Chinese loans seems cheap but do not add much to the economies they are lent to because much of the money goes back to China in purchasing of raw materials human resources. China strategically gives loans to the developing countries with agreements that their engineers should carry out those projects.
It was rumoured that Kenya could lose one of its sea ports due to a loan it owes China. Entebbe international airport is an iconic port for Uganda and if the claims come to pass then it stands to lose it due to the Chinese debt trap.
Corruption in the countries has stirred the matter even more. These governments should cut down their expenditures and fight the runway corruption so that the can be freed.
Content created and supplied by: GadNyabuto (via Opera News )
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