how many countries has china taken over

Is climate change killing Australian wine? China does not publish records of its foreign loans, and the majority of its contracts contain non-disclosure clauses which prevent borrowers from revealing their contents. In the 15th century, China occupied Vietnam from 1407 to 1427. Our data show that almost all of Chinas lending is undertaken by the government and various state-owned entities, such as public enterprises and public banks. Looking ahead, we find that credit outflows from China have slowed markedly since 2015, in parallel to Chinas ongoing domestic economic slowdown. The resulting database provided the first comprehensive picture of Chinas overseas debt stocks and flows worldwide, including nearly 2,000 loans and nearly 3,000 grants from the founding of the Peoples Republic in 1949 to 2017. Outside of Singapore and Malaysia, people in every nation surveyed have more confidence in Biden than in Xi and in Poland and Sweden, the difference is greater than 60 percentage points. please visit our agency website, Your contact to the Infographics Newsroom, Find your information in our database containing over 20,000 reports. The initiative, however, comes across as far too little, too late. All rights reserved. Almost all of this lending is official, coming from the government and state-controlled entities. The Paris Club used to hold the majority of low-income countries debt before it was restructured and largely forgiven after the turn of the millennium for qualifying, developing countries. Laos is one of the poorest countries in the region and couldn't afford even a fraction of the cost. It will be very near impossible for the US or others to catch up on that, especially with the planned B3W initiative, because that initiative is not focused on much-needed tangible investments. The two countries have stood side by side for many decades. Beijing alleges that it owns large parts of Laos on historical precedent dating back to the Yuan Dynasty, said The Print. However, Laos had to take out a $480m loan with a Chinese bank to fund its small part of the equity. Failing to account for these hidden debts to China distorts the views of the official and private sectors in three material ways. Countries can be difficult borrowers, Gelpern explains, and it's not practical to expect them to hand over a physical asset like a port if they're unable to pay their debts. China and Japan have repeatedly clashed over a group of uninhabited islands called the Senkaku Islands in Tokyo, the Diaoyu Islands in Beijing and theTiaoyutai Islands in Taiwan. In other words, countries worldwide owed more than 6% of world GDP in debt to China as of 2017. ", Retired teacher Liu Quan, 57, said he doesn't care about the population news at all. Eventually, if debtors are unable to service their debts, China takes over its collateral which is mostly in national assets. Our standard is 660 pixels, but you can customize how the statistic is displayed to suit your site by setting the width and the display size. It is often kept off government balance sheets, directed to state-owned companies and banks, joint ventures or private institutions, rather than directly from government to government. As has been shown in the Ukraine, Russia cannot successfully project military power outside its own borders. 2) Private sectors will misprice debt contracts, such as sovereign bonds, if they fail to grasp the true scope of a governments debts a problem thats compounded by the collateral clauses in many Chinese official loans, meaning that China will get preferential treatment when it comes to repayments. China has illegally occupied a 38,000 sq km of India's land in Aksai Chin. The BBC is not responsible for the content of external sites. Why China Is Taking over Africa's Resources One Country at a Time. Which topics are covered by the "Chart of the Day"? Feel free to contact us anytime using our contact form or visit our FAQ page. FILE - China Shipping Company containers are stacked at the Virginia International's terminal in Portsmouth, Va., May 10, 2019. "The U.S. and Japan have smaller populations, but it doesnt mean theyre not strong powers. To China, being the most populous nation "doesnt count for anything" in and of itself, he told NBC News in an email. For non-U.S. data, we draw on nationally representative surveys of 20,944 adults from Feb. 14 to June 3, 2022. What are 'debt traps' and what's the evidence for them? England and Wales company registration number 2008885, Subscribe to TheWeek. In the long run these Belt and Road debt traps created by the China CCP will backfire on China because the African nations will default on them just like they default on IMF and WB loans. BEIJING Size isn't everything it's what you do with it that counts. Well over 100 countries worldwide had instituted either a full or