China is not necessarily or intentionally trapping Africa into debt servitude. Far from it, China is not interested in loan interest payments; that’s peanut. That “drip-return on investment” strategy is for Pension Funds. China is not a Pension Fund.
China is buying – not lending to – Africa by buying African governments’ or rather their officials’s fears (insecurities) and greed.
China has a grand dream – vision- and China’s intention is much bigger than collecting periodic interest payments on its loans to the Chinese money hungry African governments. China’s intention is to strategically buy Africa by extending ‘unserviceable‘ loans on stringent concessional agreements to African governments.
China’s strategy also comes at the back of something China knows too well about money hungry African government officials, a weakness that is exacerbated by their Pavlovian-like response when they smell money or when money is invitingly dangled at them.
And that’s, not their inability to read well and comprehend intricate legalese nuances typical of agreements for such arrangements. But rather, their impatience – stimulated response – to carefully read such often long important documents, without divided attention under such excitement causing their minds to wander off and run wild about how and how much they will siphon away as much of it as they can to their personal accounts or projects.
China is buying Africa by simply responding to and buying its government officials’ greed and desire for personal aggrandisement and the fear to lose their power grip. China’s strategy in Africa is not terribly different in principle from the Western strategy, but only in the outcome.
The strategy is the same, that is, in principle. First, find out what their (African governments and their officials) dreaded fears (insecurities) are, something or things they’re willing to give all to avoid happening to them. Second, sell them their own fears (insecurities) and stimulate greed in them in the process and buy their greed cheaply.
However, while Western strategic interests in Africa are historically and predominantly resource extraction; China’s strategic interest is not only the extraction of Africa’s abundant resources but to own and take over Africa, enslave Africans and/or possibly condemning them to the Australian Aboriginal fate.
Whenever and wherever China’s loans are given, China sends its own nationals, in big numbers, as part of the loan agreements – few return to China, they settle in Africa. There are possibly more Chinese nationals in Africa today, than they are western nationals. This is all done and made possible by – and through – the collusion with African governments and their officials motivated by their fears and personal greed.
Individuals in African governments who – due to their personal greed yet purporting to act in good faith and on behalf of their governments, nationals and above all else, countries – mindlessly sign on Chinese loan agreements that are designed to hand their countries to China, in case the concessions are not met.
This is more than wilful abuse of official power and positions, it is tantamount to premeditated treason, and it must be treated and dealt with as such!