how many countries has china taken over

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. In September 2020, on the brink of bankruptcy, Laos sold a major asset to China, handing over part of its energy grid for $600m in order to seek debt relief from Chinese creditors. 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. Last month Voice of America reported that Beijing had begun construction of villages and settlements along its Himalayan borders. Just 24 percent of the countries' bilateral debt comes from the rest of the world that year. The notable exceptions are Hungary and Italy, where those on the right are more likely than those on the left to see China favorably. Ramaphosa affirmed that he supports China's policies on Taiwan, Tibet, and other "major issues". 2) Private sectors will misprice debt contracts, such as sovereign bonds, if they fail to grasp the true scope of a governments debts a problem thats compounded by the collateral clauses in many Chinese official loans, meaning that China will get preferential treatment when it comes to repayments. According to World Bank data analyzed by Statista. Most populous nation: Should India rejoice or panic? China lent nearly . This gap in perceptions is largest in Australia, where more than three times as many say Chinas influence is growing than say the same about American influence (73% vs. 19%). ", Retired teacher Liu Quan, 57, said he doesn't care about the population news at all. . That's because central government institutions aren't named in a lot of the deals struck by Chinese state banks, keeping such deals off government balance sheets and hidden by confidentiality clauses that can prevent governments from knowing exactly what has been agreed behind closed doors. There's currently an initiative by G20 nations - those countries which have the largest and fastest-growing economies - to offer debt relief for poorer countries to help them deal with the impact of the pandemic. All rights reserved. In Africa, which lags all other regions of the world in the availability of paved roads and electricity, that deficit is set to grow without a massive influx of hard infrastructure investment At current rates, the minimum deficit of the road network will be 60,000km by 2040 and an additional 30,000km gap for the rail network.". In June 2020, soldiers clashed in hand-to-hand combat as a border dispute threatened the uneasy truce between the worlds most populous nations. And 3) Forecasters of global economic activity are missing an important swing factor influencing aggregate global demand. 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. 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. "It really seems like kind of a bread-and-butter strategy they use to signal to their borrower that 'We're the big boss around here'," Brad Parks explains. daily and featuring the latest statistics from the media, It is unclear why the report has not yet been published by the Nepalese government, the BBC said. Our data show that almost all of Chinas lending is undertaken by the government and various state-owned entities, such as public enterprises and public banks. The area in question is said to be claimed by both Inner Mongolians and residents of neighbouring Gansu province. current data from the United States and around the So who is really stuck in a debt trap? For an optimal experience visit our site on another browser. In South Korea, 89% have a favorable view of the U.S., 70 percentage points more than the 19% who say the same of China. Both countries face their own challenges. China's economy grows 2.3% in 2020 as recovery quickens. According to a Biden administration fact-sheet about the initiative: "President Biden and G7 partners agreed to launch the bold new global infrastructure initiative Build Back Better World (B3W), a values-driven, high-standard, and transparent infrastructure partnership led by major democracies to help narrow the $40+ trillion infrastructure need in the developing world "B3W will be global in scope, from Latin America and the Caribbean to Africa to the Indo-Pacific. BEIJING Size isn't everything it's what you do with it that counts. Islands and reefs: ~75,400 km 2. All rights reserved. Africa's challenges, opportunities, and security interests are inseparable from our own. Our competitors clearly see Africa's rich potential. Such hype lacks a basic understanding of the law of population development, it said. China has repeatedly demanded that Indonesia halt an oil and natural gas project in the region, Nikkei Asia said, claiming that the efforts to extract natural resources are an infringement on its territorial waters. ", "Is China being smart?" China and India are the world's population behemoths but their demographics are very different. Since 2010 well over $20bn of Chinese . China has vastly outpaced all other countries in development financing, but the way in which Beijing has reached that level is "extraordinary", AidData says. China Merchants, founded as a patriotic enterprise in 1872 to attract Chinese capital to take on Western shipping lines, manages 36 ports in 18 countries. The hostility, which triggered an angry protest from Manila, was the latest flare-up in the South China Sea, with China claiming virtually the entire waterway and transforming seven disputed shoals into missile-protected island bases. While Biden vegetates Xi is trick or treating across Africa.It's the American version of "while Rome burned".It will be interesting to see how Red China deals with Islamists. A deal with Venezuela, for example, demands the Venezuelan borrower deposit the foreign currency earned by selling oil directly into a bank account controlled by China. Very little came at market terms and with strings attached such as collateral. 