When Europe Avoided China’s Debt Traps

ATHENA, KOMPAS.COM – Billions of dollars of money from China have boosted the economies of some European countries – but there are some deals which turned out to be a problem. The critics said it was debt trap, where China can choose what happens if loan not repaid.
China asserts itself as a reliable investment partner – but Beijing also faces accusations of worker exploitation and environmental damage.
One of the horrific moments caught on CCTV. A worker the wharf at the Piraeus Harbor near the Greek Capital, Athens, seen walking along the pier next to the piles of containers.

WITH INDONESIA?
Suddenly, as he looked up, one of the piles of containers fell on him. He then ran to save himself and almost the two large crates were crushed – which ended up hitting an empty truck underneath.
Last year, another worker at Piraeus was not so lucky. Dimitris Dagklis, who is 45 years old, didnt have time to save and died in a heavy equipment accident.
His death was the result of our continuous work and facts that there are no proper safety measures in place work, complained Markos Bekris, the head of the labor union at the port.
Since Dagkliss death, the unions have been on strike on the reduction in the number of staff at the port – by two-thirds owned by Cosco, a Chinese government-owned company.
Across Europe, as governments fear a Russian invasion to post-pandemic Ukraine, Beijing continues to expand its portfolio. Running a number of ports and mines in Europe – building roads and bridges – invest where the parties dont other.
But those European countries have to weigh the rewards, and risk, from signing a deal with China.

AFRICA
They are increasingly wary of the so-called debt trap, that is when a lender such as the Chinese Government can take economic or political concessions if the receiving country investment cannot pay it back.

Source:  https://www.kompas.com/global/read/2022/05/04/173100470/ketika-eropa-menghindari-jebakan-utang-china