Loans Baby! To Africa! Apparently all those nice new roads in Djibuti mah bootay are based on free money.
But China has an Achillies heel. They know little about Africans or negros. African refugees have actually been flooding into China now as part of the Soros – Make the whole World Black and then when it dies I can rule it all” initiative.
So they are loaning to Africa by printing money. who cares it costs nothing to print money they don’t even record it on their books to the IMF or … BIG DADDY – the BIS. Meh, those are western tools. This is China’s new empire.
United Nations trade body UNCTAD estimates that Africa’s external debt stock rapidly grew to $443 billion by 2013 through bilateral borrowing, syndicated loans and bonds. But since then sharp currency devaluations across the continent have pushed up the cost of servicing this debt pile, which continues to grow.
“We all thought (Africa) was going to be the next emerging market. Governments should have been getting rid of dollar liabilities and moving into local currency liabilities, which is what Brazil did 20 years ago and Mexico 30 years ago,” said Bryan Carter, head of emerging debt at BNP Paribas Investment Partners.
Nope, deys borrowin again! In 2005 the G8 voted to relieve Africa of its nearly 500 Billion in debt. 14 African countries immediately became debt free. They did something similar in 1999. Africans never learn, keep borrowing, and keep getting into massive debt. Why? Because they are stupid and corrupt that’s why. But now they have a tiger to deal with in China, and it’s doubtful China will bow to the negro and hand over money for free. So what is exactly China’s plan?
16 African countries have borrowed roughly $30 billion in bonds since 2007. In addition, China has extended hundreds of billions of dollars in loans and some countries have new debts to multilateral lenders.
“While Africa’s current external debt ratios currently appear manageable, their rapid growth in several countries is a concern and requires action if a recurrence of the African debt crisis of the late 1980s and the 1990s is to be avoided,” UNCTAD warned last year.
Of course, the west knows a little bit about loaning to Africa since they forgave hundreds of billions in loans to Africa in 2005. Every single time they have loaned money to Africa after about 15 years of no payments the Africans go “We got Nuh Money tah Pay” so the debts are forgiven. How many times has the west forgiven billions of dollars in loans to africa? Hundreds of times. It’s as if we know these mental children will never repay them from the beginning. But does China know that? What if China goes – “You no pay, we take country. Dijbu… did… butay… Crap we call you Fung Shu now. We take country!”
We asked Chinese Ambassador Hu Mi if there was a longer term plan if Africa defaults on these mega loans.
“Oh we pwan baby we pwan. West freed Africans from slavery but China no have that tradition. In China we still swaves today! Keep borrowing Djibuta keep taking the money…. ha Hah HEY HAH! <shakes a slave manacle and chains in the air>” screamed a maniacal Ambassador MI.
Africa is on the road to slavery and China will be quite ready to bear their yokes, without any white guilt. Call them racist, their tiny eyes won’t even flinch.