Tuesday, January 7, 2020

CHINA'S PREDATORY LENDING IN CHINA

  Some African countries are beginning to push back against China’s predatory strategy.
  In mid-2019, Tanzania suspended plans to team up with China to construct East   Africa’s biggest port in Bagamoyo, Tanzania. China Merchant Holding International was slated to be the sole port operator.
   Citing disagreements with Chinese investors over “exploitative and awkward” demands, Tanzanian President John Pombe Magufuli called off the project.
   “They want us to give them a guarantee of 33 years and a lease of 99 years, and we should not question whoever comes to invest there once the port is operational. They want to take the land as their own but we have to compensate them for drilling construction of that port,” Magufuli told The Economic Times of India last year.

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