The cost of being in debt to China - BBC News 

A man learns from his mistake. But a wise learn from mistakes of others.

So we have concerns about the morality and safety of Chinese projects and investments but we give them business anyway because they offer the cheapest tender? I think the EU needs a good look in the mirror. The Chinese are only getting away with it because we are playing ball.

Kind of a misleading title. For the example of Croatia. As you've rightly mentioned, it was paid mostly with EU funds. So no debt trap here.

World: "I need money to build infrastructure." IMF n World Bank: "Our interest rate is 4.5%" China: "Our interest rate is 4%" IMF n World Bank: "China is a debt trap" China: "???"

The cost of being in debt to China is less than the cost of being in debt to the IMF

I like how this is a problem when the IMF and World Bank have literally done the same thing

BBC is so kind , I am really touched about their caring of other countries

Freakin hilarious. Britain complains about another country's exploitation of weaker nations

You blurred his face , changed his voice but showed his name. WOW

What about IMF and world Bank debt trap? That most of the world has been burdened by with harsh terms and conditions which keep the countries poor forever

BBC News, the most trusted News Organisation in the World😂😂😂🤡🤡🤡

The strong sour feeling from Anglo-Saxon

No country should be in debt to China! Nor to Russia! All countries need to do better housekeeping!!

Very fair and accurate now if only we had a video about the world bank and IMF, that would be fair and balanced

When it is IMF and World Bank, it is not debt trap ( for example: economic crisis in Argentina caused by IMF), western hipocrisy.

Loan from IMF = Good Loan from China = Bad British slavery = Good

Forever in debt to your priceless advice 🎵

Sri Lanka has been used the most to illustrate 'debt trap' from China. However, quick check will show that China holds a mere 10% of the country's external debt, lower than Japan and far, far lower than what is owed to the IMF/World Bank/International markets. In fact, SriLanka leased the port of Hambatota NOT to pay off Chinese creditors but international market creditors and to shore up FX reserves.

They’re already doing this to a lot of country’s in Africa, giving massive loans only to send in their own employees, not allowing people of the region to level up in work and segregating workers from Chinese workers as well as over working. It’s gotten so bad in one country I think they tried to use their debt to take control of their airport.

Part of the problem, on the infrastructure bids, is western companies complete and utter incompetence. 2 to 3 times the cost, always complete to 2 to 3 years late and not noticeably better. Sure labour and less red tape and reduce costs 20 or 30% but not to the levels we see. It's a no brainer for companies that have the option.

This guy is nuts. You don’t save %20, on a %20 cheaper project. If they don’t hire local, and spend locally. Normally with large projects, most of the money, goes back into the local economy.

Running a loan shark company is bad, borrowing from loan sharks is stupid. What about laughing at your neighbours who borrow from loan sharks? 😂

Hopefully all the people can follow standard workflows completely.

Please also compare the cost of being in debt to IMF and World Bank

The stupidity abounds with projects like the bridge. Where do I start… By relying on Chinese to use their workers and their parts and their equipment, the EU is gambling the quality of the parts is sufficient and they are neglecting union workers and failing to support their own local businesses that supply equipment parts. All for a 20% cut.

Why don't you talk about the cost of being in debt with the USA and the IMF? Too afraid?

"If you were to murder someone... you're beheaded." Sounds like a weird company policy. Why would anyone murder someone on a construction site? Is that a standard practice or something? 🤔🤔🤔 🐲✨🐲✨🐲✨

Could you talk about mortgage debt trap? High cost of living, high interest rate. Mortgage debt trap make us poor: little money to buy foods, little money to improve living condition, little money to save for retirement, little money to save for bad days. And bad days are all around us, covid, war, discrimination.

"We buy things we don't need with money we don't have to impress people we don't like." ~Robert Quillen "We offer special discount on factory land and employee salaries, lowest in world, guaranteed! Buy now, pay later!" ~China

Never be too desperate to ask a loan shark for fast cash.

The interesting part seems to be "European rivals called foul but couldn't stop the deal".

Croatia isn't "a former Yugoslav country". I mean we had a kingdom waaay back before Yugoslavia was even a thing, so it's kinda weird to put that connotation.

Work with other countries but don't depend on them.

