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From Dr Shailendra Singh on China in the Pacific: is China engaged in “debt-trap diplomacy”?
Thank you for the clarification Matt. So much research, so little time! As we know, debt is not static. The situation can change- for better or worse - in a blink, so hard to pass definite judgements/firm conclusions.
China in the Pacific is a complex, multi-faceted, evolving phenomena not easy to keep abreast of, or fully comprehend.
Your research is helping understand the puzzle better. I look forward to more.
From Matt Dornan on China in the Pacific: is China engaged in “debt-trap diplomacy”?
Hi Shailendra,
Thanks as always for your comments. In this blog, we're solely focused on aggregate debt and the portion owed to China. We don't consider other questions, admittedly also important, such as: the quality of projects for which loans are made (an issue in the Malaysian case, and also in some projects in the Pacific), and the related issue of corruption and impacts on governance. I agree a comparative study would be interesting. Also interesting would be a debt analysis in which PIC debt is contextualised as part of the global trend, which has also (as a result of low interest rates) seen other developing countries increasing their debt. Thanks again. matt
From Satish Chand on China in the Pacific: is China engaged in “debt-trap diplomacy”?
This is an excellent and long-overdue piece. Thanks Matt and Rohan for putting the debt figures together. Data quality is a perennial problem in the Pacific, but this article allows others to build on the figures provided. I would also like to see rates of return on public investment by source, and issue that requires disaggregated data. Any help on this would be greatly appreciated.
From Rieko Hayakawa on China in the Pacific: is China engaged in “debt-trap diplomacy”?
Vanuatu Daily Post also posted a similar story - http://dailypost.vu/business/the-debt-trap-myth/article_54428acb-4e7e-5e51-8f3d-8b06586821a4.html
But they also pointed to the citizenship and passport sale scheme for Asia, I assume China. I just found out that Vanuatu citizenship and passport is more attractive as they offer visa free to the EU - http://nomadcapitalist.com/2015/07/15/how-to-get-second-residency-citizenship-in-vanuatu/?fbclid=IwAR2zOJkHHKyuie4VoR6jJ-yZovg8ni4h3hXegKbbS5Aoa_LfE-OuMT51l_Q
From Mark Davis on China in the Pacific: is China engaged in “debt-trap diplomacy”?
Does PNG debt include SOE borrowings and other off-balance-sheet debt?
From Dr Shailendra Singh on China in the Pacific: is China engaged in “debt-trap diplomacy”?
Solid, well-researched, thoughtful piece by colleagues Matt and Fox, although not all the details are always in the data/numbers alone and media reports should not be pooh-poohed out of hand. Moreover, should the Pacific be studied in isolation, or in comparison with other countries/regions to to provide a more complete picture?
Hot the heels of the Dornan-Fox report a news item from the South Morning China Post about the Maldives' Chinese experience:
The Maldives owed Chinese government US$3 billion, not US$1.5 billion as widely estimated. Nearly all the deals secret, at inflated prices, potentially corrupt.
Is corruption a variable in the Pacific and was it/should it be considered in drawing conclusions?
In the Maldives case, the liabilities are greater than initially believed and will soon outpace the islands’ ability to pay. Any future lessons here?
If all above board with Chinese loans, why did Malaysia cancel two projects worth US$22 billion? Why is Pakistan trying to delay or revisit some projects worth US$60 billion?
Are these developments relevant to the Pacific or not? What can we learn from them? Should they be part of any review on the subject to provide broader conclusions? For example, is it relevant to the Pacific that Sri Lanka, after failing to renegotiate loan payments, ceded a port to China under a 99-year lease?
<a href="https://www.scmp.com/news/asia/south-asia/article/2172236/new-maldives-government-begin-untangling-secret-building-deals" rel="nofollow">The full news item is here</a>. Is it media speculation or are we lulled in a false sense of security?
From Shailendra B Singh on China in the Pacific: is China engaged in “debt-trap diplomacy”?
'Debt-trap claims unfounded. Pacific NOT drowning in Chinese debt'. Question is consequence of continued borrowing at current/accelerated rate. Any long-term financial risks or not? Should we look at Pacific in isolation? Do Sri Lanka, Africa hold any lessons for us or not?
From Aiou Tutors on An ex-volunteer’s perspective on improving the Australian Volunteers program
Over the years since my assignment I’ve continued to work remotely for my host organisation on an as-needs basis because my experience on the ground with them and my knowledge of the programs means I can deliver what they need quickly.
So the volunteer program can and does work, just not for everyone and not all of the time. Maybe all the organisations involved need to go back and really look at the value they place on their ICMs and work out how to gain and retain the best people for the role. Because finding someone who can fulfill all of those responsibilities is tough.
The top ICMs should be recognised and rewarded for their commitment not only to the volunteer program but also to the development landscape in the countries where they work.
From Maylee on More than a target; diversity as a development effectiveness principle
Great post, couldn't agree more. There are a lot of contracting/ delivery partners that we work with which seem to have a 'carbon copy' hiring policy.
From Clay O'Brien on Labor is making big promises for a new Pacific development bank, but many unanswered questions remain
This is a most welcome initiative by the Labor Party. Many people, <a href="https://devpolicy.org/an-investment-bank-for-australias-aid-program-20180515/">including Bob McMullan and myself</a>, have been arguing for years that Australia should join most of the other OECD countries and set up such a Development Finance Institution. This would allow Australia is do more with its aid program than simply making grants, eg loans and guarantees, and could be expanded beyond infrastructure to others areas of development, such as financial inclusion, renewable energy, education, housing and healthcare.
From Aderito do Rosario on Identity and opportunity for Timorese migrant workers in the UK
Thanks mrs Ann, for being keep in touched with timorese workers in UK and please keep looking for the others timorese in the UK. I my self have a plane to go to the UK as the others has done. This is I think the best Way to fine jobs for the beter future.
Finally if you have an ideas about that. Thanks for your kindnes
From Sheldon Chanel on China in the Pacific: is China engaged in “debt-trap diplomacy”?