this post was submitted on 26 Jun 2024
19 points (100.0% liked)
Environment
3925 readers
1 users here now
Environmental and ecological discussion, particularly of things like weather and other natural phenomena (especially if they're not breaking news).
See also our Nature and Gardening community for discussion centered around things like hiking, animals in their natural habitat, and gardening (urban or rural).
This community's icon was made by Aaron Schneider, under the CC-BY-NC-SA 4.0 license.
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
"China-backed" is a bit of an overstatement... and understatement at the same time.
China is giving the loan to reap some interests... but it wouldn't be the first time when they give out a loan, the local company is unable to complete a project staying inside the budget, then China refuses to increase the loan, but still requires repayment of the initial one, with interests, while the locals suffer from both a half-done project, and having to pay interests through taxes when the local company goes under... while it gets bought for pennies by the Chinese company.