YOURSAY | ‘Those projects are not investments. They are inflated loans from big brother…’
Vijay47: Moneylending, in whatever attractive form it may appear, must be the second oldest profession where the oldest at least offers some fleeting moments of pleasure.
Those providing Shylock's game of course come across initially as Santa Clauses and once the debtor is well and truly hooked, line and sinker, their real face of... well, Shylock, is revealed.
The quality of mercy may blesseth him that gives loans but usually not him that takes and while international finances can be dolled up in elegant words, they still are of the old shell game.
More basic examples of such servitude would be workers hocking their modest assets to venture into new worlds in the hope of new lives; locals of course will seek the services of Ah Longs.
In Malaysia now, the government suddenly cannot get enough from China or give enough to them, at least until they are shanghaied or railroaded.
I wonder when default sets in big time, where the red paint would be flung, Putrajaya or Pekan?
Legit: With the US under Donald Trump pulling back on its Asia pivot, China has a great opportunity to dominate the smaller nations in Asia, particularly Southeast Asian countries.
Nobody is saying Chinese economic leadership for the region is bad, but the countries should be prudent in not giving China unlimited access and desperately selling off their precious resources.
In this sense, Malaysia is in a terribly vulnerable position because its prime minister is allegedly desperately trying to cover the huge black hole created by his pet project 1MDB and due to his own indiscretion.
It looks like Malaysia will fall into the ‘China trap’ after all.
Najib's Clowns: To the critics of China, do you always blame your own failings and folly on others? What have you to show in your track records of about half a century of kleptocracy, from a roaring young tiger to an abused wet pussy.
If a country has failed to manage its funds wisely and needed China to give a helping hand to build their infrastructure, why blame the giver?
Looking back at history, the Western colonial masters raped developing and underdeveloped nations, and if aid was given, they came with a long string attached. China have a win-win policy and to date, no nation has complained.
The Analyser: Najib's Clowns, where would you be today if it weren't for "the way that the Western colonial masters, raped developing and underdeveloped nations”? An uneducated peasant slaving for your communist masters, I would suspect.
Even if China has access to natural resources, they have to extract and pay royalty on a per tonne basis. It’s actually, a win-win partnership.
The only thing I noticed is that China loves to invest in countries which are ‘tinpot democracies’ and where politicians are corrupt - the more the better. Anyone knows why?
Drngsc: Malaysia is unique. We have a PM who needs cash quickly and the People’s Republic of China (PRC) is only too happy to ‘lend’ him some.
Those PRC projects are not investments. They are inflated loans from big brother ‘Ah Longs’. Partly for the project, and partly to Malaysian Official 1's (MO1) private fund to repay 1MDB.
Our future generations will have to pay off the billion ringgits of debt.
Retnam: Just look at what MO1 did. He went to China and praised China sky high. This could never have happened about eight years ago before the swindling of 1MDB money allegedly started.
Now the China ambassador is the flavour of the month in local lecture circuits, if you want to call them that. The ambassador has started to lecture to Malaysians how they must behave. And Falun Gong cannot have a peaceful procession in Kuala Lumpur because China will be upset.
Ahbengkia: I think China is clever in playing this game. They just have to handle the ruling elites, and everything will fall into place. Ruling elites of most third countries, Malaysia included, can't protect the interests of the people.
Even if there is a change of government, the Chinese would know how to deal with the new regime - third world tribal leaders are easily bribed to toe the Chinese line.
Just a Malaysian: China’s government-linked companies (GLCs) are part of its economic state apparatus to further China’s strategic interests. They are smart , purposeful and very far-sighted. Umno’s ‘dedak’ (animal feed)-eaters and ministers are no match for them.
PAS’ only concern is for sex offenders to get more lashes or thieves getting their hand chopped off . In the meantime, our country is being ‘sold’.
Hplooi: This is exactly as I have opined; viz, that China's aid should be accepted with a lot of caution.
In reality, Malaysia with its natural resources should not need to resort to the international money market for infrastructure development. We are forced to do so because our ruling elite have allegedly sucked us dry.
As a middle-income nation breaking into high income, we need an infusion of high-technology, not more property investments. And I doubt China can provide us what we need.
All financial aids from developed countries come with 'strings' attached. Usually such 'strings' are to benefit the economy or export or service industry of the country giving out aid. Some strings are less 'onerous', some are more.
USAID (United States Agency for International Development) have a similar agenda of using aid to expand 'soft influence'.
Most specifically, aid from some countries may be subject to oversight for possible corruption money-laundering, etc.
The attraction of 'no-strings' (that's why authoritarian countries love China loans) is really the zero oversight on how the loans will be used or abused by the elite. This is made easier where money need to be laundered. And this is the real meaning of ‘no-strings’.
Can you imagine if (say) the 1MDB ‘heist’ was operationalised via China’s banking system? We would never see any paper trail.
Tony Soprano: Indeed, the assumption is always that China's finances are first-rate. The fact is, being centrally-minded good little communists, they don't know how to run their banking system, and this will catch up with them.
Just google China's banking system troubles and you'll find multiple sources.
Paul Warren: Too late. So now instead of 'ketuanan Melayu', it is 'ketuanan China'? Wonderful. What difference does it make to me?- Mkini
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