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China’s New $6B Railway in Laos: Massive Debt Trap or Megaproject Success? | WSJ Breaking Ground
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- čas přidán 18. 08. 2024
- A $6 billion Chinese-built railway in Laos is transforming a small town on the border of China, easing transportation and promising new products for export. The 262-mile rail line is a key part of China’s Belt and Road Initiative, aimed at upgrading trade and transport networks from Africa to the Pacific.
China is looking to link its companies with new overseas markets while Laos has hopes of growing a robust export market. But what are the costs of developing this massive infrastructure?
WSJ explores the ambition behind China’s envisioned rail network, the economic implications for Laos and challenges as other railways eye development.
Chapters:
0:00 High-speed railway
0:48 What China and Laos stand to gain
2:50 The funding for the project
5:41 Diplomatic relations
7:18 Challenges ahead
Breaking Ground digs into megaprojects around the world, uncovering what these developments might mean for the surrounding region and the ultimate costs.
#China #Megaprojects #WSJ
Let me summarize what this video is about: Third world countries only have the obligation to accept US bombings, but do not have the right to accept China's construction
👍👍👍👍
😂
The China "debt trap" narrative has recently been debunked by the British Debt Justice and World Bank data. They found that African countries owe 3x more to Western banks, asset managers and oil traders than to China, and are charged double the interest. 12% of Africa's external debt was owed to China lenders, compared to 35% to Western private creditors.
China has since cancelled the debt for 17 African nations.
😂 so true
兄弟说得好。
Before falling into the so-called Chinese debt trap, Laos and its people have been struggling in the abyss of extreme poverty for at least 50 years. This railway has brought them a glimmer of hope at least.
The U.S. dropped over 2.5 million tons of bombs on Laos in nine years.
Right now, 80 million American bombs remain unexploded in Laos. It is still killing at least 50 people a year.
The U.S. might consider helping Laos pay for Chinese railroad construction so Laos doesn't owe us Chinese money. In this way, the Laotians are happy, the Chinese are happy, and the Americans are happy to have their sins mitigated. Everyone is happy, so why doesn't the United States do it?
Laos has been the poorest country in the world for the last 50 years without a single railroad. Why haven't the Americans helped the Laotians build a railroad?
because they are authoritarian communists duh
Best wish from China.
这些媒体眼瞎看不到自己曾给当地人带来的痛苦。但历史会记住这群屠夫……
You think American's actually gives a hoot about Asians?
@@richardmackenzie1878 maybe its time for U.S. manufacturing migrate their industrial from China to Southeast Asia region. since chinese workers aren't cheap anymore. we ASEAN love to have work on manufacturing process.
Sri Lanka foreign debt:
China 8%
India 10%
Japan 13%
IMF 15%
Wall Street 54%
Conclusion: China created a debt trap to Sri Lanka!
What is your source of data?
@@asha8443 google it. A PhD of Sri Lanka wrote a paper on it.
The China "debt trap" narrative has recently been debunked by the British Debt Justice and World Bank data. They found that African countries owe 3x more to Western banks, asset managers and oil traders than to China, and are charged double the interest. 12% of Africa's external debt was owed to China lenders, compared to 35% to Western private creditors.
China has since cancelled the debt for 17 African nations.
well that is the fact, non-chinese debt was long time and still manageable, the surge of srilanka debt was coming from CHINA.
And it was china who took hambantota port of srilanka
if not China, then why is China who take hambantota port from srilanka??
The only thing I know is that America bombed Laos while China is building the infrastructure Laos needs to become a land-linked nation
The China "debt trap" narrative has recently been debunked by the British Debt Justice and World Bank data. They found that African countries owe 3x more to Western banks, asset managers and oil traders than to China, and are charged double the interest. 12% of Africa's external debt was owed to China lenders, compared to 35% to Western private creditors.
China has since cancelled the debt for 17 African nations
To bomb some country definitely is not any kind debt trap, it is just gentle kiss of democracy.
To be extremely fair, building rail infrastructure has not always been linked to peacefull behaviors. Japan built the manchurian raim network when it colonised China. Wasn't their most peacefull project if I remember well
@@marcbuisson2463whereas the very bombing of Japan by the US actually resulted in the end of fascism and actually freed the Chinese
@@marcbuisson2463 Laos is still a sovereign state and the railway will be run by Laotians. It's the colonisers who make this strange connection.
After carpet bombing Laos, a non combatant nation in the Vietnam war, America had conveniently forgotten Laos until China started to re-build Laos, that was when Laos because a concern for America. For any country that wants American attention and care, get close to China. Otherwise, you’re irrelevant.
HAHAHHAHA.
Go ahead and tell yourself that fantasy. Enjoy your masters….
@@cowpotpi3 Hahahaha US infrastructure is worse than 3rd world countries, they got the most homeless and biggest prison population in the world. Also the racism, hates biggest debt and skyrocketing of inflation and that the sign of showing US is crumbling.
what are you saying though?@osamabinladenssecondgirlfr4241
😂👍👏
💯
China comes to Laos bringing money and talking about investment. USA comes to Laos bringing troops and talking about China
Whataboutism.
@@AB-zl4nhas a Lao I think it’s important to say this. The Wall Street Journal, BBC, WashingtonPost, ETC would turn a blind eye if America bombed my country again
@@KHMCHNH Like what they did to the murder of the Sikh leader in Canada perpetrated by the Indian government.
???@@Andy-P
@@KHMCHNH Sorry, replied to the wrong person
Laos borrowed about $1.5 billion to have its first highspeed railway, while US paid a record $213 billion in interest payments on the national debt in the last quarter of 2022 but still has 0 highspeed railway
just one quater. Wow, President Jefferson would jump out his tomb
Bro it's total intrest payed by public people,companies and government, us government debt is just 6.8 trillion dollars and most of that are owed through bonds bought by usa companies itself
@@alantoamos1924
US Federal debt is tallied at USD 30 trillion . And then , Social Security disbursements and Medicare entitlements for the next 30 years is set to surpass USD 110 trillion, at present value.
Social security abd Medicare are fully funded, however …
1.All of those 110 trillion are in US debt , bonds , notes . Or simply put , on IOUs.
2. The above referenced figures are not accounted for , as they should, using GAAP accounting standards. Money is being swept under the rug by the Federal Government.
3.Your tax dollars are earmarked to cover debt service payments only.
4. Over nine million Americans live abroad. Permanently. Even if you discount military personnel, embassies , corporate personnel , there is a lot living abroad. The overwhelming majority are , retireees…..escaping US high cost of living.
5. I am not your bro. Learn to write properly.
@@serafinacosta7118 bro 33 trillion federal debt is not of us government us federal debt is the sum total of debt of us citizens ,us government ,non profit organizations. added up just google you can see, in that only 6.8 trillion is of government that too most owed to us companies through bonds
"California HSR was estimated would be complete by 2020 and cost $33 billion. But 15 years later, there is not a single mile of track laid, and there isn’t enough money to finish the project. The latest estimates show it will cost $88 billion to $128 billion to complete the entire system from LA to San Francisco." - by CNBC News
Not sure we can call this a “debt trap”. But for sure, it’s by far and far better than the bomb traps forcefully offered by some countries.
