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26.06.2017 Feature Article

Disclose All Terms Of China Loans/Aid

Disclose All Terms Of China LoansAid
26.06.2017 LISTEN

One result of the growth of Chinese nationalism was resentment against the "Unequal Treaties". Although the trade relations which they had established had normally been friendly,and although they greatly helped the development China, they were regarded as an infringement of Chinese sovereignty.

I am herein entreating our leaders who walk to the Chinese with their empty calabash,to read about Nine Power Treaty China negotiated with the British empire,the USA,France,Japan, Italy,Belgium,the Netherlands and Poland whereby all all agreed to respect the sovereignty of China.They should also read about the the Right of Extra Territoriality which the Chinese granted foreigners immunity from Chinese jurisdiction and were made subject only to the laws and the courts of their own countries.

If they read about these treaties, will come across the treaty port system. What our leaders must know is that China also has,huge deposits of coal,iron, copper,tin,antimony and tungsten and some petroleum,all of viral importance in modern industry. The Chinese did a study and saw that these mineral deposits can make her into a first class power and in her rivers an enormous potential of water power.

They quickly started working towards that. It targeted agriculture an area where bulk of her population,probably about 80% depended directly and with about 10% of arable land, China made good gains from the sector. Until the 19th century China remained comparatively isolated and when relations with the nation of the West were developed they were chiefly economic.

Our leaders must know that you cannot achieve meaningful development with this attitude of always begging for foreign aids and primitively make successful loan negotiations an achievement. The continent's political leaders and actors are now initiating us into another form of colonialism this time not political,but economical with few political strings attached.

The late President Sata of Zambia when campaigning for the seat,made curbing of Chinese investors taking over their local businesses his main campaign message. He promised will take tough stand against the influx of Chinese investors into the country,particularly the mining sector,which according to him didn't benefit locals. Most of the country's business magnates and members of the local manufacturers associations supported his campaign because of this powerful campaign promise.

Few months after taking over, Sata started hosting luncheons for Chinese investors at the state house. He changed his,position on the Chinese investors and his response to his critics was this "they are also going to sort me out and so we are going to use them to develop" that was Sata. He started doing population hypothesis and arguments to support his new position and as we speak influx of Chinese investors legal and illegal is one major challenge facing Zambians.

China's global engagement is changing as it continues to gain economic clout and uses economic interaction with economically embattled countries with clever political stipulations to take over their resources. Check Chinese activities in Ecuador to understand its newest global agenda. The center of financial is shifting putting China at a strategic position and it aggressively asserting its economic clouts to win diplomatic allies to consolidate its global economic revolution.

Paying government borrowing plus interest and some trade offs will be completed within the term of President Akufo Addo,but inherited by succeeding administrators and the debt situation may even be entangled with complications such as penalties and increased rates if timely repayment proves to be unwieldy. This and other reasons are why we I am demanding for full public disclosures on loans and aids we receive from our Chinese counterparts.

The days of the hermit kingdom is over we must focus on transactions that can mutually benefit both sides but not that transaction that will expose our minerals to wanton Chinese exploitation.Our leaders must avoid deals that can have the effect of a diminution of our sovereignty.

THE NEW TRICK
Lazy administrations across the globe have started adopting the pro Chinese approach to avoid prudent conditionalities attached to loans from the world bank,The IMF and the EU. And they engage themselves in this backward approach without concerning themselves with their country's exports potential and how many of their products get onto the Chinese market vis- a- vis what go to the EU markets

This administration has adopted this system and going to pursue this agenda readily to the detriment of the economy.

OUR PETROL AND OTHER MINERAL RESOURCES
Already we still servicing the $270m concessional loan we received from China Exim Bank for the Bui Dam and a commercial loan of $292m and as part of the settlement deal proceeds of 30,000 tons of our Cocoa goes to China every year, we have other loans given us by China to settle. This time just like Cambodia,Ecuador and other countries, Ghana is likely to open our mineral resources officially to China for large scale exploration and exploitation.

As we speak China has a lock on close to 90% of Ecuador's oil exports, which mostly goes to paying off its loans and many countries in exchange for loans from China pay steep interest rates and give up the rights to their natural resources for years. This is the situation Ghana is likely to find itself soon.

Dr Bawumia has said many things in the past and present which turned out to be false, we must therefore not take his " no strings" information as sacred which shouldn't be verified. I am herein stating here emphatically that our oil was used as part of the bargaining tool for the $2bn facility and others to come later, other mineral deposits such as Bauxite, gold and diamonds exploration was also captured in the document. I respectively call on all patriots of the land, civil society organisations and environmentalists to join the crusade to help unravel the full facts about these ongoing deals.

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