European banks and the IMF refused to give Montenegro a loan, then criticized them for taking the only loan they could get. Good job IMF, really looking out for this small country.
@@mclarenm1 help build up it's people and it's economy allow them to raise their GDP and household income so they don't need loans anymore. Simple enough Biden?
The problem with this highway is that’s it’s a very expensive road anywhere in Europe and the economic output could be better put some where else such as the more advance countries of Europe. The road only cuts a trip in half 4 hours to 2 hours.
@@chandra6063 the EU is not a bank, it's a union of millions of people. Some member states have been refused a loan because not trustworthy enough to pay it back. Europe has suffered a lot under the economic crisis of 2008 and now the corona virus which results will be suffered for at least 2 decades. Tell me, why they should help some foreign country at this time. Why would they risk the wellbeing of it's own population for some foreign nation, considering there are already some EU nations who are fairly poor amd would need the money as well?
@@vodkaboy It’s a business! When was the last time you borrow money from the bank and you didn’t have to pay back?! Don’t they just take your collateral or home for that matter? China building infrastructure, schools, highway, hospitals and business cooperation is better than the West especially the countries that have colonized sovereign nations which has done most of the damage. Building military and engaging with wars. Invading and looting other countries and sanctioning them. How is that fair? Let’s not even talk about those western powers enslaving ppl just to benefit their own cause. The West should reflect themselves of their wrong doings over the past several centuries!
Well.... US came to Iraq and wrecked all the highways but they did not forget to confiscate the oil wells and gave them to their firms . I see no problem with Chinese loans with 2% interest.
@@HTHAMMACK1 ''To this end, as Whitehall documents obtained by the Independent show, the US and British sought to privatise Iraqi oil production with a view to allow foreign companies to takeover. '' ''Before the 2003 invasion, Iraq's domestic oil industry was fully nationalized and closed to Western oil companies. A decade of war later, it is largely privatized and utterly dominated by foreign firms. From ExxonMobil and Chevron to BP and Shell, the West's largest oil companies have set up shop in Iraq. ''
福圆 even 100% interest is nothing tobe justified.... as long as both parties sign the contract voluntarily, without the use of violence that break international law
@Patrick Riarchy In January 2010, ExxonMobil Iraq Limited (EMIL), an affiliate of Exxon Mobil Corporation, signed an agreement with the South Oil Company of the Iraq Ministry of Oil to rehabilitate and redevelop the West Qurna I field in southern Iraq. On September 20, 2013, the first well had been successfully opened and production restarted at Majnoon. Shell Iraq Petroleum Development (SIPD) won the contract to develop the Majnoon oilfield on behalf of the Iraqi Government’s Southern Oil Company (SOC) in 2009. Majnoon is one of the areas in the world most heavily contaminated with explosive remnants of war. The first stage of field development has involved clearing the area. During its construction phase the project has cleared over 22 square kilometres of land of explosives.
Montenegro is honestly a hidden gem. Visited this year while road tripping Eastern Europe and we were astounded by the high quality accommodations with amazing ocean views for extremely cheap prices. I'm talking around 100 Euros for a 4 bedroom apartment. Anyways my family plans to invest in Montenegro's tourism sector before it gets eaten up. I absolutely love Montenegro
Marinko Marinko Nobody want to keep googling random shit each time they find something new that is going to be worthless or useless in real world. Many people watch thousand of youtube video per day or week so imagine if you had to research each topic and thing you find.
I am puzzled by all the negative comments. Maybe China came to Montenegro with ulterior motives, but 2% interest rate is so low that it could easily be drown out by the inflation. I am sure that Montenegro would have easily accept a better offer if there is any. I think Montenegro will be a better place because of the project.
because this is an anti China propaganda made by the World Bank a.k.a Bank of America. go figure, even the interest rates of any western bank on civilians is higher than this project. Epic.
@Malcolm L You mean America and not China, America has been mining gold and ores from South East Asia with impunity while funding warlords, oh and who has more than 800 military bases all over the world holding their host state hostage? take a guess.