It is funny when the west or some indians call China's businesses in other countries a "debt trap". They point their finger at Sri Lanka even though China only makes up 20% of Sri Lanka's external debt.
Bombs or Debt both crush future prosperity
The USA dropped millions of bombs on Laos the last century. They must dig the unexploded bombs out firstly to built the railway.
@abdiganiaden but the west never tell you how much does Laos gain from China.
@@abdiganiadengood debt won't crush the future but a good bomb does
If Chinese loans are debt traps, IMF loans are economic colonization. Take that low interest rate, but privatize most if not all your profitable businesses for the West to buy at a ridiculously low price.
Whataboutism is fun. Thanks for admitting China debt trap exists.
@osamabinladenssecondgirlfr4241 whatever others think don't matter much to me personally. My country was close to the USA for decades and nothing beneficial has ever come of it. Comes the time IMF entered and we practically sold the entire country out under its guidance. Left us nothing but debt with no means to repay for 15 years. Only when we have a leader who's not a US lapdog can we begin to be truly free from the systematic economic oppression of the western world. so if you are trying to make me change my opinion of the West, maybe your governments can start acting more like China instead of acting all righteous and act differently.
@osamabinladenssecondgirlfr4241 I can sense that you're an educated individual. so, how about you try to find one instance where the USA has influenced a country's economy/ politics with virtuous consequences? The western world aside. I truly believe that it's all but a facade to profit of others. Nobody is going to do charity work, that much I concur. What the west has done, however merely package the same old colonization system in the so called capitalism. The west knows very well that as long as you deal with poor countries, the west who has centuries of head start will always prevail. China is seen as a lighthouse in this tumultuous era of western dominance. So far, China hasn't disappoint. Sometimes, we miscalculate and worsen the situation, but that's a risk that people can see and opt for it. The West never gave us the option. Do as we tell you or face military interventions, sanctions, or both. The only reason my country is still independent today is because of China being a bigger threat. That doesn't mean the US isn't trying to brew unrest using local extremist/separatist groups just like it did in Afghanistan, Hongkong, Syria, and many others. It's just that it disgusting to me seeing how the west has destroyed so much and looted so much, in the name of democracy and rules. who's rules? the west. What democracy? one elected by the people or one supporting western interests? We both know the answer. Meanwhile, the west is demonizing China for doing something that can actually be beneficial to the country involved. That's hypocrisy at its best.
The China "debt trap" narrative has recently been debunked by the British Debt Justice and World Bank data. They found that African countries owe 3x more to Western banks, asset managers and oil traders than to China, and are charged double the interest. 12% of Africa's external debt was owed to China lenders, compared to 35% to Western private creditors.
China has since cancelled the debt for 17 African nations.
@osamabinladenssecondgirlfr4241 IMF gives loans with conditions of privatization of natural resources, removal of capital control, lower tariffs, basically opens up the country for western exploitation. The low interest rate is the bait to stripe the host country of its economic sovereignty. This is a private/public partnership for the west, IMF/WB kicks down the door with low interest rates, the western private company vultures can come in to take advantage of "liberalization" policies forced upon the host countries. That's the real debt trap, which MSM will never say a word. MSM only pushes the low interest bait, not all the forced policy changes and follow on feast by Western private companies, as if those companies have nothing to do with IMF/WB. But in fact, the IMF/WB is only the front, western gov and multi-nationals are connected in the back, run by the same group.
I bought a house 10 years ago and have been in a debt trap since😂
HAHA....
I have lived in Sri Lanka as well as Laos so I can answer these questions directly. It may be true that Laos has not seen a new vast industrial base due to this railway but for most locals its almost a miracle to get to their remote villages from the cities so fast, as well as facilitating the transport of goods. China and Laos must plan and work hard to get some more dividends like industry and jobs.
As far as Sri Lanka is concerned we keep getting brainwashed by the Chinese debt trap lies. Sri Lanka's was a the third richest country in Asia after the WWII with established institutions, educated population and financial stability. All that was wasted away by incompetent and corrupt political class during the last 75 years. With no industrialization nor significant exports, has become a sick man next to bustling Asia. This is a historic failure which has nothing to do with loans from China. Just one example, Emirates Airlines was managing Sri Lankan Airlines successfully and profitably. In 2008 the Government bought out Emirates as it wanted a "National Airline". Since then it has accumulated losses of $1 billion. Almost all state enterprises are poorly managed and some have large losses.
Within the last 15 years loans were taken from China to build road, ports, airports etc. Some if these projects has been extremely useful while others have been white elephants. Again, even with these, the responsibility lies with the local politicians.
This is the big picture and on top of that we had economic and tourism shutdown due to covid as well as highly irresponsible decisions such as unwarranted tax cuts taken by the Government during and after covid.
So why has WSJ not done it's research ? Why keep lying that Sri Lanka went bankrupt due to "Chinese debt trap" ?
The total international and national public debt of Sri Lanka is about $83 billion, of which only $7.5 billion is owed to China.
well said
source: random channel with 1 subscriber and no video that claims they know everything about it
So how did Sri Lanka get bankrupt? Do you know the interest rate of Chinese loans?
@@DefensiveDriver in ten years your channel has amassed six random videos with double digit views, so I guess your opinion is also invalid.
@@bluesky66666 i guess all the bankruptcy in USA also are because of China? why not go check Sri Lanka own debt management department's report, its public data, screenshot any place that show Sri Lanka loan is 100% from China, try and see
WSJ forgot to mention, Chinese engineers had clear thousands of bombs to make this railway. Bombs dropped by US.
Currently US govt is paying over $2 billion everyday in interest payments. So this railway is mere 3 days of interest payments in US.
It's WSJ, they won't say that.
That’s because the US is rich. It makes allot of money and spends allot of money.
Nice job wumao, Xitler is proud, keep it up.
@@JigilJigil Sure American dog
@@JigilJigil cope mr imperialist
The WSJ has no business talking about Chinese "debt traps". It's ignored the abuses of the World Bank and IMF pretty continuously. *Those* are *real* debt-traps, from which many African and Central/South American Countries are still struggling.
Literally!
Well WSJ is american
Debt trap becomes a term only in recent years to describe China, but all the so-called "economic crisis" in Latin America, Southeast Asia, and Africa in the past, were the truly debt traps set by the West. So many times, so many countries had to submit to World bank, IMF's so-called austerity policies, cutting social benefits, privatize state companies, lower tariffs, etc.. to open markets to western exploitation. These were the real debt traps... When did China ever force any economic policy on a country??
Nice job wumao, Xitler is proud of you, now go get ur 50 cents.
"Meet the new boss, same as the old boss", as they used to say ! Capital needs to be invested, whatever the source, where it will do the most good, not in the sort of vanity-projects (football-stadiums in Africa ?) which look good, but don't help the local-economy after construction ends. I agree that capital-allocation is a long-running challenge !