It’s is nuts to give away your work/ projects/ control etc etc just to “save” 20%

Strange thing for the UK media to report considering our external debt is over 7.3trillion. (External debt is debt owed by business’s, government, banks ect. to overseas lenders) and i bet China is in the top 3… We all know our government likes to bail out the private sector so that debt is technically government debt.

BBC: *shows chinese workers* "It's an unmistakably chinese scene" Sounds like an unmistakably western news source.

Even more horrifying being indebted to the IMF

We do not know the cost of being in debt to China, but we do know the cost of being in debt to British. India and other British colonies have the most prominent voice to tell u what are the cost of being in debt ( even with no debt )to British. Slavery, opium, colonism, racism, white superamcy, oppression, plunder......You name it.

I can’t believe that I actually paid for a tv licence at one time.

Sb tell me what things relating to vietnamese in that report

might also have something to do with sanctions placed on China by the USA and a few other countries maybe even on ebay when you pay for postage you then pay another 15% for import. if that's for just a £20 item, imagine how much it cost China to export billions in trade, so you pay more and you look elsewhere for likewise goods

I believe they chose China because they learned so many hard lessons from the west.

Hello what place in china is this video in.

Ridiculous😂if you're caught stealing your hand is chopped off......please let us see the so called contracts 🤷🏻‍♀️

I think this pandemic has taught people the importance of multiple streams of income, unfortunately having a job doesn't mean security rather having different investments is the real deal

Why should the developed European countries be complaining if they themselves are unwilling to invest in these projects???

Why does your news sound like I'm having a tough time, but in fact I'm having a very happy 😂 life

1:09 Does anyone know why they concealed the man's voice and face if they're going to show his name anyway? Did they use an alias or a fake name? I don't get it.

Please make a video on cost of debt to IMF( International Monetary Fund) also .

That Croatian academic was deplorable. It isn't a question of whether we'd benefit financially from dealing with China -- otherwise we wouldn't be doing it. There's a MORAL problem.

That’s what makes their contract far cheaper than their counterparts.

so much risk for 20 percent saving will we never learn

Blaming the Chinese for what the Serbs are supposed to enforce is BS. If there are violations the Serbs need to hold the Chinese company accountable. The Chinese company, if found to be guilty must pay the workers, improve their conditions and create binding legal contracts. This ultimately falls upon the host nations who allow these various multinationals to do business abroad and bring in foreign labor. This falls on the Serbs to ensure foreign labor in their nation is treated fairly by enforcing clear rules for companies doing business there.

It's very simple. When dealing with China, sleep with BOTH eyes open!! Read the small print! Avoid deals on security, and NEVER use public resources as collateral. Keep separate software/cyber information flows.

Ahh this has been going on for a couple of years by now and the BBC are only now talking about it now?

Why haven't I ever watched a video titled 'the cost of being in debt to the usa/uk' ?

Western countries are complaining about Chinese development projects, Why don't they offer the same to developing countries instead of ranting day in day out. They are still having largest market in China, look at Boeing, Eurobus, Microsoft , IPG, KFC among thousands companies, why don't they leave china for good and also offer alternative cheap products to third world countries.

On the topic of "debt to China", Brits certainly are the expert. Why not talking from their own experience, that is, the experiences of 1840 and 1856. How did the Brits settle the debt at that time? Opium + Warships. Talking about corruption? Human rights? Sure.

The bridge built at a 20% discount isn't going to last very long. :)

"None was available part " gives a sense that they don't care ...😁😁

No more Chinese loans 🚧🚧🚧

I am a bit puzzled by the inclusion of the Peljesac bridge in this report. The project is funded mainly by the EU, the China Road and Bridge Corporation is merely the contractor for the bridge. How can Croatia possibly incur a debt to China? There was also no alleged link to environmental damage or worker exploitation. Any thoughts?

if i goto a bank and asked for a homeloan. then somehow i lost my job and got to sell my house to pay back the bank, its a debt trap!!

Hello what is this video about.

The cost of being in debt to the West: drought and famine...

Europe made lot of countries poor

okay, 1:57 can we see your source please BBC. show us evidence for this allegation instead of some tractors

A bank is a place that will lend you money, provided you can prove you don't really need it.

The Chinese built "Pelješac Bridge" in Croatia looks great. It will be fantastic for Croatian locals and for tourists visiting Croatia who want to travel to Dubrovnik by car. Finally locals & tourists will not have to pass through the sea side town of Neum, which the Yugoslav communist party transferred to Bosnia & Herzegovina after WW2.