@@kenyu9019 try to think from two perspectives here for once? Propaganda? Do you even know what propaganda is? China has a very department explicitly called the Propaganda Department. They ban most media and influence from the rest of the world, control the whole internet and whitewash their own history. Their people cant even access YT. They're still pretty much communist at heart. They don't care about humanity, they only care about progress. But hey, you don't care since you can only look through hatred through the US side. Somehow you can't even talk about anything China, because you DON'T KNOW China. The country ruled by the same party that killed 70 million of its own people but 'kay, USA is worse apparently.
The thing I don't understand is that if someone is aware of the loan and the interest rate and still willing to take it for, wouldn't it be their own choice? It's not like China forced the offer.
The truth is : When many of the developing countries want to start to build infrastructure, often the IMF is not willing to lend the money to them. And very often when those countries invite different countries for bidding in their infrastructure projects, the quotes from Japan, US, Germany and the like are way much higher than China. If some genius can give a solution to the leaders of those developing countries how to "escape" from this "trap" other than asking them to give up the dream to get any decent infrastructure in place for their country and continue to stay under-developed for decades or even centuries, I'm sure the leaders are more than happy to know!
@Akatsuki kudos to India, responsible government should seriously include infrastructure building, for the good of the people. However in many countries, it was not planned/done, because infra building is such a large project, and will easily taking far too long for politicians to show result within one term, or two if they are lucky.
I can't say for other countries, but in the case of African countries with respect to France, France would like them to remain the current status, ie poor and undeveloped. Because it's only in this way that France is able to maintain the standard of living of the French people. As Jacques Chirac (or François Mitterrand? Feel free to correct me) has said, "Without the Africa, France would have dropped to become 3rd world country" (or something like that).
The world bank believes Montenegro will have problem when it's time to pay their debt, they'd rather Montenegro not take any risk and stay poor, and there will be no problem. Good argument World Bank.
Well in fairness, considering the stakes are that China could take some of their territory if they were to default, many would consider it too high risk to be worth it
The point is that it's a highway to nowhere. Even the government official seems to only justify the need to build a highway because "it's the 21st century". The documentary is too short to explain the details here; but I would suggest that you google the term "debt-trap diplomacy"
@@cpufreak101 there are always risks in opportunities. even China itself struggled when it first accepted some big projects, just like this Montenegro here, a sudden 80% plus foreign debt. debt is not the most terrible thing, the most terrible thing is that you can't even get a debt to kick off your development progress. you know only 40 years ago we China was as poor as most African nations? now we are screamed at for "buying up" or "colonizing" poor nations. hmmm. by the way, back then, the nation who lent us the money was Japan, the nation that invaded us and dragged the entire nation into the disaster, we had much more problems for that offer other than just debt, but our leaders took that money and kicked off the economy. and, the most interesting thing is, Japan also experienced all that, they started with a nation that was boomed to nothing, then they accepted the debt from the United States. That's just how economies develop.
@@wguid To me, it looks like Sri Lanka is still the 'winner' even if they defaulted. Because they still get a port built in their country. The only difference is locals have to pay more to use the port. But that is still better than no port at all.
@@wguid yes I agree, that's an important part of the political risk that Sri Lanka has to calculate. But economically speaking, Sri Lanka is the 'winner' in the most part.
The US has safety standards and codes to follow so the thing doesn't collapse. China and non-EU members have few standards so things go quicker with less red tape, but on the flip side you don't know if the bridge will collapse in 50 years.