It is amazing that this chip doesn’t say only 10% of Sri Lanka debt belongs to China
Except said debt was for projects that all failed. 10% debt with zero return.
Good job eating propaganda.
Yup and china agreed to extend the term. Facts. Sri lanka's economic collapse is because the world bank and IMF's refusal for a bail out or term extension of loans. While Fox news owned wsj say's it's because of a china debt trap. 😂US has been debt traping 3rd world countries for a long time using their front the world bank and IMF, it's because before other countries has no other option to lend elsewhere. they may have slightly lower interest rate than Chinese banks, but they make up for it using massive conditions like using dollars as reserve or asking to put a military base etc. That's why some People don't understand why some county pick a slightly higher interest rate rather than the world banks offer 😅.. The US and EU hates third world countries getting trap by china and not by them😂. So they launched their own so called built and road initiative 😂 so much about being concern of them getting into debt. Smh I always say at every small country they should look at all proposal and pick the best option.
It’s what the debt is used for and the interest rate and who maintains and constructs infra. Japanese loans and other international bank loans are cheap. They haven’t confiscated anything.
Japan loan and international loan should void for repayments.... Jesus's call for love❤
@@balckston if Chinese do then even others agree.
China gave us High Speed Railways, while Westerners always gave us lectures
America is teaching you Freedom and Democracy... more important than trains and roads.
"while Westerners always gave us lectures...and You Tube and internet end seller market/s end... your FREE of CCP oppression/s comment/s.
CZcams is an American end very much Western. Good LECTURE 4 u.😁
No, there are bombs.
Yes, Internet has been feeding millions of people in Asia like we all know🙄 China has invented WAY more things than the entire western world combined but we don't hear them brag about nonsense h24, they're too busy building while you people keep talking and talking
❤Precisely well said
The British commentator said it well. US can always offer an alternative if China's offer is so terrible
A daring proposition. I wonder who pays his salary.
US brought bombs and wars to poor countries, while criticize China only because China helped these countries to build their own railway! The best example of Pride and Prejudice.
the problem tho: It can't. US can't even build a bridge these days. Its infrastructure is old and crumbling.
hahahahaaa
California High Speed train is STILL born.
Us help them with 2 millions ton bomb
They no need this help
Better train and food
I'm an expat living in China but currently in Laos (weird but I will post a video as proof tomorrow). Every year I return I notice things significantly improve. Laos is a poor country that produces surprisingly little. Shopping in a supermarket you'll notice that 95% of the products are imported. A reason they make so little is because the land is mountainous and bad for crops but also because the land has been so heavily bombed by the Americans. Because of this many Lao people transport goods over very dangerous poorly maintained roads. I've seen locals show me pictures of corpses of truck drivers they knew who died trying to transport minerals or products over dusty poorly maintained roads. The train is a welcome relief for what used to be a 16 hour journey from the Chinese border to the capital Ventianne and brings much needed Chinese tourist dollars into a country that is very much neglected by foreign tourists. In the city I'm in now there are practically no western tourists but quite a few Chinese here who start businesses, employ locals, learn the local language and marry into the culture. Due to synergy some Lao also take advantage of their Chinese contacts to go do business in China. Lao people today just want to improve their lives and move on. I wish them and their country the best.
Why don’t you just say you’re an immigrant 😂
@@Sosski because there is a difference between Expat and Immigrant?
@@user10u7 yeah ok
@@Sosskiwhat an irrelevant comment. let’s appreciate the amazing things China is doing for Laos.
Good job wumao. Xitler is ptoud of you.
WSJ SHOULD TALK ABOUT IMF AND WORLD BANK DEBT TRAP WHICH IS THE REAL ONE SEE HOW THE POOR AFRICAN COUNTRIES ARE STRUGGLING
The China "debt trap" narrative has recently been debunked by the British Debt Justice and World Bank data. They found that African countries owe 3x more to Western banks, asset managers and oil traders than to China, and are charged double the interest. 12% of Africa's external debt was owed to China lenders, compared to 35% to Western private creditors.
China has since cancelled the debt for 17 African nations
Projection much?
❤well said and well REASONED.
I was backpacking in Laos two months ago and used the speedtrain. When I booked it, I did not know it was one of Chinas Infrastructure projects. But when we arrived at the train station in Luang Prabang it became clear right away. It was massive and reminded me of an airport terminal because I had to go through security and then wait at the gate. On the tracks were hundreds of cargo wagons with the label “China Railroad” (as shown in the video). The train itself was super modern and reminded me a bit of the Shinkanzen in Japan (not as fast though). I was headed to Vang Vieng and instead of 5 hours in a bus, it took the train only an hour to get there. The most amazing thing was that the train spent most of the time in tunnels and did not make one single curve. Just one straight line through all the hills and mountains. The price for the ticket was really fair in my opinion although it is still very expensive for the locals living there.
The American bombing left many unexploded bombs, which later disabled many Lao people. Laos now has the highest disability rate in the world and wants the United States to repent and compensate for this
@@youngwhen5308That won't happen. If US give financial aid to an Asian country, actually they give money to NGOs to rumor around and try to overthrow your government.
One ironic thing is, even today, US is still financially "aiding" China every year. That's why there are so many anti-china channels. You know where their money goes to.
"reminded me a bit of the Shinkanzen in Japan (not as fast though)" because that is semi hsr, u can try hsr in indonesia
@@youngwhen5308 lol, you think americans going to repent or compensate really? If the laos people keep asking, they'd be getting bombed again just for asking.
The pricing power of fares is customized by the Lao government.
Indonesia's HSR cost $7B, 143km long, took 7 years to be completed on time.
California's HSR launched in 2008, cost jumps to $128B and isn't going to finish any time soon. Who got the better deal?
India's HSR which is built by Japan costs $14B, 508km long which is 3.5 times the length of Indonesia's track length and just only double the cost of Indonesia's project. The construction was started in 2020 and expected to complete by 2023 but due to covid pandemic it was delayed and expected to complete by 2026
WSJ definitely should their debt traps in America! So many corruption in the big infrastructure projects
@@RohitKumar-ys1smgood lucky
@@RohitKumar-ys1sm It’s already 2024, has construction started? I want to see how Japan built more than 500 kilometers of railways in two years
@@RohitKumar-ys1sm Stop lying bro. Indonesia HSR was ground broken in 2016 and India HSR was in 2017.
If westerners don't like Chinese loans, then let them offer an alternative
Hey, buddy, we got some ammo, the kind that could wipe out an entire country
you don't get it, right?
you can't borrow to invest in something that won't get that much returns, otherwise.. you could not pay the Debt, and you lost the thing you buy and the interest you paid.
this is how it is like now.
它们只会提供炸弹和cia……乌克兰，叙利亚，利比亚，伊拉克，阿富汗，尤其正在发生的乌克兰🇺🇦就是模版😮
@@lancelotf.x3619 What's the ROI on the trillions America borrowed from China to buy toys?
I'm sure they will as soon as their secure their next loan from China.
