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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    What is not being told about..the future of the Iraqi economy to where?!

    Rocky
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    What is not being told about..the future of the Iraqi economy to where?! Empty What is not being told about..the future of the Iraqi economy to where?!

    Post by Rocky Mon 30 May 2022, 8:46 am

    [size=33]What is not being told about..the future of the Iraqi economy to where?!
    MAY 19, 2022
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    Nowadays, China is trying to support its plan in the One Belt, One Road project or the so-called “New Silk Road” by not interfering with geopolitical tensions.
    Supporting some countries that constitute a cornerstone in this path militarily, culturally [You must be registered and logged in to see this link.] investment, particularly in the field of energy.
    Among the most important of these countries that support it is Iraq, which is considered a key region in the export of oil, as 90% of the revenues of Iraqi imports come from crude oil.
    On the other hand, China excels in many fields of technology and infrastructure [You must be registered and logged in to see this link.] , especially that Chinese state-owned companies are the largest investors of oil in Iraq, whether in modernizing or developing infrastructure in this industry even during the extended period of the war and beyond.
    After imposing sanctions on Iran, China is seeking today to cover the shortage of oil imports by searching for oil-exporting countries, in a move that would constitute a severe blow to the Iranian oil sector, as the two Chinese oil companies were buying nearly 600,000 barrels per day of Iranian production.
    On the other hand, Iraqi oil exports to China increased from zero in 2007 to 270 million barrels annually by 2017, ranking second after Saudi Arabia in the Middle East, where Iraqi oil exports represent about 8.8% of the total Chinese oil imports.
    And China found in “loan diplomacy” the best way to expand its influence, adopting the “carrot and stick” method, whereby countries are tempted to engage in the distinguished project of Chinese foreign policy, which is known with the participation of 138 countries and 30 international organizations, with a colossal value of up to eight trillion dollars, before For the governments of these countries to sink into the debt quagmire, by granting them billions of dollars in loans on special terms, they are well aware that many countries will not be able to pay the debts nor their interests, only to find themselves a victim of a “debt trap.”
    The term “debt trap diplomacy” is attributed to Brahma Chellani, the Indian thinker and academic, and he used it in his criticism of the Chinese government’s policy, which gives huge loans to countries, but in return seizes their strategic assets, as collateral for loans in the event of default, when speaking about the dragon strategy. The Chinese aim to exploit resources in the Third World, conquer local markets with low-quality Chinese goods, and even labor to compete for local jobs.
    And the story of the “debt trap” was revealed in 2017, when a report spread confirming China’s clever takeover of the port of Hambantota city in Sri Lanka, after the state government was late in paying its debts, and Sri Lanka found itself paid, under the terms of the contract, about the privatization of 70 percent of the debt. China-funded port of a Chinese company.
    And China intends to seize the projects that it has financed, which are ports, airports or strategic infrastructure, or at least take the right to use them for a long period, sometimes up to 99 years.
    Chinese companies have been working in Iraq for years that may exceed a decade, and they focus a lot on projects related to oil and its derivatives or logistics services related to oil extraction operations in the regions of southern Iraq rich in natural resources.
    But these companies, which have annual investments in the billions of dollars, are almost absent from oversight and from the eyes of the Iraqi, Arab and even international media, so they seem to be discreet companies that do not practice corruption.
    According to informed sources, "Iraq lost millions of dollars due to the corruption of Chinese companies, which took advantage of the country's conditions and sought refuge with political parties that have great influence in Iraq and were able to evade taxes."
    According to the sources, "these companies follow the mechanisms of dispatching officials and employees who have ties to their work to China and to Europe, in order to offer them temptations to cover up the corruption operations they carry out during their work in Iraq."
    The deputy in the Iraqi parliament said during a television interview, "In Wasit Governorate, for example, we have 3 experiences with Chinese companies, which are among the worst applications on the ground, adding that the problem is corruption that hinders all steps of reconstruction."
    In addition, the work of these companies is not limited to oil fields only. Earlier, they entered the file of armament contracts, but this file was also marred by corruption, according to the parliamentarian, who revealed in 2016 violations and suspicions of corruption in an armament deal with a Chinese company, and confirmed Other companies submitted bids with this company and were removed.
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