Election To Watch: One African Nation Getting Sick Of Living Under China’s Boot (VIDEO)

One man running for leadership of an African nation has a stronger grasp of financial cause-and-effect than the current sitting US President and his party.

Kenya has been spending like proverbial drunken sailors on all kinds of splashy infrastructure projects — but they’ve been putting it on the national credit card.

Sound familiar?

China is throwing money at a number of nations — African and otherwise –not with the expectation that those countries will pay it back, but with the expectation that they will be NEVER be able to pay it back, and therefore be subject to whatever terms Beijing dictates when they eventually default.

Sri Lanka’s troubles have a lot to do with their green policy and inflation, but you can’t overlook the role of what they owed Beijing.

Notably, Sri Lanka walked into China’s “debt trap” diplomacy and has been facing its worst nightmare till now.
“Instead of making use of the limited reserves we had and restructuring the debt in advance, we continued to make debt payments until we ran out of all of our reserves,” said Ali Sabry, Sri Lanka’s caretaker finance minister from April to May, to the Wall Street Journal. “If you had been realistic, we should have gone [to the IMF] at least 12 months before we did.”
The legacy Beijing lays down in Colombo will be a marker for the years to come. “This is the first major, uncontrolled collapse where China is a dominant lender,” wrote Peter Hartcher of the Sydney Morning Herald. “This throws open big questions about how it handles its new power over the fates of nations when they’re at their most vulnerable.” — NewIndianExpress

Kenya’s deputy PM is running for the top job in next month’s elections and he has every intention on changing that dynamic in Kenya. He uses the well-worn quote ‘if you’re stuck in a hole, stop digging’ to describe Kenya’s situation, and pledges to hit the brakes on borrowing and slow it way down.

Kenya's deputy president William Ruto says he'll publish government contracts with China and deport Chinese nationals working in the country illegally if he's elected as president next month https://t.co/vSmU79gfoW pic.twitter.com/evcRw8aU1z

— Reuters (@Reuters) July 20, 2022

That deputy PM obviously understands the power of debt to enslave a person or a country.

Maybe, if he wins, he could explain that principle to Biden and the Democrats. They obviously haven’t figured out that the bill for being profligate will eventually come due.

Then again, maybe Biden, Pelosi, Sanders and Schumer all assume it won’t catch up to them until they’re long since dead and gone.

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