It not only connects China to Laos it helps the people of Laos to connect with the world. It has more benefits that perceived dangers.
it's because this channel is owned by fox news part of the western global chinese debt trap machine propaganda. they think Central bank and economic experts in this countries are D... they criticize with no alternative, they want this country to stay as they are while they are at the top.
not if it bankrupts Laos
@@jebbo-c1lLaos is so poor of a country that is was already bankrupt. They had nothing that was worth anything to lose. The railway will lead to development and more foreign investment.
The China "debt trap" narrative has recently been debunked by the British Debt Justice and World Bank data. They found that African countries owe 3x more to Western banks, asset managers and oil traders than to China, and are charged double the interest. 12% of Africa's external debt was owed to China lenders, compared to 35% to Western private creditors.
China has since cancelled the debt for 17 African nations.
Even if Laos had to sell this railroad to China, it would still be a win for Laos, as their infrastructure poor country are now connected to the Chinese market.
What are some countries really good at: first, leaving countless 💣 in Southeastern Asia, second, blaming China for helping developing southeastern countries 😅
China only helps itself, much of its projects ensure the success of Chinese companies, who rely on overseas construction work to keep afloat.
Lao is a poor country with no borders to the sea. That is a huge disadvantage for trade. But with this rail, they are able to access the sea ports from China. The belt and road initiative are looking to help poor countries like Lao where they are invisible to the West. China will gain from that as well. That's why it's a win-win cooperations. Sure, there are risks, no guarantee for success. But nothing in this life is guaranteed. This is about giving these poor people a chance of a lifetime when no other counties would give them. That's why all the poor countries, or we call them the global south, are looking up to China rather than the US.
I still remember visiting mines and bombs museums in Laos. It’s sad
they will open one in ukraine soon I hear
US profits from dropping bombs
And over 7 million people has been killed by Wuhan Virus globally so far.
Lol Ray i remember you 2 years ago always showing up in the comments
hey ray, where have you been?
edit: also the laos bomb museum is really sad and terrifying.
If IMF/World Bank gives loan.. is it called debt trap?
Covered by US citizen debt
So sri lanka is just fake news?
debt if only its chinese loans but not for IMF/world bank
Double standards
Western anti china propaganda machine
No because unlike Chinese loans, interests are low and there is no collateral like "this port belongs to China for 99 years" kind of deal.
@@TitusAzzurrolow interest rate? My foot! Check the interest rate and compare it with imf, wb etc. Chinese are giving lower interest rate than IMF and WB without conditions.
IMF is the real debt trap diplomacy. Just take a look at those who borrowed from the IMF during the 1997 Asian financial crash, Indonesia, Thailand, Philippines and other Asian countries are still feeling the effects today
And South Korea, which struggled for 20 years after 1998.
When talking about debt trap, you guys should mention the high speed railway project HS2 in UK. That is really a gem.
Its buget has bloasted into more than $100 billion and made no progress after years
Yeah. It always surprises me how cheap chinese rail infrastructure projects are (and how ridiculously expensive HS2 is). But you do need to be a bit more careful when comparing debts. A 90 percent debt to GDP ratio might sound low (many developed economies have it) but debt to your own citizens via bonds is a lot better then being indebted to another country. Also, when european countries build railways in europe a lot of the investment money flows back into the country via taxes. This is not true if you hire the Chinese to build something.
The UK govt just cancelled HS2 Phase two because" offers very poor value of money"
When it's Africa or Asia it is called a Chinese debt trap, but if the infrastructure is in Europe (Crotia new Chinese bridge, "Pelješac Bridge"), it is called an asset.
Or if the creditor is American or European
双标已经是欧美媒体的鲜明标签……关于中国的话题它们会写的非常可怕，就像自己夜晚不敢一个人出去大街上找老爸老妈。所以欧美媒体还是在幼儿阶段，离不开政府这个奶爸奶妈，相信他们定期会收到政府组织的奶粉钱和玩具钱。
Nice job wumao, Xitler is proud of you, now go get ur 50 cents.
Racism and biased.
Croatia's national debt is within Maastricht rules and anybody who googled 'economics' at least once in their life would know that comparing Croatia's and Laos' economies is pointless. Croatia is upper-middle income country with GDP of about 70 billion US$ (17k per capita), while Laos' GDP is about 16 billion US$ (2.6k per capita).
Croatia was building that bridge because the part of it is not connected by land, the bridge is complementary to the already existing infrastructure and the regions that it connects are already developed. Chinese company got the contract by offering the best terms and that has nothing to do with financing, which is available to Croatian government domestically and internationally, depending on the public debt policy at the time of investment.
I'm sure that HSR through Laos will bring massive benefits to its economy and economy of the entire region, but it is also true that at the current level of economic development it may be difficult for Laos to reap the full benefits from this major project, hence there is a significant risk that it may fall into a debt trap. There is also no doubt that China seeks to forward their interests in the neighborhood and secure uninterrupted trade across the region and through Laos, which is a legitimate goal. There is a documented history of China providing credit for clearly not feasible infrastructure projects, that bring questionable benefits to local economies, to countries that can't afford to pay for them in a foreseeable future... and this is where the term 'Chinese debt trap' comes from. Of course there are other debt traps, but they are not the subject of this particular WSJ reporting. Helpful?
8:24 If Laos has such a potential, why didn’t western countries come and invest until Chinese came and invested?
The USA is do hypocritical. It doesn’t want to invest and maintain a good relationship with Global South until China made a deal with these countries.
Because Laos doesn't have the potential comparable to it's neighbors. Being landlocked puts it in a bad position from the get-go. China can take advantage of Laos since they
share a land border with them.
And that Kunming is north of them, a city already connected to Shanghai with HSR, world longest HSR train track.
It doesn't have potential. Just 7 million people across the whole country.
@@tdkxso that means west will only help you when you have potentials then
@@Dayvit78 Compared to Vietnam, Thailand and Cambodia, it doesnt, but as it's surrounding neighbors gain wealth it will become more strategic to control Laos. China can't let Laos out of its sphere of influence as it shares border with her. The US lost a good chance to build Laos up and potentially turn it into a host for US military bases on China's doorstep for pennies on the dollar.
The reason there's hardly any EU or US involvement is that there is no oil or valuable assets to seize.
no reason to spread Freedom and Democracy there
The pundits used the same argument when America invaded Afghanistan. No oil. But under that pile of rocks lies untold riches in mining . Only they forgot to post it on memo.
Nobody ever saw the US survey services to appraise those piles of rock as they lent support to the Mujahedin fighters to expel those pesky Russians.
This railroad "debt trap" is $1.5bn out of Laos' $17bn total debt as the chart shows. Why not talk about the rest $15.5bn and what made them not a trap?
The China "debt trap" narrative has recently been debunked by the British Debt Justice and World Bank data. They found that African countries owe 3x more to Western banks, asset managers and oil traders than to China, and are charged double the interest. 12% of Africa's external debt was owed to China lenders, compared to 35% to Western private creditors.
