Read our research on: Congress | Economy | Trust in Media. After the Ukraine conflict has been stabilized and Putin has been forced out of power (eliminated) Russia will be reduced to a second rate power at best (with nuclear weapons) with only its petroleum products to sell to Europe. AI chatbots 'may soon be more intelligent than us', Russia troop deaths hit 20,000 in five months - US, BP profits of 4bn in three months spark criticism, The 17 most eye-catching looks at the Met Gala, The burden of being cricket legend Tendulkar's son, 'My wife and six children joined Kenya starvation cult', On board the worlds last surviving turntable ferry. China has illegally occupied a 38,000 sq km of India's land in Aksai Chin. Because the West is NOT offering what these countries really need (same happens with Latin America btw). In the absence of a serious coordinated international effort, China will go on to fill that infrastructure gap, as it continues to consolidate its influence in Africa while the US lags behind. Almost all of this lending is official, coming from the government and state-controlled entities. ", Retired teacher Liu Quan, 57, said he doesn't care about the population news at all. Russia and China both seek to convert soft and hard power investments into political influence, strategic access, and military advantage. For generations I have heard in America that all of the problems in Africa are because of (white) colonialism. This raises serious questions about the ability of this titan one on which the global economy has come to rely to maintain, let alone enhance, its economic status. Currently, only 13 countries (plus the Vatican) recognise Taiwan as a sovereign country. In Malaysia, Singapore and Spain, the opposite is true. April 11, 2022 at 5:00 am. Both will have almost 1.43 billion people, according to the United Nations World Population Dashboard well more than a third of the planet's 8 billion-plus people between them. Since 2010 well over $20bn of Chinese . FILE - China Shipping Company containers are stacked at the Virginia International's terminal in Portsmouth, Va., May 10, 2019. In 12 of the 18 countries surveyed, including the U.S., those under age 30 have more favorable views of China than those ages 50 and older, with the largest difference in Japan. Workers in Jiangsu province, seen here producing equipment for export along China's Belt and Road, The Yumo railway will link China and Laos - but experts say Laos will struggle to pay back the debt, President Xi has sought to reassure others after criticism of China's global infrastructure projects, What is China's One Belt, One Road? But developing country loans are just one element of Chinas overseas lending activities. And that's news even to Chinese officials themselves. Contact: info@gatestoneinstitute.org In about a third of the places surveyed, more educated people are also more likely to say that U.S. influence is getting weaker. Over an 18-year period, China has granted or loaned money to 13,427 infrastructure projects worth $843bn across 165 countries, according to the AidData research lab at William & Mary, a university in the US state of Virginia. BRI projects were more likely to be associated with corruption, labour scandals or environmental issues than other Chinese development deals. The China CCP prefers to corrupt the political establishment of the countries that it targets for increased influence, which it has been highly successful at through its' Belt & Road Program initiatives. China's growing role in international finance has remained obscure, mostly due to a lack of data and transparency. Start your free trial, French say coronation quiche is nothing but a savoury tart, Ukrainian grain: rousing the fury of east Europes farmers, Ten Things You Need to Know Today: 2 May 2023, New TV crime dramas and older shows to binge, What the One China principle means for future of Taiwan, High drama: India and China brawl in the Himalayas, Carnegie Endowment for International Peace, most well-known of Chinas territorial disputes. Over an 18-year period, China has granted or loaned money to 13,427 infrastructure projects . This website uses cookies to provide you with better services. But it has over recent years improved ties with China to counterbalance its long-standing relationship with India, its giant neighbour to the south.. The population is important, so is talent, he told a daily briefing this week. "And much of China's development financing is fundamentally a commercial operation.". 