"In addition, Montenegro's former government signed off on allowing a Chinese government court to have the final say on the execution of the contract." I think it's fairly obvious why the bank...
"In addition, Montenegro's former government signed off on allowing a Chinese government court to have the final say on the execution of the contract."
I think it's fairly obvious why the bank lent Montenegro the money. I may be wrong, but don't Chinese firms have a history of doing things like this? I couldn't find any examples because I didn't know what to search, but I'm fairly certain I've heard of this happening before.
EDIT: The article does mention basically the same thing happening with roads and highways in Greece.
There's a lot of concern about this happening in Africa and the Pacific. I'm from NZ and am currently listening to a podcast about China's influence. They spoke to a bloke in charge of setting up...
There's a lot of concern about this happening in Africa and the Pacific. I'm from NZ and am currently listening to a podcast about China's influence. They spoke to a bloke in charge of setting up an iwi (tribal)-owned ISP. The NZ govt wouldn't come to the party, but China loaned them $6m on the back of a 30-minute meeting. The iwi struggled to pay back the loan at first, but the Chinese were fine about it. Very different from lending governments money, but there is a lot of Chinese money going into economies around the world.
"In addition, Montenegro's former government signed off on allowing a Chinese government court to have the final say on the execution of the contract."
I think it's fairly obvious why the bank lent Montenegro the money. I may be wrong, but don't Chinese firms have a history of doing things like this? I couldn't find any examples because I didn't know what to search, but I'm fairly certain I've heard of this happening before.
EDIT: The article does mention basically the same thing happening with roads and highways in Greece.
There's a lot of concern about this happening in Africa and the Pacific. I'm from NZ and am currently listening to a podcast about China's influence. They spoke to a bloke in charge of setting up an iwi (tribal)-owned ISP. The NZ govt wouldn't come to the party, but China loaned them $6m on the back of a 30-minute meeting. The iwi struggled to pay back the loan at first, but the Chinese were fine about it. Very different from lending governments money, but there is a lot of Chinese money going into economies around the world.