China has since cancelled the debt for 17 African nations
西方媒体抹黑中国从来不会感到羞愧
The CIA referred to their covert war in Laos as “the largest paramilitary operations ever undertaken by the CIA”…The bombing campaign (1964-1973) dropped 2 million tons of ordnance on Laos, the most bombed country in the world.
Racism if Laos is European country they would never do such thing.
The China "debt trap" narrative has recently been debunked by the British Debt Justice and World Bank data. They found that African countries owe 3x more to Western banks, asset managers and oil traders than to China, and are charged double the interest. 12% of Africa's external debt was owed to China lenders, compared to 35% to Western private creditors.
China has since cancelled the debt for 17 African nations.
And there's about 100 mil units of it still unexploded creating a massive minefield across the country.
Thanks for bringing into perspective.
WSJ is just a propaganda machine.
China is helping developing countries to develop, while rich countries like the US complain and create obstacles.
The US struggles with high-speed rail and investment but spends billions on military operations all over the world.
It should be.. "China is helping itself exploiting developing countries.. while rich countries like the US complained about what China is doing".. Wumao.. 😂😂🤣🤣
Nice job wumao, your 50 cents is in your account after this thoughtful comment.
@@bigmantrue1 and China is building high-speed rails that goes to nowhere.. and spending billions of it's people's money in a futile attempt to take over the world..
excellent job on labeling others, when you are running out of words to retort them.
The “debt-trap” theory is concocted by Brahma Chellaney, an Indian geopolitical strategist. The “debt-trap” theory is concocted by Indians, and popularized by Americans. They concoct this theory to demonize China, Chinese and BRI projects/loans. India, US, along with EU, fear losing their dominance and control over other countries which may result from these projects. Such fears are based on their selfish and geopolitical interests.
However, people from all over the world, especially from developing countries have acknowledged the needs and the actual benefits of these projects/loans. They know from their first-hand experience that there is no debt-trap. Academics and researchers have reviewed these projects, and have debunked the debt-trap theory.
Spot on
It's true.. Sri Lanka, Montenegro, Pakistan, Africa... no one gives you anything for free. If you want to give away sovereignty in exchange for infrastructure, go ahead.
@@pablosel3857 A nation ‘s development doesn’t just happened with only day dreams & well wishes without actual spending or borrowing to initiate any form of physical transformation in their country’s economic conditions. The LDC are investing into their future by making the changes now with financial commitments for a better returns on the economy for the current & future citizenry. There would be no financial burden to the country if the investments on the country’s assets & resources were being properly managed by the recipient countries.
@@pablosel3857 i love how you just completely missed the point. Typical american.
@@chroma._.5986 Point would be that it's worth resigning part of your sovereignty in exchange for an infrastructure project?
Comparing with the money which spent in the Ukraine, it seems a tiny number and can really change people's life
another good point
Absolutely accurate!
Ccp propaganda department agent # 976423, you might get a raise using that cat picture as your pfp straight genius.
@@sg5184 I really hope that somebody can give me money.
Its not money its equipment that is already replaced.
As a Chinese, may I offer you a "big secret" (if not the biggest) of the so called Chinese economic miracle: some 30 years ago we borrowed "massive debt" from Japan, Korean and anywhere we could get, and invested the biggest portion of it to build roads and
railway lines to improve the communication efficiency of the whole society. Although such infrastructure investment sank money like black holes, its effects turned to be like magic. Now it pays off enormously.
and....
@@Dayvit78Sorry, network broken.
see things with an open mind. Not all that Chinese do are bad, and certainly not everything Americans do can even be considered beneficial to other countries.
Dude, if you are Chinese you just committed a crime CZcams is illegal there.
Report to your nearest CCP officer for reeducation
@@AL-lh2ht hum dude nice try
Better to remove all of your bombs in former French Indochina region first before interfering in their foreign policies.
Criticism is not interference. I know that's hard to grasp for an authoritarian mindset.
@@Brendissimo1 then better remove the bombs of freedom first and then do criticism..
@@Brendissimo1如果不理解那就去回家给老婆洗内裤或帮忙打扫房间。你没有那个知识能力不去学习，难道要被这样带走政治色彩的媒体左右吗？不理解就自己找资料，自己去发现，别人给你的东西不会是你合胃口的，或许它们会在知识中加入歧视，偏激的词语……
@@Brendissimo1clown
@@Brendissimo1 You're replying to a guy who opposes interfering in other's foreign policies, and you liken that to an authoritarian mindset. It's truly a clown world. Criticism is valid, but irony is rich.
Its 2023 and people still don't seem to understand that development and progress MUST come at a cost, NOTHING IS FREE.
The funniest thing is the Japanese media and Japanese people.
Japan owes China a lot in history. But they really can't find any other reason to excuse their behavior of beautifying the history of militarism.
So the rhetoric they use to attack the Chinese people all year round is that the Chinese people are ungrateful.
How to be ungrateful? Because Japan provided loans to China to build infrastructure in the 1980s and 1990s. This matter is never mentioned in Chinese textbooks.
However, what is extremely ridiculous is that the Japanese media never mentioned that China gave up war reparations to Japan. (Japanese diplomats at that time once celebrated this event all night long) If China asked Japan for war reparations, even ten Japanwould not be enough to compensate.
Also, the Japanese media has been attacking China’s loans to other developing countries as a debt trap all year round. So, is Japan’s loan to China a debt trap?
Why does China want to thank Japan for its debt trap?
THE LAOTIANS WHO APPROVED THIS PROJECT UNDERSTAND.
@@williamgarcia1909 No you don't lol. Most of you guys don't even have internet
One of the ten rules of economics is that there is no free lunch. Someone always pays. My country doesn't want Chinese investment, let's say if they say it's free. They are not welcome here. I'm from Europe.
I would welcome any infrastructure if I were from Laos. And wsj should interview someone born and raised in Laos. They are the "experts"
1. It is irony of monstrous scale for Americans to criticize others about incurring huge debts
2. See that $6B price tag? See that? The California High Speed Rail project so far costed $20B, started in 2015 and expected to finish in 2030 (with records of delays after delays and budget overuns) for section ONLY between Merced and Bakersfield, two inland sparsely populated cities.
Any country's official, with IQ as low as 70, would ignore infrastructure building advices from the US.
$6b = 32% of Laos's GDP ($19b)
$20b = 0.56% of California's GDP ($3.6t)
There's a pretty glaring issue with spending 1/3 of a nation's GDP on a single railway. The problem isn't the sheer amount of debt, but the debt to GDP ratio. The US equivalent of this project would be taking out an $8 trillion loan for a railway.
California is exceeding 100B USD with no finish line soon.
Remember the US has the largest debt on records
CAHSR is twice the length of Laos itself. That is not a valid criticism at all.
Awful criticism. While CHSR is a joke, boondoggle, laughing stock, corruption heavy, awful, hideous project, it’s asinine to compare it to what Laos is doing. It’s like saying buying a million dollar house is universally dumb. For a poor person, yes, for a billionaire, not a drop in the bucket. Different people, different circumstances.
