Why Europe will have to face the true cost of being in debt to China

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The Beijing investment offers that need to be weighed up by European countries.

Billions of dollars of Chinese money are boosting some European economies - but some of the deals being struck have a catch. Critics say they are "debt traps", where China gets to choose what happens if loans aren't repaid.

"His death was a result of the intensification of our work and the fact there were not enough safety measures in place," laments Markos Bekris, chairman of the dockers' trade union in the port. There are also claims of workers being exploited by Chinese firms - in terms of pay, conditions and staffing levels. We put questions to Cosco about Dimitris Dagklis's death, staffing levels at Piraeus and environmental concerns about port expansion. The company said it wouldn't give us an interview and couldn't help further.Bekris doesn't blame Beijing exclusively for contributing to what he says has been an erosion of employment rights.

On the opening day of its own Winter Olympics, China declared a "no limits" partnership with Russia and promised to collaborate more against the West. Since then, China has resolutely failed to condemn President Putin's assault on Ukraine.In Piraeus, the alleged environmental damage caused by port expansion has prompted legal action by local people against the Chinese owners, Cosco.

Following the 2008 crash, the so-called "European troika" of the European Commission, European Central Bank and the International Monetary Fund were adamant the port be sold to help service Greece's spiralling debts. In Europe, but outside of the EU, Serbia does not have the same level of workers' rights you would expect to find in Dublin, Madrid or Vienna.

"They forced us to work more, but they did not provide enough supplies. When I first came here, I got twice as much food." Employment documents we saw in Serbia - a country with ambitions to join the EU - appear to have been copied and pasted from those used for foreign workers in Middle Eastern countries which have the death penalty.Serbian non-profit organisations - who first told us about the conditions at the Ling Long tyre factory - say they were shocked when they realised what was going on there.

The Serbian government argues investment from China has turbocharged its economic growth and President Aleksandar Vucic has argued further Chinese investment should not be jeopardised by a small number of Vietnamese workers.But there are other reasons for caution too.- but also "data traps". He told the BBC last year that China had the capability to "harvest data from around the world" and used money to "get people on the hook".

 

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This article is missing important facts. Greeks sold the port to Cosco (China) under one condition, not to fire anyone. Those who got hired from the previous political parties start slaking so the Chinese hired new ones (to do the job the old ones supposed to). It's hilarious...

I don’t think we’re that far from the china slave employment status, we have people in this country working 15hrs a day and still sit in poverty, pot and kettle comes to mind

In other news: National Crime Agency raids home of Tory peer Michelle Mone in connection with dodgy PPE. Reported by every news channel except the BBC. Who owns the BBC?

Make no mistake, China is a Communist terrorist authoritarian country. President XI is a smarter pariah than Putin, which makes him all the more dangerous.

1/ These losers in BBC never give up do they? Their China debt trap in Africa all but fell to deaf ears. Their bleak lying publicity gained China ever more infrastructure projects in the African continent, and everybody are happy merrily after, save the BBC trolls...

President Xi has made no secret of the fact that he wants China to dominate the world by 2049,and the West has helped by handing them our manufacturing and technology. Our thirst for cheap products and 3rd world countries' gullibility for unaffordable loans also contributes

People want Sanction on China. Ban Chinese companies. Boycott MADE IN CHINA. No Visa, Business for China citizens as threat to National security Democracy Freedom Economy territorial integrity. We see Cyber Attacks Economic Espionage, Stealing, Toxic Chinese products poor Quality

Who gives a fuck? We're not in Europe anymore, thank fuck. (Especially given the recent news about the uprising of the 4th Reich, disguised as the European presidency).

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