2023 Gatestone Institute. It will be very near impossible for the US or others to catch up on that, especially with the planned B3W initiative, because that initiative is not focused on much-needed tangible investments. Why China Is Taking over Africa's Resources One Country at a Time. The western media are constantly blaming Europe's and the US policies in Africa as "racist" "neocolonialist" "ill-advised" "self-serving" etc with hardly a word on China's actions on that continent. In June 2020, soldiers clashed in hand-to-hand combat as a border dispute threatened the uneasy truce between the worlds most populous nations. (Ideology was not asked in Japan, Malaysia or Singapore.). Along with Taiwan, this is perhaps the most well-known of Chinas territorial disputes. After pursuing economic liberalization in the 1970s, its economy has mushroomed to become the second largest in the world behind the U.S., with a gross domestic product almost seven times that of India, which is placed fifth. The Peoples Republic has always been an active international lender. In 2015, Chinese state media claimed that an attack on one of its remote checkpoints in Inner Mongolia was due to a provincial border dispute. internet, telecommunications and consumer electronics Chinese officials and state media said America and the West were focusing only on population size, rather than education, industrial output and economic clout the last one seeing China dwarf India several times over. daily and featuring the latest statistics from the media, Despite the vying population statistics, China is far more wealthy than India. "China continues to gain strength while we are led by weaklings. The country is accused of leveraging massive loans it holds over. In addition, many Chinese loans are backed by collateral, meaning that debt repayments are secured by revenues, such as those coming from commodity exports. It particularly takes issue with the building airstrips and hangars, as well as stationing anti-aircraft and anti-missile systems in the Spratly Islands, Deutsche Welle said. This is the widest gap observed among all 19 countries. Central bank swap lines can be understood as standing lines of credit, where central banks agree on exchanging their currencies to facilitate trade settlements and to address liquidity needs. The initiative, however, comes across as far too little, too late. "I'm sceptical that Western initiatives will make much of a dent in the Chinese programme," says David Dollar, senior fellow at the Brookings Institution and the former US Treasury representative in China. Here are the questions used in this report, along with their responses, as well as its methodology. please visit our agency website, Your contact to the Infographics Newsroom, Find your information in our database containing over 20,000 reports. Xi must have, and took them very seriously. G7 adopts spending plan to rival China's influence, AI chatbots 'may soon be more intelligent than us', Russia troop deaths hit 20,000 in five months - US, BP profits of 4bn in three months spark criticism, The 17 most eye-catching looks at the Met Gala, The burden of being cricket legend Tendulkar's son, 'My wife and six children joined Kenya starvation cult', On board the worlds last surviving turntable ferry. They found thatChina tends to lend at market terms, meaning at interest rates that are close to those in private capital markets, rather than the concessional rates offered by other official entities, such as the World Bank or IMF. For example, if a nation indebted to China turns to the IMF, officials should be aware that any funds the IMF disburses may be used to pay another official creditor, China, rather than be used to blunt market strains. "In an average year, China's international development finance commitments amount to about $85bn. Beijing began raising the question of sovereignty over the islands in the the 1970s when evidence of oil reserves in the regionsurfaced. CHINA is "colonising" smaller countries by lending them massive amounts of money they can never repay, it's been claimed. However, Laos had to take out a $480m loan with a Chinese bank to fund its small part of the equity. "The loan that China's Eximbank made to cover part of the equity really showcases the urgency of the Chinese state to push through the project," explains Wanjing Kelly Chen, research assistant professor at the Hong Kong University of Science and Technology. As of 2018, the PBoC has signed swap agreements with more than 40 central banks (ranging from Argentina to Ukraine), providing the right to exchange more than U.S. $550 billion of their own currencies for Chinese currency (the renminbi or RMB). February 26, 2020. It is beyond comprehension how come the West has remained indifferent and overlooked the sinister colonization model China is building in Africa. This gap in perceptions is largest in Australia, where more than three times as many say China's influence is growing than say the same about American influence (73% vs. 19%). AidData tallied underreported debt amounting to $385bn. The state broadcaster CCTV said China, which the World Bank credits with lifting almost 800 million people out of poverty in the past 40 years, was being slandered despite creating a miracle of sustainable and stable economic development with a huge population.. The authors . The AidData researchers - who have spent four years tracing all of China's global lending and spending - say that Chinese government ministries are regularly going to them for information on how Chinese money is being used overseas. It says: "There is not a single country that has fallen into [a] so-called 'debt trap' as a result of borrowing from China.". Now it's desperately trying to arrest a falling birthrate that means that as in many Western countries a shrinking young population will struggle to support a growing number of retirees. This problem is aggravated by the fact that many Chinese official loans have collateral clauses, so