sandeep Posted November 25, 2019 Posted November 25, 2019 A no-holds barred full-on assault that exposes the naked economic exploitation that OBOR and CPEC pulls off in the name of "development". https://www.state.gov/a-conversation-with-ambassador-alice-wells-on-the-china-pakistan-economic-corridor/ Some choice excerpts below Quote CPEC is not about aid. This is almost always the form of loans or other forms of financing, often non-concessional, with sovereign guarantees, or guaranteed profits for Chinese state-owned enterprises that are repatriated to China. Quote last year a Pakistani Senate Committee Report expressed astonishment at what they called the controlled bidding process for construction on the recently inaugurated Sukkur to Multan Motorway. According to the Committee, Beijing had allowed only three firms — all Chinese — to participate in that tender, while the entire project was financed by a Chinese loan with the risk entirely borne by the people of Pakistan. Quote The new Pakistani government prioritizes rooting out corruption, but the recently announced CPEC authority has immunity from corruption prosecutions. " "Lastly, on jobs. We hear the familiar Chinese catch phrase win/win cooperation and mutual benefit. But really, CPEC relies primarily on Chinese workers and supplies even amid rising unemployment in Pakistan. And for these projects, Chinese companies are importing materials and equipment from China rather than giving that business to Pakistani companies which would actually create jobs for locals. CPEC is even bringing in Chinese workers who earn money in Pakistan, take the wages back to China, leaving very little in the local economy. Quote CPEC’s most expensive single project is upgrading the railway from Karachi to Peshawar. When the project was initially announced, the price was set at $8.2 billion. In October of 2018, Pakistan’s Railway Minister announced that they had negotiated the price down to $6.2 billion, a savings of $2 billion, and he explained, Pakistan’s a poor country, we can’t afford the huge burden of these loans. But recent media reports claim the price has now risen to $9 billion. So why doesn’t the Pakistan public know the price for CPEC’s most expensive project or how it’s being determined? Quote Lastly, on jobs. We hear the familiar Chinese catch phrase win/win cooperation and mutual benefit. But really, CPEC relies primarily on Chinese workers and supplies even amid rising unemployment in Pakistan. And for these projects, Chinese companies are importing materials and equipment from China rather than giving that business to Pakistani companies which would actually create jobs for locals. CPEC is even bringing in Chinese workers who earn money in Pakistan, take the wages back to China, leaving very little in the local economy. Quote obviously the program was designed in part to be able to export excess labor, excess capital, excess production facilities. So China was trying to solve one of its own domestic problems and it solved its domestic problem sometimes at the expense of the receiving country.
velu Posted November 25, 2019 Posted November 25, 2019 most of the infra projects completed by china even in china is useless .. they are just to keep their growth and economy running on the other hand , we are facing opposition even for the essential road projects Turning_track 1
motomaverick Posted November 26, 2019 Posted November 26, 2019 (edited) Gawaar Abduls think all weather dost China is investing in Pakiland, when the reality is that this so called investment never even left China. This money was loaned to Pakistan on a high interest rate, by Chinese banks who deposited the money directly into the accounts of the Chinese companies that won the tender. The entire labour to work on these projects came from China too, and these Chinks are marrying young Pakistani women, taking them to China and selling them off to brothels. Chinese know Abduls cannot repay these loans, so they will start taking over all of Pakistan's idaaray one by one when the time comes to repay. They acquired a port in Sri Lanka exactly this way (Hambantota it was I think). You can only laugh at the mental capacity of this chewtiya qoum known as Pakistani. Edited November 26, 2019 by motomaverick
Recommended Posts