck to China to collect repayment from All weather friend Pakistan.
Moreover, After Australian election results, Chinese worst nightmare came true yesterday when Prime minister Modi won Indian election.
It appears, now a days, Chinese king would be scared of reading news papers.
Chinese king has this habit of showcasing himself as most powerful person in the world. If Chinese king has confidence in his might, he can conduct free and fair election in China.
Today's very easy question is, Due to fear of loss, To which friendly country China is not able to provide funding for port project?
Please answer today's question in comment box below.
A number of our viewers, have correctly answered the easy question, which was asked in our last video. Today's lucky winner is Sita Ram Gupta .
Please find the reference links of this video in the description box below.
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