that China may be treated preferentially in case of repayment problems. "Over the last two decades, and especially under General Secretary Xi's leadership since 2012, Beijing has launched new initiatives to transform Africa into a testing ground for the export of its governance system of state-led economic growth under one-party, authoritarian rule. All rights reserved. "I think our conclusion is that they were being muscular and sophisticated in these contracts. India may have overtaken China in total population, but UN data also shows that its growth rate has slowed. The US-China Economic and Security Review Commission wrote in its 2020 Report to Congress: "China is dependent on Africa for imports of fossil fuels and commodities constituting critical inputs in emerging technology products. The region has also previously been the site of violent tensions between minority ethnic Mongolians and Han Chinese. Between 2007 and 2020, China invested $23 billion in infrastructure projects in Africa, according to the Center for Global Development, a US think tank. Surveys were conducted face to face in Hungary, Poland and Israel and online in Australia. "The U.S. and Japan have smaller populations, but it doesnt mean theyre not strong powers. Since 2013, Argentina, Mongolia, Pakistan, Russia and Turkey all have made use of their RMB swap lines in periods of market distress. VideoOn board the worlds last surviving turntable ferry, I didnt think make-up was made for black girls, Why there is serious money in kitchen fumes. In 2000, trade between China and Africa had been at a mere $11 billion. Both claim that it falls within their exclusive economic zones. The Statista "Chart of the Day" currently focuses AidData says China remains the financier of first resort for many low and middle income countries. Most populous nation: Should India rejoice or panic? Please note that the code must be integrated into the HTML code (not only the text) for WordPress pages and other CMS sites. Pew Research Center does not take policy positions. China and India are the world's population behemoths but their demographics are very different. The AidData researchers found that the Belt and Road project is facing its own issues. However, attitudes vary widely within the Asia-Pacific region. However, international maritime law stipulates that a submerged rock outside of a nations territorial sea generally measured as 12 nautical miles cannot be claimed as territory by any nation. Over the past two decades, China has become a major global lender, with outstanding claims now exceeding more than 5% of global GDP. has called the level of debt many countries once again . BRI aims to build an economic and infrastructure network connecting China with Europe, Africa and beyond, and has already strengthened China's global influence from East Asia to Europe by making countries worldwide increasingly dependent on China. leaving Sri Lanka saddled with growing debts. Against this backdrop, much more work is needed to analyze the characteristics and potential impact of Chinas lending around the world. But prominent voices in China . First, official surveillance work is hampered when parts of a countrys debt are not known. At a G7 meeting in June, the US and its allies announced the G7 adopts spending plan to rival China's influence, which promises to fund global infrastructure projects that are financially and environmentally sustainable. This Pew Research Center analysis focuses on public opinion of the United States and China in 19 countries in North America, Europe, the Middle East and the Asia-Pacific region. According to the BBC, a leaked government report is the first time there have been official claims from Nepal of Chinese interference in its territory. Some African shave already expressed their alarm at the harm to their economy, employment and resources caused by China and its BRI projects. As we mentioned in our previous post, the US has offered a latest estimate of Russian troops killed in Ukraine. They are hedging their bets and making big bets on Africa," he said. For individual content and infographics in your Corporate Design, China has also claimed its right over all of North Korea on historical grounds (Yuan Dynasty, 1271-1368). Most of the line is owned by the Chinese-dominated railway group, but under the murky terms of the deal, the Laotian government is ultimately responsible for the railway's debt. Since taking power in 2012, Chinese President Xi Jinping has helped cement China's position as a global superpower -- and pushed forward an aggressive foreign policy, making bolder moves in . China's economy grows 2.3% in 2020 as recovery quickens. Atena Daemi, a popular 29-year-old women's rights activist and campaigner against the death penalty, was violently re-arrested by Iranian authorities on November 26, 2016. restructured and largely forgiven after the turn of the millennium, Our infographics team prepares current information in a clear and understandable format, Relevant facts covering media, economy, e-commerce, and FMCG topics, Use our newsletter overview to manage the topics that you have subscribed to. Despite the large size of Chinas overseas lending boom, no official data exists on the resulting debt flows and stocks. China's presence and activities in Africa are not new. In the 15th century, China occupied Vietnam from 1407 to 1427. (+1) 202-419-4300 | Main Its loans to lower and middle-income countries have tripled over the past decade, reaching $170bn (125bn) by the end of 2020. The Paris Club used to hold the majority of low-income countries debt before it was restructured and largely forgiven after the turn of the millennium for qualifying, developing countries. Very little came at market terms and with strings attached such as collateral. