If those nations are not able to repay the Chinese debt in a given time, then China will be entitled to those construction works.
What India should have done, the EU will now do. China has spread its old Chinese strategy of 'Silk Mahapath' by giving it a new name in Asia and Africa. He has tied almost all the neighboring countries of India in his bondage. Almost everyone has become his debtor.
China has planned to connect the countries of Asia and Africa with a huge road, it is luring them to build many things like ports, railways, canals, power stations, gas and oil pipelines etc.
Through these construction works, these countries are also showing dreams of getting tax worth billions and trillions of rupees. He has trapped more than 65 countries in his clutches.
So far 139 countries have agreed with this Chinese initiative. The total GDP of these countries is 40 percent of the global GDP. So far, if you read the original documents of the countries of Asia and Africa to which China has given rough loans, then you will be surprised to know their terms.
neo-colonialism
If those nations are not able to repay the Chinese debt in a given time, then China will be entitled to those construction works. China will operate them and recover its amount with interest or will take some other places under its control. In a sense it is neo-colonialism.
So far 139 countries have agreed with this Chinese initiative. The total GDP of these countries is 40 percent of the global GDP. So far, if you read the original documents of the countries of Asia and Africa to which China has given rough loans, then you will be surprised to know their terms.
EU Initiatives
India had to compete with it, at least in South and Central Asia. It was supposed to introduce macro-familism in the region, not neo-colonialism, but now the European Union will do this work. It has announced that it will start a 'World Mahapath' in competition with China's Silk Mahapath.
It will invest $340 billion and provide grants for inclusive development to Afro-Asian countries. Like China, he will not indulge in interest. It will try to provide financial help to these developing countries in pollution-control, education, health, rail, airport, road-canal construction and many other areas, but will also cooperate in every way so that its trade with these countries will also be there. Increase and the people of these countries should also get new jobs.
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