partial lockdown by the end of March 2020 . Gatestone Institute is a 501(c)3 not-for-profit organization, Federal Tax ID #454724565. A deal with Venezuela, for example, demands the Venezuelan borrower deposit the foreign currency earned by selling oil directly into a bank account controlled by China. They're very much protecting their interests.". Beijing "alleges that it owns large parts of Laos on . wonders Anna Gelpern, a Georgetown law professor who was involved in an AidData study earlier this year examining Chinese development loan contracts. When it comes to views of the U.S., the pattern is more varied. This approach is rarely seen in loans issued by western lenders. Video, 00:02:36, On board the worlds last surviving turntable ferry. This control threatens the ability of U.S. companies to access key supplies." Port projects, economic endeavors, infrastructure and their agreements and contracts will lead to greater access in the future. Chinese Communist Party officials have unveiled an "action plan for cooperation" with Latin American countries that amounts to a "comprehensive" plan to . Russia and China both seek to convert soft and hard power investments into political influence, strategic access, and military advantage. The country is accused of leveraging massive loans it holds over. As the new preferred lender to low-income countries, China held 37 percent of these nations' debt in 2020. Creative writing classes for kids and teens Young Writers' Hangout on May 11, 18, 25 (1:30 pm-3pm; stand-alone sessions) at . China has the impoverished workers willing to risk their lives for a few extra bucks in Africa. Beijing residents focus on superpowers as India's population exceeds China's. April 21, 202301:14. The AidData researchers found that the Belt and Road project is facing its own issues. The sheer amount of Chinese lending is startling. Gatestone also reserves the right to edit comments for length, clarity and grammar, or to conform to these guidelines. One of Laos' few sources of profit, the proceeds of its potash mines, were used to back the massive loan. Please note that the code must be integrated into the HTML code (not only the text) for WordPress pages and other CMS sites. If a debt payment is missed, the Chinese lender can immediately withdraw the cash waiting in the account. China has repeatedly demanded that Indonesia halt an oil and natural gas project in the region, Nikkei Asia said, claiming that the efforts to extract natural resources are an infringement on its territorial waters. Across most countries surveyed, more educated people are more likely to say Chinas power is growing. Evaluations of Americas global influence vary more widely. No part of the Gatestone website or any of its contents may be reproduced, copied or modified, without the prior written consent of Gatestone Institute. In addition, many Chinese loans are backed by collateral, meaning that debt repayments are secured by revenues, such as those coming from commodity exports. "Population does not equal national power," said Zhang Han, 29, a business student from the eastern province of Shandong. Since 2013, Argentina, Mongolia, Pakistan, Russia and Turkey all have made use of their RMB swap lines in periods of market distress. China hands out at least twice as much development money as the US and other major powers, new evidence shows, with most of it coming in the form of risky high-interest loans from Chinese state banks. "We just want peace" between the quarreling neighbors, he said. Visit our corporate site www.futureplc.com Future Publishing Limited, Quay House, The Ambury, Bath BA1 1UA. The decision followed a warning by Chinas ambassador to the US that the countries could descend into military conflict over the independence of the government in Taipei. What's important is "to be seen as a developing, modern, and functional country.". Widely regarded as an economic miracle, China embraced widespread centralized economic reforms, averaging a GDP growth of 10% annually and lifting half of its 1.3 billion people out of poverty . China's lending for construction projects around the world has proved controversial, Sri Lankans protest against a proposed Chinese company stake in Hambantota port (2017), Interest rates on Chinese loans are higher than those from some other lenders. The claim is that China lends money to other countries, which end up having to cede control of key assets if they can't meet their debt repayments - an accusation that's been long denied by Beijing. Jace Zhang reported from Beijing, and Alex Smith reported from London. The survey is weighted to be representative of the U.S. adult population by gender, race, ethnicity, partisan affiliation, education and other categories. But officials in Beijing have in fact long been concerned that their nations porous borders with Myanmar are facilitating drug