That's so true. Some highway projects sit for 30 years here in the US because the government fights the people and companies or they can't get funding and try to buy up land from everyone on the route, etc. Meanwhile, Korea, China, etc. can build whole highways of 20 or 30 miles in just a few years. When I lived in Germany (10 years after reunification) in the east, whole highways would practically just... appear! To the point the map you bought 2 years ago is missing roads all over the place. Workers actually work 24/7 instead of these stupid union workers who work maybe 9 to 5 with tons of breaks and people just lingering and fooling around... 8 hours a day, if even that, and have all these protections. THAT is what slows down progress immensely in the states compared to other newly-developed nations like in Asia. There are pros and cons to all of that though, of course, such as worker pay issues, but in development as a whole, things like union rules drastically cut back progress in the US. Live overseas and see development and progress in action and it's hard to support the way the US *tries* to develop its infrastructure, even when adding worker's rights, pay, etc. into the equation.
I think that the pedestrian bridge collapse (coincidentally a 5-minute walk from my apartment actually) is a poor example for safety standards as it doesn't carry auto traffic. The bridge was more of a private contract thing for the university. Even where there are standards, there is corruption that allows for cutting corners. You can see that in any government sector (becoming very commonplace in the US nowadays actually). The Wisconsin DNR, which is supposed to protect the environment, recently gave a permit for a company to destroy wetlands to build a mine. They hadn't even followed the procedure to study the impact as required by their own laws and gave the permit anyway. Parts of it were recently blocked by the courts because of public outrage on it. Then of course, also environment-related, we have the US EPA run by someone who has dedicated his life to destroying the agency that he himself now runs. You could only imagine that such corruption is prevalent in other agencies, such as ones that control transportation standards too. But it's true... some countries have fewer safety standards. But just because the US has better standards doesn't mean they are adequately followed.
Without infrastructure poor countries remain in a Poverty Trap of stagnation. Infrastructure is the essential platform for countries to grow and modernize
LOL, but keeping corrupted government and giving them more wealth will surely help grow and modernize, right? The very fact that these countries will default soon and those loan will have to be pay back somehow.
Cuong Nguyen why are butthurt about it ?? Didn’t China also help your viet people built bridge and road too ?? And what are you now ?? Still a poor dog on the street ??
@@chhaylong8872 LOL, China "HELPED" so much that to VETOED Vietnam from joining WTO for 7 years. Basically what China accused the West did to China, China turned around and did the same to Vietnam. That actions alone slow down Vietnam's economy considerably and then the flood of FAKE and DANGEROUS products, destroy many sectors in Vietnam. The poor dog here is Chinese who think they "HELPED" by screwing neighbor countries first.
I couldn't really get him and I'm Indian. They make this for everyone and I'm pretty sure this is headedby a far more educated and well informed than a ramdom youtube commenter...just because you can understand it doesn't mean everyone in the world can xD
China has used building projects exactly like this in Sri Lanka, Pakistan, Djibouti, and Cambodia so far to "loan" an absurd amount of money which the country can't take back and then China establishes a military base there. America feeds starving people in Africa, North Korea, Afghanistan, and South America
China has been expanding their own roads in rural areas and through that, has increased export and allowed the residents to become wealthier. This is a similar situation. The government must make the most of it.
I wonder what would have been the reaction if the road was being built by a European or American country? So, China is having it's fling, as so many countries have done in the past, let it be, if the work done is for the benefit of the people of the country then we must accept that it is the business of the country and China. An end to the interfering.
@@monsterrr1999 have you seen recent African nations' GDP growth rate? especially the nations that China invested heavily, for example, Ethiopia? I remember just 15 years ago, the western media was still portraiting it as a "hopeless continent". yeah, the debt trap which brings decades of economic booming, very funny.
@@zsydeepsky2 I stand corrected what I said. Nothing is for free. In all honesty, we did not need anyone help, it would be better if everyone leave us alone in the first place. We wouldn't have been that poor if it wasn't for the west colonisation and we never ask for your help, your people keep pushing it down in people's throat about how good you are and bla bla bla. You really think we are that stupid? You guys are basically modern colonists because you are pretending to help but you knew you would get fucking rich off us and give less in the return saying you saved us all from the "poverty" by building the road. Get the hell out of here. Go and help your neighbours and stop going to somewhere really far, instead.
