Ever since news broke about the government’s batter trade with China and a $50 billion 100-year bond with the world’s most populous country, cold fear has gripped majority of Ghanaians. This was due to the nature of the Chinese in debt recoveries.
Soon news started popping up on social media about countries which were all but colonised by China, because they failed to live up to their debt repayment obligations.
Firstly, one could be pardoned for taken these news items with a pinch of salt due to the fact that most news on social media turn out to be fake. But, when some channels like Adeola Fayehun’s Keeping It Real is on the bloc, then one must accept that she will tell the truth, no matter how satiric and serious the matter is at hand.
China does not play when it comes to pay-back time, and the same smile it loaned out the money will be used to demand repayment. But, this time, it would not be a smile of pleasantries, but one of an entrenched position.
Sri Lanka borrowed from China but defaulted on repayment, and its very modern Hambantota Port was taken over by Chinese firms, which will operate it for 99 years and repatriate all the profits.
Djibouti in Africa is about to lose its modern port to China because of defaulting in loan repayment.
There is news that Zambia is also about to lose its power utility, ZESCO, to China, and even go on to lose its sovereignty to the Asian country, due to mounting debts. And Kenya is also about losing its sovereignty to China due to high indebtedness.
Such news certainly can send cold chills in one’s spine for a people who have come out from colonialism barely sixty years ago.
Countries like Nepal and Pakistan withdrew from a $2 billion and $14 billion China loan agreement respectively, because the conditions, which included a full takeover of facilities built with the money, should they default.
In Africa, no country had made such a move, even though there could be clauses in the agreements which mandate China to take over certain key installations of indebted countries.
What is more worrying is that China is scavenging all over Africa-South of the Sahara for gold and minerals, and in the process leaving behind degraded landscapes not fit for regeneration of vegetation, cultivation of food, and the breeding of aquatic animals. Water sources are polluted and green lands left to be deserts.
What is equally annoying is that China actually ‘steals’ these minerals and finds a way of taking them out of the countries without paying any duties. It is most likely that these minerals are loaned back to the African countries with legally backing documents to show.
So while China walks away freely with $50 billion worth of gold, diamonds and other minerals it ‘stole’, it will come back and loan the same country a mere $5 billion and demand payment or risk losing sovereignty, which means full colonisation.
Surely, this cannot happen to Africa. No, not again. The Whites came and took our mineral, natural and human resources, and, at the same time, took over our lands by colonising us. But, at least, after they left, they never came back to take over our countries which they developed, or seize any important installation whenever we defaulted in repaying our loans.
China, which wants to become a world power by fire by force, has adopted this evil policy of taking full control of countries it assisted in making poorer, and rule them for ninety-nine years. One can imagine what will happen to Africa if China becomes the world’s super power.
(Watch this page for more on China and Africa).