*Nikkei Asia,* already explained that the mega railway project that cost 6 billion dollars was mainly funded by China, with Laos only paying 1.8 billion. By estimation, both the passenger and cargo trains can make six round trips per day. High tourism and cargo traffic plus redevelopment of the surrounding areas in service and productivity will boost Laos' economy by 5% to 616 million per year. At the fastest, Laos can recoup their investment in three years' time. *So, what debt trap is the Wall Street Journal talking about?*
Nice job wumao, Xitler will be so proud of you.
@JigilJigil *Likewise, Xitler must be very proud of the comfort service your mom provides for the PLA soldiers.* 🤣🤣🤣
It's CIA funded propoganda
@@JigilJigil Sure American Dog
shabi @@JigilJigil
A great project by China to improve Laos connectivity to China for trade and cultural exchange.
Obviously this project is beneficial to Laos instead of bombings. God bless Loas n China.
CHINA WANTS THE RAILROAD TO CONNECT ALL THE WAY TO SINGAPORE. THIS OPENS UP VAST OPPORTUNITY FOR LAOS TO EXPORT ITS PRODUCTS TO ALL OF THE SOUTHEST COUNTRIES, NOT ONLY TO CHINA.
for a country that is landlock with no ports i don't know why its not a good idea to build railway connecting china i don't know why it is being called a debt trap
good point. That woman didn't not see this important and obvious fact, she only good comment as travel faster!
If it is a debt trap, US should provide aide to Laos so they could pay off the loan. It's only $6B.
Why should US do that? they were dumb enough to get involved in a project with the world most vicious entity (China) and it's debt trap and you expect US to pay their debt?!
The California High Speed Rail originally was going to cost $35 billion but has now ballooned to an estimated $130 billion. $6 billion is cheap considering the number of bridges, tunnels and removing unexploded cluster bombs.
The China "debt trap" narrative has recently been debunked by the British Debt Justice and World Bank data. They found that African countries owe 3x more to Western banks, asset managers and oil traders than to China, and are charged double the interest. 12% of Africa's external debt was owed to China lenders, compared to 35% to Western private creditors.
China has since cancelled the debt for 17 African nations
$40B for Ukraine but nothing for Lao 😢
Oh no, no cash. The US prefer to "donate" $6 bil worth of arms.
Why is there no debt crisis when Japan builds railways in India, Thailand, and Vietnam? Could it be that Japan offers them completely free loans? In the eyes of Western countries, if Japan had built a railway in Indonesia, there would be no debt trap
Japan is US puppy and western won't say anything 🤣🐕
Even if Japan builds a railway for Laos for $1, do you think it's free? Japan earns money through subsequent fees. For example, if the electric control of the screen door between the carriages is broken, even if you know how to repair it, according to the contract, you will have to wait for Japan to send someone to repair it. The travel expenses of those who come, such as the cost of an airplane hotel, will be borne by you. And I haven't remembered the time and money lost waiting for the maintenance personnel. The money spent during the overall 50 years of operation is much more expensive than the construction.
Because all 3 railways are way behind schedule, Japan might just end up canceling all the debt 😂
WHY? BECAUSE JAPAN IS A US VASSAL.
Japan kneels to the usa....china doesnt....
I could be wrong, but I thought most of the debts borrowed by third world countries came from the private sector (i.e., private banks from Europe and the U.S.). The interest rates from these banks were much higher than what the Chinese government was charging. Heck, even the World Bank and IMF were charging higher interest rates than the Chinese. So, why didn't the Wall Street Journal (for that matter, all the Western media) call those debts "debt traps?"
Because WSJ is not a real media. It is a part of the war machine run by the deep state.
Spot on! Funny when China lends money to other countries, they become debt traps. Other countries lend more and charge higher interest, no one says anything. Unprecedented defamation of China at its highest denomination indeed!
Because it is blatant anti-China propaganda😂
You're absolutely right.
EN rate is 4%, when China is 2-2.5%
Meanwhile Japan charged Vietnam 72 billions to build a 1.5 times longer highspeed railway . almost 2 decades later and it's nowhere close to done . 72 billions !
Laos got a deal
Of course some guy named Ben Bland has to chime in from the debt trap angle. None of these idiots ever mentioned that the biggest function of this railroad, besides providing Laotians a means to travel within the country, is to connect China directly to the border of Thailand, where it's further connected to Malasia, Singapore, and so on. Laos has its main artery for commercial through traffic. Yet these reporters talk about carbon dioxide emissions in Laos while it's still remains one of the poorest nations in the region.
This is basically the perfect argument for the video.
Only 7 million people - how can they pay for a multi-billion dollar railroad. You want them to pay $1,000 each just to travel to Thailand a little faster?
they are completely disillusioned brother.
@@Dayvit78 By developing the local economy. By taking part more in the intra-ASEAN trades. By allowing more investment into the country because now it's easy to travel into the heartland of Laos. Do you have any idea of the value of the trade between China and ASEAN countries?
Americans try their best to make Asians look bad in any way possible
Better investment than Afghan and Iraq trillion dollar “project” 😂
9/11 cost the world about $2 trillion in one day. US GDP in 2011 was $15.6 Trillion and now it is almost $27 Trillion. So that was a pretty good investment.
Wumao.
The US had given Lao millions of tons of bombs!
China has given a railway and economic opportunity.
In 2020, before Laos's high-speed rail opened, Laos had a trade surplus of US $570 million.
After the opening of the high-speed railway in 2022, Laos had a trade surplus of US $1.39 billion. This is just the money made from trade. After the opening of the railway, it can also promote the development of tourism in Laos.
Remember, the construction cost borne by Laos is only $1.8 billion. Without this railway, Laos would not be able to make more money and its economy would not be able to develop.
The disgusting American media
I remember being in Laos in 2019, been on a bus for 6 hours winding up and down these skinny dirt mountain roads. There was very little infrastructure, the few paved roads where small and covered in potholes then all of a sudden we turned a corner and and I saw a massive valley carved into the mountains, with a extremely robust rail line under construction. The scale was very big, but compared to everything else in Laos it seemed gigantic. It was very confusing seeing such a contrast in infrastructure quality, cool to find out that's what I was looking at.
Love your positive perspectiva on this
China terraforms the earth 😂
I am hoping that ROBUST rail line won't end up like the dam that was made by the Chinese in Ecuador, *(China's Ecuador's dam): *
"Since the 2016 opening, officials from the state electricity utility have found more than *17,000 cracks in the power plant’s eight turbines,* according to the state utility. It blames the fissures on faulty steel imported from China."
@@JigilJigil interested send me a link please. I can't find anything. Wikipedia doesn't say that
@@walkingwithsandels5728 Yeah, I was interested in that as well. Was able to find this on Wikipedia en.wikipedia.org/wiki/Coca_Codo_Sinclair_Dam
The artical states " 7,648 large and small cracks were identified".
MACVSOG and the CIA did a ton of dirty work in Laos.
If Americans want to know why the current world geopolitics are so messed up. Look up what your country did to other nations during the cold war period.
Nice job wumao, Xitler will be so proud of you.
