BrownMan65

BrownMan65 t1_jegxrnb wrote

Honestly public humiliation seems like a pretty effective punishment that we should use way more often. You are presumably representing the people and so if you are not living up to that responsibility then you should be shamed for it so that you get your act together. If you continue to fail then eventually you just get kicked out and someone else can be elected to take your place.

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BrownMan65 t1_je99ig6 wrote

Because unverifiable anecdotes are worthless to the conversation. If it is true, great good for him. It’s still an anecdote and again worthless to the conversation. There’s more than enough proof showing that just sending prisoners out into the world with no support increases recidivism.

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BrownMan65 t1_jdxctil wrote

>That’s beside the the point

No that's literally not besides the point. That is the point. Sri Lanka mismanaged the whole project and couldn't pay their debts because they didn't follow the plans that were established for them. It is not China's, or any country's, duty to baby a nation if they decide they want to go their own path. If Sri Lanka decides they want to move on with phase 2 immediately after phase 1, then that is solely on Sri Lanka and no one else.

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BrownMan65 t1_jdx1r2y wrote

They couldn't pay back the loan because they literally did not take the time to allow phase 1 to bring in revenue. Just because it was completed in 2010 does not mean that shipping lines are immediately established with the new port in mind. It takes time for things like that to change and before that could happen, phase 2 was started. What do you think happens when you have a loan that you haven't made progress on and then take out a second loan that is over 2x more than the first one? It's not really a crazy concept here and is a failing of the Sri Lankan government.

On top of that, the loan did not come with an agreement for China Merchant Port to take 65% stake. Sri Lanka sold part of their stake to the company in 2017 as a means of paying down their debt. The loan that Sri Lanka took from Exim even came with a post crisis interest rate of 2%, nearly 5x lower than anything the IMF has offered Sri Lanka.

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BrownMan65 t1_jdwv9hs wrote

>In Hambantota, instead of waiting for phase 1 of the port to generate revenue as the Ramboll team had recommended, Mahinda Rajapaksa pushed ahead with phase 2, transforming Hambantota into a container port.

The President of Sri Lanka pushed for the second phase to begin immediately before phase 1 could begin to generate revenue which ballooned the country's debt. Again, I'm not sure how you can blame China for this.

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BrownMan65 t1_jdwtdef wrote

> It was the Canadian International Development Agency—not China—that financed Canada’s leading engineering and construction firm, SNC-Lavalin, to carry out a feasibility study for the port. We obtained more than 1,000 pages of documents detailing this effort through a Freedom of Information Act request. The study, concluded in 2003, confirmed that building the port at Hambantota was feasible

>We reviewed a second feasibility report, produced in 2006 by the Danish engineering firm Ramboll, that made similar recommendations to the plans put forward by SNC-Lavalin

Please shut up. You're too stupid for your own good.

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BrownMan65 t1_jdwqi6h wrote

https://data.imf.org/regular.aspx?key=61545855

You can search up Sri Lanka and find the interest rates that the IMF is charging them as well as other countries. You're literally just making up lies at this point.

https://www.imf.org/external/np/fin/tad/extarr2.aspx?memberKey1=895&date1key=2018-09-30

Here's all the times the IMF lent money to Sri Lanka. The latest was in 2016 but I'm sure that's totally not predatory at all.

Also here you go again, not reading the link I sent from The Atlantic. The article even states that other countries were asked first to help build the port. A Canadian and later Danish company were even contracted to do feasibility studies. They took this information and approached the US and India to help fund the construction of the port and both said no. Eventually a Chinese construction company won the bid and a Chinese bank agreed to fund the project.

>The Canadian project failed to move forward, mostly because of the vicissitudes of Sri Lankan politics

>We reviewed a second feasibility report, produced in 2006 by the Danish engineering firm Ramboll, that made similar recommendations to the plans put forward by SNC-Lavalin

>Armed with the Ramboll report, Sri Lanka’s government approached the United States and India; both countries said no. But a Chinese construction firm, China Harbor Group, had learned about Colombo’s hopes, and lobbied hard for the project. China Eximbank agreed to fund it, and China Harbor won the contract.

All you have to do is read. I gave you all your answers and you still continue to just be completely wrong. At this point it has to be on purpose.

