China plays the debt card

I’m not sure which is more amusing, the consternation of the anti-imperialists who are tempted to shoulder the White Man’s Burden to protect the Africans from themselves or the hypocrisy of the IMF for worrying about China engaging in the debt-trap diplomacy they have been utilizing in Asia and Latin America for decades:

Zambia is reportedly in talks with China over a possible takeover of the country’s electricity company, ZEWASCO, after defaulting on loan repayment. This is according to a report by Africa Confidential titled Bills, Bonds and even Bigger Debts claiming that Zambia risks losing its sovereignty to China which is bound to seize its national assets once the government defaults on loans.

“A major worry of the IMF and US is that China’s BRI strategy is first to encourage indebtedness, and then to take over strategic national assets when debtors default on repayments. The state electricity company ZESCO is already in talks about a takeover by a Chinese company, AC has learned.

“The long-term outcome could be effective Chinese ownership of the commanding heights of the economy and potentially the biggest loss of national sovereignty since independence,” the report read.

It’s a bit ironic that SJWs in a post-imperial West that has been in decline for nearly 70 years are still actively attempting to destroy it while remaining entirely blind to the fact that a much more numerous, more unified empire is expanding in its place.


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