This railroad is game changer for Laos to break out the landlock situation, Luckyly they are bordered with China who can supply product with affordable price.
Untill they get hit with crippling debt and that railroad breaks apart like most of the infrastructure in china
This new train system is welcomed by Laos and every train is packed with people; now they can travel or commute safely and much faster, and the trains are also helping Laos to export a lot of their products...eventfully the people of Laos can improve their living standard and be happy! How nice!!
BRAVO TO CHINA-LAOS COOPERATION! IT IS A WIN-WIN ENDEAVOR, AS THE CHINESE LIKE TO SAY.
I am not sure if this railway will ultimately be a success or lead to a debt trap. However, I can be certain that the US's Asia Railway proposal in India is more expensive, will take longer to build, and does not have the technical and experience of large-scale infrastructure railway construction. So~
80% is already completed, all the ports are bought 😂😂 only saudi has to make railway line😂😂
This is a wild statement considering the US has the largest rail network in the world by a large margin. Some would say that requires some expertise. In my experience cheaper is not better.
@@dabears87_76The US railroad were built in late 1800s...
@@dabears87_76What we are talking about is high speed railway. The scale of HSR in China(speed limitations is 350KM per hour) is 700 times larger that of in US(speed limitations is 180 KM per hour).
@@jasonhow8604China apparently has a lot of useless railway that is hardly ever used. But hey it looks good on paper.
I think the definition of Massive debt trap is a country who work on a railway project lazily and it hasn't been completed until now. for example in india and vietnam project 😜😝
The China "debt trap" narrative has recently been debunked by the British Debt Justice and World Bank data. They found that African countries owe 3x more to Western banks, asset managers and oil traders than to China, and are charged double the interest. 12% of Africa's external debt was owed to China lenders, compared to 35% to Western private creditors.
China has since cancelled the debt for 17 African nations.
I have a question. China is building railways, power stations, and all kinds of infrastructure that cannot be moved in its Asian neighbors. So what has the United States done for its American neighbors?
You might as well say that all debt is a trap, including home mortgages and credit cards. And we are the worse with over $33 trillion dollars in debt.
I love "How US media always focuses on china", China: please left us out 🙏🙏
Who are you quoting? This story is about a Chinese-financed railroad in Laos. It is impossible to tell it without discussing China. Too bad you can't censor international media, like you do at home.
@@Brendissimo1不好意思，请问你是铁路建设参与者吗？如果你只有嘴巴，那就闭起来。你嘴巴太廉价，没有资格说出来一些没有意义的话。
这些媒体应该去唱诗班或寺庙，那里有读不完的诗歌，念不完的经。如果世界让这些说大话的媒体去描绘，就像草原上的驴，即使叫的再凶都跑不出草原，也跑不出屠夫们的刀
@@user-zp6dz9jw3ghow did you bypass the Great Firewall of China? If you did, you can google about China’s debt trap around the world especially in Africa. Beyond the Great Firewall of China except for North Korea, people have the right to express themselves. What give you the right to tell other people to be quiet?
@@OverCookedRicedebt trap is just a narrative created by Westworld. Nobody cares fake blame
It will be good to have a breakdown on the debts that Laos has and see who are the debtors by ranking. Tying debts directly to one project by China is hardly a convincing argument.
The China "debt trap" narrative has recently been debunked by the British Debt Justice and World Bank data. They found that African countries owe 3x more to Western banks, asset managers and oil traders than to China, and are charged double the interest. 12% of Africa's external debt was owed to China lenders, compared to 35% to Western private creditors.
China has since cancelled the debt for 17 African nations.
这是一个为期30年的“高速公路”收费合资项目，到期后老挝收回董事局控制权。
China owns 53% of Laos debt
As always - critical tone of voice of WSJ. No event attempt to say that this is a great achievement
From when did the US or the west ever care about the wellbeings of the Laos?
Loas still has better debt ratio than the US
Most bombed country in the world.., by none other than good old USA!
The rise of Asia is so unstoppable.
Long live BRI!!!
Westerners will never understand why Laos and China border never change an inch until european come to this part of the world. Colonization and exploitation continue in Indochina until 1970s with the defeat of US and its same aspiration allies. Since the rise of China economically and militarily, western powers have hard time if they want to repeat their feats in this new century.
"Debt trap" but when western country do the same thing its called "investment"
Lol, even Laos have better modern railway system than mighty USA😂, no wonder WSJ is furious about it.
Even if it is a debt trap, the train route still benefits millions of people along the way.
This is the way. Who cares about paying bills as long as millions benefits from it until they dont. What happens when the repairs are needed overtime and the Gov. can not pay because any extra money goes towards the high interest on the loan. Now you have no rail and no benefits. This is the way
@@dabears87_76western countries donated billions into Africa continent for decades, and Africa is till poor without any major infrastructure built.
So you tell me, is spending billions to help build a infrastructure better, or donate billions and leave the developing world helpless better?
@@hyuxion blame africans for being tribal mindset dont know how to run their country.. many countries got money from U.S. and they use it wisely.. unlike chinese loans to build infastracture.. its required 100% chinese workers, materials which money loan will goes back to chinese.. and if they cant pay their loan chinese will take land from you..🤣🤣🤣
Infrastructure also opens up different opportunities for companies, it makes it easier for trade.
So, Chinese infrastructure projects make these countries attractive for investment in the long run...
There is nothing better for Western nations, than to see this BRI project fail. I was in Vientiane in 2017. Western businesses controlled the tourism market 99%, with so-called "Eco Tourism" starting at $50USD a day. of which $1-$5 would go to the local operators. Helping locals to climb out of poverty and into exploited slavery. Laos could only do better for itself by distancing itself from all Western countries. If you haven't been, then you don't really know.....
The biggest feat of this project was removing the cluster bombs left behind by our friendly world democracy tour. And let's not forget that a lot of those debt came from the democracy tour and the subsequent rebuilding after the tour.
CHINA REMOVED THE BOMBS ALONG THE ROUTE OFTHE RAILROAD. OUTSIDE THE ROUTE THERE R STILL MILLIONS OF LIVE BOMBS KILLING LAOTIANS YEARLY.
Bridge in Laos: Debt trap
Bombing Laos: Democracy and freedom
Everybody hates Kissinger. But we also hate bankers and high interest loans that you can't afford to pay back.
@@Dayvit78You must be talking about the International Monetary Fund. Infamous american bank.
Great comment wumao, you certainly deserve more than 50 cents for this precious comment.
The China "debt trap" narrative has recently been debunked by the British Debt Justice and World Bank data. They found that African countries owe 3x more to Western banks, asset managers, and oil traders than to China, and are charged double the interest. 12% of Africa's external debt was owed to China lenders, compared to 35% to Western private creditors.
China has since cancelled the debt for 17 African nations.
@@JigilJigilCIAshill bot on the loose ⚠️🚨
The WSJ should also ask the question whether the generous G7 countries will even consider to provide an interest free loan to Laos to develop the much needed same railway to free Laos from.the evil debt trap?
