This is how the Chinese money trap works.
An excellent reminder just in time when the present POTP Duterte administration is clawing hard and good at funds dangled by the regime in the mainland.
I like how Nas made a factual example about Sri Lanka (before, Ceylon) which is now into neck deep trouble being unable to pay back the loans.
But the same situation is now hounding many countries tricked into the temptation of dipping on the never ending, never drying source of financial loans.
In simple, but very concise manner we get it loud and clear.
Come on, if you are interested about this Chinese-concocted financial phenomenon, Google about this. China is busy round the clock working on it in Asia, Africa, Latin America and Europe.
Meanwhile, let’s watch the video below:
[Update: June 3, 2019- YouTube deleted account of Youtuber. -Ed.]
Are Chinese construction workers also part of a loan package? Bad development for local construction workers, but also those in white collar jobs, too.
Anyway, we have got to wait many years and see which parts (yes parts because there will be more loans) of the country will be taken over by the Chinese overlord. Your guess is as good as mine. (Hint: Philippines might become a group of islands in a Chinese sea.- Ed.)
If you have watched very carefully, China is pretty much into making the final trap to pave the Silk Road Connection thru the Philippines. And it is happening now, courtesy of President Rodrigo Duterte.