@@monsterrr1999 We never say we "saved" you, sorry, in China, our motto is simple: "One can only be helped by itself" you are not our responsibility, we have no intention to take care of you. We have our goals, we need minerals for our industry, we need customers for our products, we never hide it. Surely it would be nice if African nations can prosper and be able to be a decent customer marketplace along the process so we would like to do something for you, in exchange for a better outcome. This is how capitalism and the free market works, for hundreds of years. So we came to Africa with business offers, what we did in our best is that we treated you as equal business partners, we don't force, we don't bomb, we ask for permission, for contracts, then we do the business, it's that pure and simple. You can always say no, that's always your rightful choice. if your leader said no, of course, we will leave you alone. Yet your leaders said yes because, for hundreds of years, we might be the first big player ever offered the deal with that equality & respect. So yeah, you can always say no, if you can use your vote power in the next election, you can always support the politicians that will decline our offer, the choices are always up to you people. after all, we only help one who helps itself.
@@monsterrr1999 It's not a debt trap. It's a win-win for everyone. African countries will experience tremendous growth from the infrastructure projects China started.
@@SomeoneFromBeijing nah man, alls i am saying is because Constantinople shares a border with bulgaria, so need to move through greece Btw Greece is is in a economic shitstorm with economic mismanagement, influx of radical migrants etc And p.s, I absolutely hate the whole idea of one belt one road
Gaming Nation Trust me many Chinese doesn’t like that idea either. It’s just another creative way for the corrupt regime to spend our tax money instead of investing in our welfare. We’re now in a Coronavirus crisis and the government is asking us to donate.
I found the interviewer to be fairly patronising towards the Montenegrin people. So what if the world bank says this or that? The world bank have their own agenda’s in the world. And he is acting like this loan could break the country yet the interest is only 2%. In 40 years, China will be lucky to even get any return on that loan. I’ve visited Montenegro many times now and I can tell you it’s a country nowhere near it’s potential. The people, the landscape, the talent: it’s all there waiting for an opportunity. And as for this idea that the road should have been built when the economy was better- well it’s too late for that. So what better time to invest than “NOW”. Why wait? Also, when things are tough, it’s the right time to invest. To change things up. The world is changing but businesses and countries need to change with it. It’s no good waiting around. Montenegro are taking a risk and it might work out very well for their people. But never forget that doing nothing is also a risk and I would imagine that doing nothing would be the bigger risk in this scenario.
rabrandom ...imagine yourself as a bank.Would you throw away money if you’re not sure whether you will get it back?The return has to be something worth your while!
majda vojnikovic I think that's why China is also investing in Serbia. If you just sit there and keep complaining, shitholes remain shitholes forever, until someone stands up and actually does something to make a change.
Chinese workers even work during the weekends. If you count all the weekends in 1 year, it's around 96 extra days, or 3 extra months to get the job done.
I don't see why vice is bothered so much. It's just 2percent interest. If you count the inflation it is almost interest free. I bet world bank doesn't have balls to do this project.
2Cheek 2% is actually a prime rate in Canada. If that is a poor country, it is like a person with bad credit. It is not how much interest he pay, it is he can't get a loan at all. When you want to kick start your economic, you blow cash on infrastructure, when you have too much cash and don't know what to do about it? Put them on infrastructure... It is always better to have the infrastructure first the. Figure out how to fully utilize than when you try to ship something, but there is no way to get it out.
Montenegro GDP - $4 Billion. Growth Rate less than 1%. 2% is very high interest rate for Montenegro. If you feel it is just 2% then will you be ready to pay the interest. How it is interest free if inflation is counted? can you explain?
Johnny Dominguez ask yourself, how long it is going to take you finish a 100km highway in your country with your contractors? 10 years? maybe 20? in china only takes less than a year.
Without China, these 'poor' countries would never receive such investments. Risk comes with any investment. But without taking any risk, there would be no progress at all.