production and trafficking in all manner of contraband, as well as providing an outlet for illicit capital flows. That is reportedly "$8 billion more than the other top eight lenders combined". (+1) 202-857-8562 | Fax Not too long ago China received foreign aid, but now the tables have turned. Across the surveyed countries, a median of 32% describe U.S. influence as getting stronger, while 37% say it is staying the same and 27% say it is getting weaker. For individual content and infographics in your Corporate Design, How the West Is Helping Train China's Military. Much of the debt owed to China relates to large infrastructure projects like roads, railways and ports, and also to the mining and energy industry, under President Xi Jinping's Belt and Road Initiative. They want to eat and they want infrastructure. Be it Ladakh or South China Sea, China seems to have been making unfounded claims in different parts of the world for a long time. Most populous nation: Should India rejoice or panic? 2023 BBC. This is the widest gap observed among all 19 countries. This gap in perceptions is largest in Australia, where more than three times as many say China's influence is growing than say the same about American influence (73% vs. 19%). Over the past two decades, China has become a major global lender, with outstanding claims now exceeding more than 5% of global GDP. China is lending differently: instead of financing projects by granting or loaning money from one state to another, almost all the money it's handing out is in the form of state banking loans. Here's a thought: Let the European Union deal with Africa and let the United States deal with South America. Numbers, Facts and Trends Shaping Your World, Fast facts about views of China ahead of the 2022 Beijing Olympics, Large Majorities Say China Does Not Respect the Personal Freedoms of Its People, Most Americans Have Cold Views of China. At the same time, however, there are no countries where more than half say U.S. influence is weakening, either. In 2000, trade between China and Africa had been at a mere $11 billion. The talks came only two months after Wang Yi visited Eritrea, Kenya and Comoros. How many World Bank loans or IMF loans have African nations defaulted on or better yet how many of these loans have been fully paid back without being refinanced by more WB or IMF loans? "[Those new initiatives] will not have enough real money to address the scale of infrastructure needs in the developing world. The state broadcaster CCTV said China, which the World Bank credits with lifting almost 800 million people out of poverty in the past 40 years, was being slandered despite creating a miracle of sustainable and stable economic development with a huge population.. Read the "Chung Kuo: Middle Earth" series by David Wingrove. All surveys were conducted over the phone with adults in Canada, Belgium, France, Germany, Greece, Italy, the Netherlands, Spain, Sweden, the United Kingdom, Japan, Malaysia, Singapore and South Korea. Djibouti, Laos, Zambia and Kyrgyzstan have debts to China equivalent to at least 20% of their annual GDP. It argues that such confidentiality is common practice for international loan contracts. The BBC reported at the time that, according to the Global Times, there had been several clashes between Inner Mongolians and residents of Gansu province in the area. The articles printed here do not necessarily reflect the views of the Editors or of Gatestone Institute. Let the Chinese have Africa. After the Ukraine conflict has been stabilized and Putin has been forced out of power (eliminated) Russia will be reduced to a second rate power at best (with nuclear weapons) with only its petroleum products to sell to Europe. The Week is part of Future plc, an international media group and leading digital publisher. Read about our approach to external linking. The Hong Kong authorities have arrested more than 110 people in national security investigations over the past year, charging 64, including most of the city's best-known pro-democracy activists . Chinas growing role in international finance has remained obscure, mostly due to a lack of data and transparency. "Beijing uses its influence in Africa to gain preferential access to Africa's natural resources, open up markets for Chinese exports, and enlist African support for Chinese diplomatic priorities on and beyond the continent.". John Richardson is a researcher based in the United States. Until 1986, the total territory (or under control) of the PRC was 10.45 million km 2, including: [1] Continental mainland: ~9.60 million km 2. This control threatens the ability of U.S. companies to access key supplies.". China is now Africa's largest trade partner. Views of Biden remain much more positive than views of Xi. Beijing began raising the question of sovereignty over the islands in the the 1970s when evidence of oil reserves in the regionsurfaced. What China's One Belt, One Road really means. And this is all before the railway has even begun operations. Vietnam maintains its territorial claim over regions of the South China Sea and the Macclesfield Bank, Paracel Islands and the Spratly Islands. Can I integrate infographics into my blog or website? BUT it was visible to any intelligent human being since at least 15 years ago. The hostility, which triggered an angry protest from Manila, was the latest flare-up in the South China Sea, with China claiming virtually the entire waterway and transforming seven disputed shoals into missile-protected island bases. 