Your personal experiences with Chinese "debt trap"

[AsiaCel]

I heard that China debt traps countries, which may be true or not. The idea goes that:

- china offers tons of money with high interest rate
- poor countries attracted (they have no choice otherwise, or US don't like them
- they build bunch of shit and now added into the high interest rate, they can't pay back
- china takes control of the nation industries and economy

Whether that is true or not, how did that affected you in the daily life? Just curious.

 

[Zer0/∞]

If you fall for a Chinese debt trap, you deserve it. If you have an accountable, stable government even if you are a poor nation, you will never have to pay high interest rates to China.

 

[Emba]

Chinese's Finger trap is funner

 

[Dr. Butane]

Creating loans with high interest rates should be punishable by death