China Debt Crisis as Belt & Road Initiative Loans Default & China Faces Economic Collapse - Joe Blogs

[Irish_Dem]

1. Wow China has really screwed up.

Xi thought he was being so clever, loaning huge amounts of money, $billions to various countries and building large projects all over the world. He thought he would sit back and get back the loans with interest. And have a stake in the infrastructure across the globe. Chinese construction companies were raking in the dough. He would have a lot of power, influence and cash rolling in.

But then the economy tanked after Covid and the Russian invasion of Ukraine, and no one can pay back their loans to China. So China has to decide whether to write off these loans or throw more money at them. And the Chinese companies will be out of luck and out of jobs.

Meanwhile China's economy at home is tanking.

Poor Xi. He is not the financial and geopolitical genius he thinks he is.
No wonder he has to keep the focus on invading Taiwan.