2023 Gatestone Institute. Read about our approach to external linking. China was able to do so by lending those countries massive amounts of money they can never repay. While Biden vegetates Xi is trick or treating across Africa.It's the American version of "while Rome burned".It will be interesting to see how Red China deals with Islamists. But prominent voices in China . Overview and forecasts on trending topics, Industry and market insights and forecasts, Key figures and rankings about companies and products, Consumer and brand insights and preferences in various industries, Detailed information about political and social topics, All key figures about countries and regions, Market forecast and expert KPIs for 600+ segments in 150+ countries, Insights on consumer attitudes and behavior worldwide, Business information on 70m+ public and private companies, Detailed information for 35,000+ online stores and marketplaces. On the streets of Beijing, the mood was similar. However, the plan might simply have come along too late. Fears that China could launch an invasion of Taiwan have dominated headlines for months, fuelled by a series of incendiary interventions by senior officials in Beijing. . In each country surveyed, more than half of adults say Chinas influence in the world is strengthening. It has been suggested that Beijing has bought its silence over territorial issues, The Diplomat said, due to an influx of investment that coincided with the suppression of anything that might be deemed mildly critical of China. But while many more continue to have confidence in Biden, positive views of his leadership have taken a downward turn in the past year, falling by double digits in nearly every country surveyed. At the time, the wall was often framed as an attempt by China to keep dissidents from fleeing the country, The Diplomat said. Alexander Smith is a senior reporter forNBC News Digital based in London. Following an unsuccessful uprising in 1959, Tibets spiritual leader, the Dalai Lama, fled to India, where he set up a government in exile. world relating to economic and political issues as well as In November, Chinese vessels blocked and used water cannons on two Philippine supply boats that were heading to a disputed shoal occupied by Filipino marines in the South China Sea, The Guardian reported. Starting in 2013, it leverages China's expertise in infrastructure projects, and ample foreign currency, to build new global trading routes. The initiative, however, comes across as far too little, too late. Contact: info@gatestoneinstitute.org How will China collect the debt? As we mentioned in our previous post, the US has offered a latest estimate of Russian troops killed in Ukraine. Last month Voice of America reported that Beijing had begun construction of villages and settlements along its Himalayan borders. A twisting railway running between China and the neighbouring country of Laos is often touted as a prime example of China's off-the-books lending. The U.S. is generally seen more positively than China. "I believe both India and China dont want conflict.". CORRECTION (Aug. 29, 2022): Due to an editing error, a previous version of the text mischaracterized favorable views of the U.S. in South Korea. In September, Radio Free Asia reported that residents of Myanmars northern Shan state had destroyed a fence built by Chinese authorities, claiming it encroaches on their countrys territory. In most countries, majorities have a favorable view of the U.S., while fewer than around a third tend to say the same of China. China shares a contiguous border of 292 miles with Bhutan and territorial disputes have been a source of potential conflict. Instead, its four focus areas are climate, health and health security, digital technology, and gender equity and equality. Finally, in 2017, Sri Lanka agreed to give state-owned China Merchants a controlling 70% stake in the port on a 99-year lease in return for further Chinese investment. Facing a demographic crisis that could undermine the government's bid to rival the United States, Chinese officials and state media balked at Western coverage of new data projecting India edging ahead of mainland China by the middle of this year, if it