China today’s news

I think that third world countries desperately need a debt jubilee. Blair was right and it was disgraceful that anyone should object.

Only just dipping in here.

But third world debt has been as issue forced onto them by wealthy companies and countries for ever. I can remember Blair made a move to write off some of it which of course gave the Tories a heart attack!

nanna8

First world problems..

As the waste Casdon refers to is using resources which ‘second world’ countries can’t access, and which are contributing to climate change which they are less able to cope with, I think it’s everyone’s problem.

David49

“This is a problem for many poor countries. Foreign debt. It makes it hard for the country to fund essential public services and do its own development because most of any income it may have is spent on servicing foreign debt.”

It’s not just poor countries that have debt problems , so often promising more public services or lower taxes is used to gain more votes in an election, without any realistic prospect of balancing the economy. Resulting in even more borrowing.

The problem for the poor countries is that it is foreign debt, which has to be repaid in the currency of the country which lent it. This puts a tremendous strain on the country’s currency, which is inevitably valued very low against the lender’s currency. Thus draining the country of money which could be more effectively used internally.

This is not to be confused with the ‘debt’ of a country like the UK which has a much much smaller proportion of ‘foreign debt’ and has a more highly valued currency with which to make its interest payments.

First world problems..

Too much stuff is donated fancythat, so charity shops often don’t have the capacity to accept all the donations offered. You can hardly give stuff away on Facebook Marketplace now, and people struggle to get rid of old furniture, electrical good, curtains, etc.

Casdon

David49

MaizieD

China has been busily buying up parts of countries all over the globe for decades. It might have an appalling human rights record but it is strategically and economically very astute.

Yes, but has no morals whatever, it will pay whatever despotic supplier no questions asked, ignore climate change or pollution controls and treats its own population like cattle.
We have no chance competing with them

I think it depends what you mean by competing. There is definitely a movement in the UK to avoid waste, buy local, buy British, and buy more ecologically. There is so much surplus now that charity shops can’t accept donations. I think the tide is turning somewhat.

Surplus of what?

Clothes, old crockery and old toys are in ours.

“This is a problem for many poor countries. Foreign debt. It makes it hard for the country to fund essential public services and do its own development because most of any income it may have is spent on servicing foreign debt.”

It’s not just poor countries that have debt problems , so often promising more public services or lower taxes is used to gain more votes in an election, without any realistic prospect of balancing the economy. Resulting in even more borrowing.

Maremia

Yes David, winning in every direction. Remember one of the Caribbean islands gained independence recently?
When asked, how will they cope financially, replied that they were being helped by China. At the time I thought, you may come to regret this.

This is a problem for many poor countries. Foreign debt. It makes it hard for the country to fund essential public services and do its own development because most of any income it may have is spent on servicing foreign debt.

Yes David, winning in every direction. Remember one of the Caribbean islands gained independence recently?
When asked, how will they cope financially, replied that they were being helped by China. At the time I thought, you may come to regret this.

Maremia

And gaining lots of influence in the developing markets in Africa.

It’s much more insidious than that, in the cities Chinese owned businesses are on every street displacing local enterprises, 10 yrs ago I was travelling, we stopped at a rural village to pick up supplies, there was some local shops and a large well stocked supermarket - Chinese owned.

It’s not only resources, China is taking over the commerce in many developing countries, many governments, including SA, cannot afford to pay back the loans China has given them.

The UK's relationship with China is complex and will continue to be so. China controls some 90+% of the world's rare earth metal resources and processing plant necessary to modern manufacturing. The plant being built in the West is scheduled to process in one year what China processes in one day. That is one reason why managing the relationship with China cannot be reduced to single issue concerns and slogans.

And gaining lots of influence in the developing markets in Africa.

MaizieD

David49

MaizieD

China has been busily buying up parts of countries all over the globe for decades. It might have an appalling human rights record but it is strategically and economically very astute.

Yes, but has no morals whatever, it will pay whatever despotic supplier no questions asked, ignore climate change or pollution controls and treats its own population like cattle.
We have no chance competing with them

I know all that, David, but China has been prepared to develop its industry, and so its ability to sell to the rest of the world by investing in infrastructure and in education and development. Who pays the expensive overseas student fees for the hundreds of Chinese students at our local university's Business School each year?