Here's the most important part that you should probably come to understand though.

>The Central Bank governors under both Rajapaksa and Sirisena do not agree on much, but they both told us that Hambantota, and Chinese finance in general, was not the source of the country’s financial distress.

>Before the port episode, “Sri Lanka could sink into the Indian Ocean and most of the Western world wouldn’t notice,” Subhashini Abeysinghe, research director at Verité Research, an independent Colombo-based think tank, told us. Suddenly, the island nation featured prominently in foreign-policy speeches in Washington. Pence voiced worry that Hambantota could become a “forward military base” for China.

You and every other western person only gives a shit about Sri Lanka because China helped build a port that the rest of the world refused to help them with. If the US had built that port and the exact same circumstances had happened, you wouldn't have batted an eye. You would be here blaming their government for their mismanagement of the country. Instead you're blaming China because you've bought into the bullshit propaganda about Chinese debt trap diplomacy and believe that China is out to get you.

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BrownMan65 t1_jdw2y0h wrote

>When Sirisena took office, Sri Lanka owed more to Japan, the World Bank, and the Asian Development Bank than to China. Of the $4.5 billion in debt service Sri Lanka would pay in 2017, only 5 percent was because of Hambantota.

Are you just knowingly not reading the article or the parts that I quoted? You're seriously mad at China for loaning money at a lower interest rate than every other country that loaned them money? Also their total debt to China is less than every other country. It's so obvious that you're just looking for any reason to hate on China instead of actual dealing with reality.

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BrownMan65 t1_jdvyeg1 wrote

>Our research shows that Chinese banks are willing to restructure the terms of existing loans and have never actually seized an asset from any country, much less the port of Hambantota.

>In Hambantota, instead of waiting for phase 1 of the port to generate revenue as the Ramboll team had recommended, Mahinda Rajapaksa pushed ahead with phase 2, transforming Hambantota into a container port. In 2012, Sri Lanka borrowed another $757 million from China Eximbank, this time at a reduced, post-financial-crisis interest rate of 2 percent. Rajapaksa took the liberty of naming the port after himself.

>When Sirisena took office, Sri Lanka owed more to Japan, the World Bank, and the Asian Development Bank than to China. Of the $4.5 billion in debt service Sri Lanka would pay in 2017, only 5 percent was because of Hambantota.

Yes. The current state of Sri Lanka is due to shitty leadership and even shittier loans from basically everyone but China.

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BrownMan65 t1_jdvrlwp wrote

>You do réalisé Chinese build these crappy mega projects at huge interest loans that get put through with bribes to their politicians and then the country is in debt to china forever

This Chinese debt trap bullshit has been debunked time and time again. Even the original article about it was written by some random graduate students several years ago with absolutely no knowledge about the deals. When even The Atlantic is publishing articles about how it's a myth, you should probably do some introspection on the amount of propaganda you've bought into.

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BrownMan65 t1_jaezldf wrote

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BrownMan65 t1_j9tcjgl wrote

The US bombs the Middle East for 20 years and no one bats an eye. China manufactured goods for the entire world which causes pollution by default and you’re here calling for them to be nuked? Holy shit you couldn’t be anymore of a fucking racist even if you tried. This is actually the most unhinged comment I’ve seen in a while on this site.

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BrownMan65 t1_iv2vivw wrote

4.5 billion metric tons from the US in 2020

2.4 billion metric tons from India in 2020

2.7 billion metric tons from the EU in 2020

10.7 billion metric tons from China in 2020

China is the outlier here as they are also the manufacturing center of the world. Those numbers for the US and Europe would be drastically different if all their manufacturing hadn't been offshored to other countries. So tell me again which countries are being accommodated for because from where I'm standing, it's not India or even China all things considered.

>If a country manages it's population in a reasonable way they deserve a higher standard of living

Edit: Never mind just realized you're one of those insidious racists who think that everyone should be punished if they don't act exactly according to the way the white part of the world wants them to act. You think that the whites did everything the right way and that should be emulated even though their way of doing it literally destroyed the world in the process. Now that countries are trying to catch up you're trying to take some bull shit moral high ground without even acknowledging all the destruction the west has caused to get to where it is today.

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