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. "Population does not equal national power," said Zhang Han, 29, a business student from the eastern province of Shandong. China and Japan have repeatedly clashed over a group of uninhabited islands called the Senkaku Islands in Tokyo, the Diaoyu Islands in Beijing and theTiaoyutai Islands in Taiwan. Please limit comments to 300 words or less. China's lending for construction projects around the world has proved controversial, Sri Lankans protest against a proposed Chinese company stake in Hambantota port (2017), Interest rates on Chinese loans are higher than those from some other lenders. The Week is part of Future plc, an international media group and leading digital publisher. In addition, China is not a member of the Paris Club (an informal group of creditor nations) or the OECD, both of which collect data on lending by official creditors. Very good article. The BBC reported at the time that, according to the Global Times, there had been several clashes between Inner Mongolians and residents of Gansu province in the area. However, critics fear that the high-interest loans funding many Chinese projects are saddling unsuspecting populations in sky-high debt. Most African nations do not act like western nations when it comes to repaying external debt. For generations I have heard in America that all of the problems in Africa are because of (white) colonialism. The survey is weighted to be representative of the U.S. adult population by gender, race, ethnicity, partisan affiliation, education and other categories. Use is, however, only permitted with What is China's One Belt, One Road? But it has over recent years improved ties with China to counterbalance its long-standing relationship with India, its giant neighbour to the south.. China has illegally occupied a 38,000 sq km of India's land in Aksai Chin. Those nations like Sri Lanka or Pakistan have floundered and unable to pay Russia will be no exception and tragically African nations too will fall into this trap. Because the West is NOT offering what these countries really need (same happens with Latin America btw). Their presence is irritating and appears threatening to Japan, but foreign ships sailing within the contiguous zone is not a violation of international law. For individual content and infographics in your Corporate Design, The Peoples Republic has always been an active international lender. China has become a big lender to poorer countries, and there's been criticism of its approach. Beijing alleges that it owns large parts of Laos on historical precedent dating back to the Yuan Dynasty, said The Print. Why China Is Taking over Africa's Resources One Country at a Time. It says: "There is not a single country that has fallen into [a] so-called 'debt trap' as a result of borrowing from China.". The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: According to World Bank data analyzed by Statista, countries heavily in debt to China are mostly located in Africa, but can also be found in Central Asia, Southeast Asia and the Pacific. China tends to lend at higher rates of interest than western governments. Gatestone Institute is a 501(c)3 not-for-profit organization, Federal Tax ID #454724565. 2023 BBC. This change does not substantively affect the findings in this analysis. Starting in 2013, it leverages China's expertise in infrastructure projects, and ample foreign currency, to build new global trading routes. On board the worlds last surviving turntable ferry. 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. proper attribution to Statista. This has led to its dispute with several countries, such as Taiwan, the Philippines, Indonesia, Vietnam, Japan, India, South Korea, North Korea, Singapore, Brunei, Nepal, Bhutan, Laos, Mongolia and Myanmar. China-North Korea relations can be described as complicated at best. The new intelligence suggests around 20,000 Russian soldiers have been killed in the . Over the past two decades, China has become a major global lender, with outstanding claims now exceeding more than 5% of global GDP. How does China's lending compare with others? Chinese state-owned lenders also typically require borrowers to maintain a minimum cash balance in an offshore account to which the lender has access. 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. The unreported lending from China has grown to more than $200 billion USD as of 2016. Between 1971 and 1981, India's population . "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. The Communist nation is known to have border disputes with as many as 18 countries. India, its neighbor and fierce rival, will soon overtake China, Beijing residents focus on superpowers as India's population exceeds China's, lifting almost 800 million people out of poverty, fell last year for the first time in six decades. 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. China is now obtaining a very strong support in the UN and is on the verge of being a majority voter. But prominent voices in China accused the West of using it as another excuse to "bad mouth" Beijing as the latest episode in the long-running struggle with the U.S. and its allies. In most countries, people on the ideological right and left feel similarly about China. There are other parts of the world where Chinese lending has also proved controversial, with contracts whose terms could give China leverage over important assets. The initiative, however, comes across as far too little, too late. Whether such a process will be available for Chinese debt is unclear. China shares a contiguous border of 292 miles with Bhutan and territorial disputes have been a source of potential conflict. In Germany I met several African immigrants (in the tech business), and all of them repeated a similar theme, that back home things were wonderful before the colonialists appeared. The authors . 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. wonders Anna Gelpern, a Georgetown law professor who was involved in an AidData study earlier this year examining Chinese development loan contracts. The Statista "Chart of the Day" currently focuses Manila is facing a deadlock in a dispute it cannot resolve alone, the International Crisis Groupwarned. It's not the fault of today's corrupt African leaders or the African culture, but of things that happened before any of us were born. As a result, nations facing financial strains can turn to China before the international financial institutions, including the IMF. (+1) 202-419-4300 | Main 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. China grows its military while we worry about diversity, inclusion and the proper fit of pregnancy uniforms. Russia and China both seek to convert soft and hard power investments into political influence, strategic access, and military advantage." General Stephen Townsend, Commander of United States Africa Command. 