Friday, July 9, 2021

Vox Popoli: Banks not tanks

People often accuse China of being imitative rather than creative, and stealing techniques and technology rather than inventing it. Well, it looks like they learned a rather nasty new trick from the West's globalist bankers and are applying it effectively with vigor around the world:

Perched atop massive cement pillars that tower above Montenegro's picturesque Moraca river canyon is an incomplete highway that threatens to bankrupt the little Balkan nation. 

China Road and Bridge Corporation, the state-owned company which is building the bridge with imported Chinese workers, has not yet finished constructing the first section of the 270-mile highway to the Serbian capital Belgrade. 

The first instalment on a $1 billion loan from China's state bank is due this month but it's unclear whether Montenegro, whose debt has soared to more than double its GDP because of the project, will be able to pay it back.  

A copy of the loan contract reviewed by NPR shows that if Montenegro misses the deadline, Beijing has the right to seize land inside the country - as long as it doesn't belong to the military or is used for diplomatic purposes. 

Furthermore, the country's former government green-lighted for a Chinese court of arbitration to have the final say on any contractual disputes.  

The World Bank and the International Monetary Fund have been engaging in debt-trap diplomacy for decades. The Chinese offer is actually less burdensome and less controlling... unless the country defaults. Which is how China is going to snap up very inexpensive property all around the world and there is literally nothing that the globalists - who invented the scheme - can do to stop it.

Nationalism and the ability to default has been the only answer to this sort of financial predation, but even nationalism won't help much when the lender holding the collateral has a massive military to back up his legal claims.

It's always more efficient to invade-and-occupy using banks rather than tanks.