The West accounts for the vast majority of Sri Lanka's debt, and this can actually be found (Central Bank of Sri Lanka report). The direct cause of Sri Lanka's debt crisis is the United States' cyclical indiscriminate issuance of U.S. dollars (harvesting the assets of other countries, this story has happened too many times). During this epidemic, the United States issued a large amount of currency and then raised interest rates, allowing U.S. dollar capital to flow back to the United States to earn interest. As a result, the currencies of various countries plummeted, and U.S. capital could purchase the assets of other countries at low prices. As for international loans, due to rising interest rates, the interest that needs to be repaid has doubled; at the same time, the domestic currency has fallen and is settled in US dollars (the currency that the country needs to pay has also increased significantly), so the debt has expanded rapidly.
To sum up, Sri Lanka’s debt crisis is 100% caused by the United States (almost all countries with debt crises are similar to Sri Lanka). But the United States controls the weapon of public opinion and can turn any incident into black and white. The United States/Western smear campaign against China’s Belt and Road Initiative certainly hopes to reduce China’s influence. The rise of China and its leadership in the development of the Third World will undermine the dominance of the United States/West.
"Debt trap" Lol I guess my house and my car are also considered debt traps.
The US propaganda machine is working on overdrive but it's not working. People can see the benefits of the train.
after some research on the total Sri lankan debt (not surprised, mostly consist of IMF loans lol) i'm starting to see the bias so obvious that lead to negative perceptions on a country that inherently wanna help developing countries to grow.
The American had dropped 270 million cluster bombs over Laos during the Vietnam war and there were 80 million unexploded bombs to be cleared meanwhile farmers and children suffered from lost of limbs or death everyday.....the irony is Laos and the US had not engaged at war !
With this new high speed trains many tourists are starting to discover Laos. I think this trains will bring in a lot of money for Laos. They are finally not alone.
America: Spends $8 trillion in 20 years on fruitless wars in the middle-east.
News-media: Silence 🤐
China: Spends a measly $1 trillion in 10 years on infrastructure projects around the world.
News media: Deeeeebbbbbbbbtttttt-Trrrrraaaaaaaappppppp don't take it. Take our bombs instead 😅
Can't make this ish up 😂😂😂
U obs dont watch western media if u think its not brought up
@@nenasiek yeah, lie to yourself that this is brought up as much as the "Chinese Debt-Trap" talking points.
@@nenasiekthis is clearly true. Western media is the biggest propaganda on the world. Only fools from the west believe it
Nice job wumao, Xitler is proud.
@@JigilJigil yeah, he is, now cry about it 😂
Easy answer. For those unable and jealous inspite their inability it is a "debt trap" and will sell it as a debt trap. For the landlocked country that is benefiting tremendously from the ease the railway brings speed for it exports to the outside world it is a life-saver and a first step towards successful economic development. This WSJ article and its implications will tell you which side it falls into.
Rather than questioning on China's projects let the US build a high speed railway in a Southeast country where needed. Can they?
All the US ever did for Laotian transport networks is carpet bombing them. I think they still consider much of the country mined (with cluster bombs).
Should US consider more about its government debt ? Once and once again exceed ceiling ?
you mean the dept trap agreement the US forced to Nepal?
????😂😂 nice make up dude
Whataboutwhataboutwhataboutwhatabout......
@@Brendissimo1The american motto.
Nice job wumao, your 50 cents is in your account.
The China "debt trap" narrative has recently been debunked by the British Debt Justice and World Bank data. They found that African countries owe 3x more to Western banks, asset managers and oil traders than to China, and are charged double the interest. 12% of Africa's external debt was owed to China lenders, compared to 35% to Western private creditors.
China has since cancelled the debt for 17 African nations
As an Indian, even if we have border issues with China. I think China's investments have a lot more value for the overall region than US military bases.
Instead of just talking about debt trap, why don't the US & the West help Loas in the 1st place, so there won't be any debt trap?
There's no oil there 😂
Commerce and development should be a human right in any system of government
The right to survival and development are the first human rights! No human rights transcend these two rights.
But Western countries despise the first human right of developing countries!
USA bomb. China build. USA: poor Laos! Debt trap!
I hope Chinese expand the belt and road into the US, I would love to have high speed rail in the US
THE CHINESE DO NOT OFFER BRI TO COUNTRIES. IT IS THE RECIPIENT COUNTRIES THAT REQUEST FOR IT. N TELL CHINA WHAT THEY WANT TO BE BUILT.
@@williamgarcia1909 I did not know this. Perhaps if America had politicians who cared about us they would bring in Chinese companies to make the US a better place to live.
So what US and Europe do for Laos free? You cannot build a megaproject if without loan from others, unless you have enough money.
If building infrastructure is irresponsible, I guess it is more responsible to carpet bomb Laos with cluster bombs. /s
Sure talk about 50 years ago when 90% of Lao people weren't even alive. Don't worry about the 1.3 billion Chinese wanting to come in and swamp the country of 7 million with their gambling and prostitution and online scams.
Any Laotian person would much rather have this China-built new railway infrastructure that brings all the modern economic benefits , regardless of any debts, than the years of US bombings during the Vietnam war and all the unexploded bombs that have been left behind! A Laotian knows from his history who is a genuine friend and who is not!
The US bombed Laos and killed thousands of innocent Laotians and gave token help to clean up the mess that they left behind. China came to help Laos build a high speed railway, educated Laotians & provided jobs & raised their standard of living. What a contrast! Shame on the US for lacking humanity and morality in wrecking so many innocent Laotian lives then and even now!
Should Laos refuse such an opportunity and remain in economic poverty? The fears and anxiety that the west want poor nations to have and to remain poor is so disheartening. They refuse to help them to breakout of poverty by saying that they are helping them to avoid falling into debts. These rich nations want them to be low wage labourers to enrich themselves.
I love it when the commenters are smarter than the video publisher lol
The China "debt trap" narrative has recently been debunked by the British Debt Justice and World Bank data. They found that African countries owe 3x more to Western banks, asset managers, and oil traders than to China, and are charged double the interest. 12% of Africa's external debt was owed to China lenders, compared to 35% to Western private creditors.
China has since cancelled the debt for 17 African nations.
you are right about the environemental concerns but i'm still glad that they've built a railway instead of a 20 lane road for cars and trucks.
You can learn about it from the news on Facebook between the two countries. 1. China has hired local workers, skilled Chinese workers and trained them, providing a large number of jobs for local people, including workers, railway attendants, male train drivers, female train drivers, conductors, station operations staff, etc., You can see Laos staff at every train station. 2. China helped build a railway school, which currently trains hundreds of railway talents in various technologies such as construction, operation, and maintenance. 3. The current railway operation situation has exceeded the expected target. Railway passenger and freight revenue are growing every year, which greatly reduces the pressure of loan repayment. There is no need to worry about being unable to repay the loan.
I have read about this train project since it was newly constructed it was made by Laos government official, this is what they said, if the railway is making money they'll manage it and if not they will let China run the railway. either way they win, no more headache for the loan and since the railway is in Laos if China is successful in managing it they still will benefit from it