The “debt-trap” theory is concocted by Brahma Chellaney, an Indian geopolitical strategist. The “debt-trap” theory is concocted by Indians, and popularized by Americans. They concoct this theory to demonize China, Chinese and BRI projects/loans. India, US, along with EU, fear losing their dominance and control over other countries which may result from these projects. Such fears are based on their selfish and geopolitical interests. However, people from all over the world, especially from developing countries have acknowledged the needs and the actual benefits of these projects/loans. They know from their first-hand experience that there is no debt-trap. Academics and researchers have reviewed these projects, and have debunked the debt-trap theory.

When you can't offer a better deal just bad mouth your competitor.

Atleast they get infrastructure uk debt traps in Africa only involves mining claims and fueled civil conflict

You can call it debt trap or whatever ..... but you must admit that what China offers is much much better than colonisation like the one you did in the past

Not China's fault! Don't take loans you can't afford to pay to then blame the one who gives you money

What about the high suicidal rate in the Foxconn factory where all the big brands made their gadgets? Each worker works 12hrs in a shift. Shall we consumers put pressure on the brands?

Ty

What about the debt traps created by IMF? and the political agenda abided by those IMF loans?

China/Russia one love❤️

Tell us the cost of in debt with IMF

The West should worry about the conditions workers in their own countries are facing.

Every countries needs infrastructure to build up their own economic development. Connectivity and easy access to markets helps in the standard of living as it begins to produce more products and increase its overall wealth. Countries are able to tap in to the Belt and Road Initiative for their own economic development when the International Monetary Fund and the World Bank headed by the European and American refused to invest and helped the developing countries in economic development because they considered it a economic liabilities instead of an assets. Infrastructure helps the countries to regenerate economic growths by expanding their reach to the outside world and beyond the restricted boundaries and vice versa. Such huge projects like rail infrastructure, roads, bridges, and building tunnels through mountainous terrains requires a big investment and China with the Belt and Road Initiative provides the funds and technical expertise to the country infrastructure and economic development. The western media like to used the word debt trap to paint a negative picture of infrastructure development when China is involved. The US and the west will only involved themselves when they have an incentive to gain by exploiting other countries for their mineral wealth. That's what the US and the colonial power of the west did to their colonies. Look at Africa where the Europeans builds roads from the mines to the port to facilitates the transport of mineral resources in order to shipped the mineral resources to Europe. No road infrastructure for the local inhabitants to move easily and freely from places to places. With the Belt and Road Initiative, any country is free to join and 155 countries out of 190 countries do so. China's Belt and Road Initiative offers another additional alternative to the World Bank and the IMF. It is up to other countries to choose which organizations served them better. With the Global Gateway, the new European Strategy to tackle the most pressing global challenges, from climate change and protecting the environment, and boosting competitiveness and global supply chains, it will help developing countries with the option to developed itself further.

Yep, even in Australia we have this, Chinese companies in building and construction works. When will we learn

I wonder if it's any different to be in debt to UK, for example.

Careful the bridge will not collapse after a couple of years.

😳 Scary thought. Let's hope those Chinese built infrastructure fare better than the usual Made in China products because 20% cheaper might just translate to 20% less safe, less durable, less effective, etc.

Too bad... China is so messed up.... Alongside their link to Russia and India.... They could of helped build the infrastructure of the world.... Since if they can build a space station.... They could build something as easy as a building, roads, etc.

I feel like watching a movie.

What about IMF and World bank..they are also doing the same thing

Great. Now abolish minimum wage and bring back jobs.

It's just like being indebted to a *πobber🇨🇳*

Infrastructures something you do not cut corners on. Too many liabilities and you want the experience and the best of the best to take on the projects.

Africa and Europe need to be careful when signing deals

Of course UK loved Chinese investment until the FAA rite needed a diversion

great, now make a video about the cost of being in debt to the US

UK has one of the highest Chinese investment shares across Europe

It's all part of China's "win, win cooperation" 😂

Say it more plainly, the Anglo-Saxons doesn't like competition, China is their biggest competitor, therefore they must find a way to drive China off their business, even if they must lie to their teeth 😂

imagine taking someones country, forcing them to slavery to build up the country and then leave the country messed up in debt and no law. thats called colonization

A tall story.

What about to be in dept with England, France etc.