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.. BRI projects were more likely to be associated with corruption, labour scandals or environmental issues than other Chinese development deals. A point to note about the Belt Road initiative by China is the debt trap it is leading nations into. The decision followed a warning by Chinas ambassador to the US that the countries could descend into military conflict over the independence of the government in Taipei. However, attitudes vary widely within the Asia-Pacific region. AidData tallied underreported debt amounting to $385bn. Views of Xi, by comparison, have remained largely unchanged over the past year, though they continue to hover at or near historic lows in most places. The Statista "Chart of the Day", made available "In an average year, China's international development finance commitments amount to about $85bn. They are hedging their bets and making big bets on Africa," he said. But there are no cases, among the hundreds of loan arrangements studied by AidData and some other researchers, of Chinese state-owned lenders actually seizing a major asset in the event of a loan default. The countries with the biggest debt burdens in relative terms were Djibouti and Angola, followed by the Maldives and Laos, which opened a debt-laden railway line to China last year. What's the ROI on gender equity? As the new preferred lender to low-income countries, China held 37 percent of these nations' debt in 2020. It argues that such confidentiality is common practice for international loan contracts. Explore how China's claims over the South China Sea have antagonized competing countries and track the latest . A market in Chennai, India, on Wednesday. Across most countries surveyed, more educated people are more likely to say Chinas power is growing. IE 11 is not supported. England and Wales company registration number 2008885, Subscribe to TheWeek. "Beijing has long viewed African countries as occupying a central position in its efforts to increase China's global influence and revise the international order," the US-China Economic and Security Review Commission wrote in its 2020 Report to Congress. Against this backdrop, much more work is needed to analyze the characteristics and potential impact of Chinas lending around the world. The editors reserve the right not to publish comments containing: incitement to violence, profanity, or broad-brush slurring of any race, ethnic group or religion. Instead, its four focus areas are climate, health and health security, digital technology, and gender equity and equality. Read our research on: Congress | Economy | Trust in Media. Both claim that it falls within their exclusive economic zones. on two sectors: "Media and Technology", updated Laos. under the Creative Commons License CC BY-ND 3.0, may be used In November, Chinese vessels blocked and used water cannons on two Philippine supply boats that were heading to a disputed shoal occupied by Filipino marines in the South China Sea, The Guardian reported. While Chinas role in global trade is highly publicized and politically polarizing, its growing influence in international finance has remained more obscure, mostly due to a lack of data and transparency. Video, On board the worlds last surviving turntable ferry, China has granted or loaned money to 13,427 infrastructure projects, China debt dogs Maldives' 'bridge to prosperity', 'We don't like our land being given away to China', Serena Williams announces pregnancy at Met Gala, Shooting suspect was deported four times - US media, Met Gala 2023: Stars celebrate Karl Lagerfeld, New record as 4.56m Indians take flights in a day, Japan to ban upskirting in stronger sex crime laws, Palestinian hunger striker dies in Israel prison. Hopefully, China will continue to spend $ billions more in these regimes governments for investments that they will never be able to collect on. Why does this matter? The Laos railway is far from the only risky project that Chinese state banks have funded - and yet, AidData says China remains the financier of first resort for many low and middle income countries. India's population growth is slowing down. Instead, its four focus areas are climate, health and health security, digital technology, and gender equity and equality. Directly accessible data for 170 industries from 50 countries and over 1 million facts: Get quick analyses with our professional research service. Speaking to the broadcaster in 2019, Defence Minister Ng Eng Hen said that he did not think an all-out confrontation involving Singapore will take place, explaining: All the parties involved recognize that the price is too high and the issues in the South China Sea do not warrant an actual physical confrontation.. Every major world power has strategic interests in Africa but no western power has been able to have its way for long on this continent, that is why all the colonial powers abandoned it. They want to eat and they want infrastructure. In the border region, an uneasy alliance persists, ABC News reported in 2019. Over 418,000 People Newly . Most Chinese loans have helped finance large-scale investments in infrastructure, energy, and mining. What's important is "to be seen as a developing, modern, and functional country.". which opened a debt-laden railway line to China last year. However, engineers warned the cost would be prohibitive: tracks would need to run through steep mountains, requiring dozens of bridges and tunnels. 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 . An analysis finds 50% of Chinas loans to developing countries go unreported. Outside of Singapore and Malaysia, people in every nation surveyed have more confidence in Biden than in Xi and in Poland and Sweden, the difference is greater than 60 percentage points. On the streets of Beijing, the mood was similar. "And much of China's development financing is fundamentally a commercial operation.". Summary. On the borrower side, debt is accumulating fast: For the 50 main developing country recipients, we estimate that the average stock of debt owed to China has increased from less than 1% of debtor country GDP in 2005 to more than 15% in 2017. As the new preferred lender to low-income countries, China held 37 percent of these nations' debt in 2020. . Beijing began raising the question of sovereignty over the islands in the the 1970s when evidence of oil reserves in the regionsurfaced. 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