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Militrische Strke von Taiwan und China im Vergleich 2023, Bruttoinlandsprodukt (BIP) in China bis 2028, Staatsverschuldung von China in Relation zum Bruttoinlandsprodukt (BIP) bis 2028, Inflationsrate in China nach Monaten bis Mrz 2023. That is reportedly "$8 billion more than what the other top eight lenders combined, including the World Bank, African Development Bank, and the US and European development banks, contributed." The country is accused of leveraging massive loans it holds over small states worldwide to snatch assets and increase its . China-North Korea relations can be described as complicated at best. The last comparable surge in state-driven capital outflows was the U.S. lending to war-ravaged Europe in the aftermath of World War II, including programs such as the Marshall Plan. Countries can be difficult borrowers, Gelpern explains, and it's not practical to expect them to hand over a physical asset like a port if they're unable to pay their debts. We also show that China tends to lend at market terms, meaning at interest rates that are close to those in private capital markets. Such loans don't show up in official accounts of government debt. How many World Bank loans or IMF loans have African nations defaulted on or better yet how many of these loans have been fully paid back without being refinanced by more WB or IMF loans? When it comes to views of the U.S., the pattern is more varied. Laos has a 313-mile border with China that runs from the tripoint with Myanmar in the west to the tripoint with Vietnam in the east. The territory of the People's Republic of China (PRC) has frequently been revised since its formation on 1 October 1949. The area overlaps Chinas expansive nine-dash line territorial claim covering much of the sea. Since 2013 a Chinese Coast Guard ship has been stationed near Luconia Breakers, an area about 80 nautical miles north of Sarawak. They aren't just geopolitical rivals; the nuclear-armed neighbors are locked in a dispute that has seen large troop build-ups along their mountainous, 2,000-mile-plus border, and clashes including melees with clubs, sticks and stones. Video, 00:02:36, On board the worlds last surviving turntable ferry. Malaysias foreign ministry said at the time that the manoeuvre was a serious threat to national sovereignty. Ramaphosa affirmed that he supports China's policies on Taiwan, Tibet, and other "major issues". "America cannot ignore Africa. The area in question is said to be claimed by both Inner Mongolians and residents of neighbouring Gansu province. At the same time, however, there are no countries where more than half say U.S. influence is weakening, either. The Chinese Communist Party's Secret Projects in the US: What Is Going On? The U.S. is also seen substantially more positively than China in Japan (+58 points) and Australia (+40 points). "China is dependent on Africa for imports of fossil fuels and commodities Beijing has increased its control of African commodities through strategic direct investment in oil fields, mines, and production facilities, as well as through resource-backed loans that call for in-kind payments of commodities. China once tried to check its population growth with the now defunct one-child policy. But while Taiwan has proved to be the most troubling flashpoint in recent months, there are 16 other countries embroiled in territorial disputes with China. It was heaven on earth. The Chinese embassy in Kathmandu denies any encroachment. In both instances, the Chinese invaders were defeated with the help of the kamikaze, "divine winds" of typhoons that destroyed the ships of the Chinese invaders. Between 2000 and 2017, other countries' debt owed to China soared ten-fold, from less than $500 billion to more than $5 trillion, according to the study from Germany-based think tank the Kiel . The new imperialism. Analysis of the port project by UK-based think tank Chatham House has questioned whether the "debt trap" narrative strictly applies, given that the deal was driven by local political motivations, and that China never took formal ownership of the port. Many of Chinese premier Xi Jinpings disputes centre on control of the South China Sea. Widely regarded as an economic miracle, China embraced widespread centralized economic reforms, averaging a GDP growth of 10% annually and lifting half of its 1.3 billion people out of poverty . For an optimal experience visit our site on another browser. In September, Radio Free Asia reported that residents of Myanmars northern Shan state had destroyed a fence built by Chinese authorities, claiming it encroaches on their countrys territory.

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