look news india
Chinese President Xi Jinping made a big announcement on Thursday. He has promised $51 billion in funding for the African continent. China has promised to triple infrastructure projects and create 1 million jobs in the debt-ridden but resource-rich African continent. Xi Jinping made this announcement during the China-Africa Cooperation Summit in Beijing.
Pakistan and Sri Lanka drowned in China's debt trap!
According to information, many countries have taken 50 percent of their foreign debt from China and most countries spend more than one-third of their government money on this debt. Two of these countries, Zambia and Sri Lanka, have already defaulted and are unable to pay interest on loans taken to build ports and mines as well as power plants.