Chinese Money Traps: Warning For Ethiopia

Chinese Money Traps
Chinese Money Traps

Many Ethiopian citizens are not aware that borrowing money from China to build infrastructures and factories that will create jobs for growing populations has serious consequences,

in a recent Video Nas Daily, explains how Chinese money traps are affecting countries that can’t pay back the loan they borrowed fully,

Last year, with more than $1 billion in debt to China, Sri Lanka handed over a port to companies owned by the Chinese government. Now Djibouti, home to the US military’s main base in Africa, looks about to cede control of another key port to a Beijing-linked company, and the US is not happy about it.

Ethiopian can still borrow money from international partners like the United States, International Monetary Fund who will not take the properties or lands that belong to the country

Chinese money Traps: Warning For Ethiopia