Péter Róna on Chinese lending

A common feature of Chinese loans to countries in Africa, but also in Europe and even South America, is that...

- usually for a purpose that cannot be repaid from the profits of the investment's own activities,

- the contracts often have a secret clause which stipulates that if the borrowed country is unable to repay the loan, substantial national assets will be transferred to Chinese ownership.

I looked up some examples in the international press:

- Sri Lanka is forced to 'lease' its main port to China, which China uses as a port of war,

- In Greece, the most important port has become majority Chinese-owned ("The port of Piraeus will be the head of the Chinese dragon" ).

- In Venezuela, China has put its stamp of approval on all oil production,

- Most recently, it wants the EU to repay a Chinese loan for a highway in northern Macedonia built on Chinese credit. This has failed, leaving China with significant land holdings.

The literature calls this a "predatory loan".

The loan agreements between the Hungarian and Chinese governments (Belgrade - Budapest railway) and the one to be established(?) (Chinese university) are not only secret, but the whole contract is secret... and even the reason why it is secret is secret.

"Professor Péter Róna - Klubrádió"

Translated with www.DeepL.com/Translator (free version)

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