hasn't already. In March alone, Chinese Foreign Minister Wang Yi held bilateral talks with his African counterparts in Algeria, Egypt, The Gambia, Niger, Somalia, Tanzania and Zambia. Whether such a process will be available for Chinese debt is unclear. restructured and largely forgiven after the turn of the millennium, Our infographics team prepares current information in a clear and understandable format, Relevant facts covering media, economy, e-commerce, and FMCG topics, Use our newsletter overview to manage the topics that you have subscribed to. The western media are constantly blaming Europe's and the US policies in Africa as "racist" "neocolonialist" "ill-advised" "self-serving" etc with hardly a word on China's actions on that continent. New data this week said that China will soon no longer be the world's most populous country. However, engineers warned the cost would be prohibitive: tracks would need to run through steep mountains, requiring dozens of bridges and tunnels. In Australia, the Netherlands and Sweden, for example, younger people have much less positive views of the U.S. than older people do. Enter China's ambitious bankers: with backing from a group of Chinese state companies and a consortium of Chinese state lenders, the $5.9bn railway is set to begin operations in December. This has led to its dispute with several countries, such as Taiwan, the Philippines, Indonesia, Vietnam, Japan, India, South Korea, North Korea, Singapore, Brunei, Nepal, Bhutan, Laos, Mongolia and Myanmar. Pictured: Townsend (center) reviews an honor guard of the of the Djiboutian Armed Forces with Lt. Gen. Zakaria Cheikh Ibrahim, Djiboutian chief of staff, in Djibouti City on August 8, 2019. Our research, based on a comprehensive new data set, shows that China has extended many more loans to developing countries than previously known. Both countries also have a long history of invading other countries. As a result, private investors and other competing creditors may underestimate the risk of default on their claims. In both instances, the Chinese invaders were defeated with the help of the kamikaze, "divine winds" of typhoons that destroyed the ships of the Chinese invaders. China has become a big lender to poorer countries, and there's been criticism of its approach. "I'm sceptical that Western initiatives will make much of a dent in the Chinese programme," says David Dollar, senior fellow at the Brookings Institution and the former US Treasury representative in China. Most Chinese loans have helped finance large-scale investments in infrastructure, energy, and mining. Views of Xi, by comparison, have remained largely unchanged over the past year, though they continue to hover at or near historic lows in most places. China is alarmed by the Quad. Commenters' email addresses will not be displayed publicly. Africa is important to China for several reasons. Different G7 partners will have different geographic orientations, but the sum of the initiative will cover low- and middle-income countries across the world.". "We hear from public officials in China all the time, saying 'Look, you're in the only game in town'," explains Brad Parks, executive director of AidData. Singapore: Even though they entered a . In 12 of the 18 countries surveyed, including the U.S., those under age 30 have more favorable views of China than those ages 50 and older, with the largest difference in Japan. Another South China Sea dispute. That's what partly stagnated the economy of neighboring Japan, despite it already being a high-income country. General Stephen Townsend, Commander of United States Africa Command, Senate Armed Services Committee, March 15, 2022. According to a Biden administration fact-sheet about the initiative: "President Biden and G7 partners agreed to launch the bold new global infrastructure initiative Build Back Better World (B3W), a values-driven, high-standard, and transparent infrastructure partnership led by major democracies to help narrow the $40+ trillion infrastructure need in the developing world "B3W will be global in scope, from Latin America and the Caribbean to Africa to the Indo-Pacific. For an optimal experience visit our site on another browser. Such loans don't show up in official accounts of government debt. In the absence of a serious coordinated international effort, China will go on to fill that infrastructure gap, as it continues to consolidate its influence in Africa while the US lags behind. Also, working with Western official financiers is bureaucratic and subject to long delays.". Need infographics, animated videos, presentations, data research or social media charts? The last comparable surge in state-driven capital outflows was the U.S. lending to war-ravaged Europe in the aftermath of World War II, including programs such as the Marshall Plan.
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