I'm saying that their economic development strategy has been very effective.

So you really believe that sustaining the worst regimes and selling weapons to rebel groups that provide them with whatever they want including Russian oil at present is moral.

The UK could have behaved in that way and be much better off but we have a fatal concience.

David49

MaizieD

China has been busily buying up parts of countries all over the globe for decades. It might have an appalling human rights record but it is strategically and economically very astute.

Yes, but has no morals whatever, it will pay whatever despotic supplier no questions asked, ignore climate change or pollution controls and treats its own population like cattle.
We have no chance competing with them

I know all that, David, but China has been prepared to develop its industry, and so its ability to sell to the rest of the world by investing in infrastructure and in education and development. Who pays the expensive overseas student fees for the hundreds of Chinese students at our local university's Business School each year?

I'm saying that their economic development strategy has been very effective.

David49

MaizieD

China has been busily buying up parts of countries all over the globe for decades. It might have an appalling human rights record but it is strategically and economically very astute.

Yes, but has no morals whatever, it will pay whatever despotic supplier no questions asked, ignore climate change or pollution controls and treats its own population like cattle.
We have no chance competing with them

I think it depends what you mean by competing. There is definitely a movement in the UK to avoid waste, buy local, buy British, and buy more ecologically. There is so much surplus now that charity shops can’t accept donations. I think the tide is turning somewhat.

Yes. I agree. Very clever ,though. Seduce us all with very low prices and then - wham ,up they go and all the competition has been blown away.

MaizieD

China has been busily buying up parts of countries all over the globe for decades. It might have an appalling human rights record but it is strategically and economically very astute.

Yes, but has no morals whatever, it will pay whatever despotic supplier no questions asked, ignore climate change or pollution controls and treats its own population like cattle.
We have no chance competing with them

China has been busily buying up parts of countries all over the globe for decades. It might have an appalling human rights record but it is strategically and economically very astute.

China owns and influences a lot of activities in Australia. I wouldn’t want that happening in the uk. They have a lease on Darwin harbour and just today a Chinese drone flew very closely towards one of our aircraft. We have made a diplomatic protest but a fat lot of good it will do. I just don’t think Starmer is the man to protect you, anymore than Albo protects us.

Sunak had the right ideas but it was far too late the Tories were already beyond redemption.

Educated Indians are migrating to many countries, we get a lot in the UK so does the US as well as Australia

David49

nanna8

Starmer probably sees China as a blueprint for how he would wish the UK to be. Anyone who disagrees with the government is locked up or worse and they share his communistic philosophy- Starmer heaven.

Come on nanna that’s the grossest of exageration when it comes to China Australia is very vulnerable, if not dependant these days
With Trump causing chaos, Starmer is steering a steady course which is the correct action for now, you can have Badenoch if you want but I don’t think many other Aussies would.

I'm inclined to agree with David1949.

Starmer is a disappointment in some ways but, after the chaos of Johnson and Truss, we needed someone steadier.
Sunak is a good man, but not strong enough.

Certainly not Badenoch, thanks, she has been found to be economical with the truth more than once!

China's influence is growing Down Under, in New Zealand and the Pacific as well as Australia too.
Actually, Australia, so I am told, is becoming a magnet for people from India too.

Susieq62

Nanna 8 if you like Badenoch then you really know very little about our politics apart from what you choose to read! Rude as well which I actually wasn’t to you ! No doubt you like Farage as well !

Your post was extremely rude as is your next retort.
But if you don't realise that, perhaps there's no point in saying so. 🤔

nanna8

Starmer probably sees China as a blueprint for how he would wish the UK to be. Anyone who disagrees with the government is locked up or worse and they share his communistic philosophy- Starmer heaven.

Come on nanna that’s the grossest of exageration when it comes to China Australia is very vulnerable, if not dependant these days
With Trump causing chaos, Starmer is steering a steady course which is the correct action for now, you can have Badenoch if you want but I don’t think many other Aussies would.

Susieq62

Nanna 8 if you like Badenoch then you really know very little about our politics apart from what you choose to read! Rude as well which I actually wasn’t to you ! No doubt you like Farage as well !

I seem to remember praise for Trump at one time, too, but am happy to be corrected on that…