I recently attended a lecture on “China’s Belt Road & India” at VIF, delivered by RN Ravi, Chairman of Joint Intelligence Committee, Bharata Sarkara, reporting to Cabinet Committee on Security headed by PM.
It was well-attended by large number of senior security men, diplomats, ambassadors and policemen, all retired.
One Belt One Road Initiative was actually started in the year 2000 albeit announced in 2013 !! Chinese have an aggressive policy of acting first, announcing much later while we act much later but announce instantaneously.
Chinese are addicted to double digit growth, now a mirage that they are constrained to chase otherwise they cannot sustain their huge population and outburst of public unrest in China is a real possibility.
So they move around the world, spot gullible countries / leaders who can be hustled into buying their silly dreams of progress and development after creating artificial demand. CPEC project in Pakistan is one such example. Pakistan do not need Gwadar port at all as capacity-utilisation of their existing two ports is below 50% !! Port developed by Chinese in Sri Lanka has the same sad tale to tell. Chinese developed an airport in Sri Lanka which they did not need and today the airport services just one flight in 24 hrs. !!!
In all such projects, they insist on doing everything themselves, from DPR to financing by Chinese banks at high interest rate in Yuan, contracting to Chinese companies alone, only Chinese bidders allowed, calling Chinese labour (to generate employment at other’s cost), placing orders for supplying equipment on Chinese companies only, maintenance by Chinese….
Invariably, projects turn non-viable and the host country is unable to pay back expensive Chinese loans in Yuan for two reasons, host country does not have Yuan due to huge trade deficit maintained by dumping of cheap Chinese goods and projects refusing to generate surplus owing to it’s non-viability right from the word go.
Next possible option is to payback in US $$ which the host country may not have. Then Chinese force the host country to convert Yuan loans into equity to create ownership of the infra-structure project. Once converted into equity, they start bullying the host country (they are doing that in Bangladesh right now) to allocate more land, develop infrastructure for them so that they can relocate lot of Chinese manufacturers of various goods from China to generate surplus for projects !!!
They relocated host of readymade garment manufacturers to Bangladesh and forced entry into our market taking cover under WTO obligations as now these are goods manufactured in Bangladesh and not in China !!!! What a grand way to hoodwink WTO and countries like Bharata who do not allow free run on their economy for Chinese manufacturers !! Same dirty tricks are in action in Sri Lanka and Nepal too. In case of Nepal, they have adopted Lumbini, birthplace of Buddha for all round development !!! You can jolly well conclude, implications thereof in future for us.
So, their strategy is to create debt-trap for weak countries to serve their selfish strategic motives. they have been very busy in Africa too, with the same sinister intentions
Lot of brainstorming is going on in the Government on how to combat Chinese within the framework of international treaties.
I raised a question as to whether recent killing of two Chinese by Talibanese in Pakistan marks begining of creation of Afghanistan in Pakistan in response to Russian invasion, the intelligence sleuth responded, those two Chinese were Christian missionaries trained in South Korea while Chinese are already being target of attacks in Pakistan.
By boycotting Chinese goods, we shall be doing a great service to our country and assist Modi Government a lot in effectively combating Chinese.