China literally knows the counties of the Belt and Road cannot pay off their loans and literally just seizes major places. For instance, Sri Lankan major port
but EU or IMF will not the risk. China know the risk ad help african and poor eastearn europe country, with no political deal. and the goverment guy have mention they want to join EU with this road to bring the economy in and out for his country.
Y2Kvids right and without a highway, business fails long term. They need it for transporting goods and tourism. Air can't be used for every single instance.
And that's really why China is doing so well in third world countries. EU/US investers and banks are all about talking about the individual risks that an investment would pose to their position. China on the other hand has a collective grand plan and the means and knowledge to implement it, this is why they are able to do these kinds of projects and it's not very different from what the US has done in the past.
Where is that money now? They have caused trillions of dollars worth of damage throughout the world because they arrested doctors who were warning people about the virus in December, only for those same doctors to die from the very virus they were trying to protect the world from. You have been fed propaganda like many others and now the world is paying for it while China hoards all of the medical supplies and sells them at a massive surcharge, while “donating” faulty ones.
In 2004 while staying in Ethiopia, i recall huge infrastructure initiatives. One moment that stands out was an army of Chinese workers (1k+) walking down a highway one morning to their jobs and me thinking to myself this was the beginning of a global shift.
@0:35 vice says "China invest 15 billion in Central Europe, most of the time that money is not a gift, but a loan" Noshit vice, who in the world would give 15 billion for nothing? Difference is China is amorously willing to lend these small countries and help them without lots of preconditions, while world bank and co wouldn't. Everyone only cares when China does it, but the West loans money with even worse conditions that's just normal eh? Well it's a new world order, and China is gonna be in the top position soon. Economically that is, while the US can continue to play world police and make endless enemies and waste endless monies while China will quietly continue to benefit from it as it has been doing for the last 3 decades now. China will even lend money to the US to continue its ways! Haha China is smart, the US doesn't even seem to know or care about its position or reputation in the world
@W.A M.P It's only when you can't find any facts to defend yourself that you start badmouthing and call everything that people say in favour of China as propaganda. Poor lil brainwashed westerner. 0
See that’s why I say some westerners always got stuck in the quarrel of ideology and become deficient in even a tiny bit of logic. What do China’s economic growth and foreign investments have to do with Tiananmen incident? Does America, Britain, Germany, Japan or any Capitalist state holds perfect records of human rights? What’s so different about China then? Have you even been to China and understood the drastic change happened there over the past 3 decades? Or are all the materials upon which you portrayed China in your mind come from western media? You can always find ways to mistrust someone if you want. Btw do you really know what’s happened on Tiananmen Square? If everything you knew was acquired from western media then I can assure you it’s highly biased. One thing pathetic about westerners is that they are being fed with propaganda by their media everyday and they don’t even realise, while Chinese people at least do. Meanwhile I’m not defending for the communist party and I do no think China is as liberal as many western countries at the moment but you attributing everything China has achieved to stealing is just unacceptable and I don’t know where you got that arrogance from. You act like you have a critical mind and know China very well but I assume you can’t even read any Chinese.
China offers better loans than imf and other development banks in the world because China has Top 4 of the largest banks in the world. Most critics talking about debt trap knows nothing about loans. Which bank gives loan for free ? Just name one.
@@Indialeadsoverall you didnt mention for how long the loan payback period is and what are the guarantees for the loans. I can get lesser loan interest if I spread my payback for 50 years compared to 20 years.
EU gives much better loans, and doesn't requires own working force on projects like china does, but: 1. they want to control process and results 2. They don't bribe notoriously corrupt eastern european politicians like china does.
First of all....things you are talking about are mostly not available in public and secondly china using its own labor force to build roads....well if pakistani are not allowed to make roads which you are capable of then how can you think of running energy projects such as electricity making which requires intelligence. If such things would have happened in india people would have revolted against the country.
I do feel sympathy for the Chinese workers and engineers working in remote countries and live so remotely in areas that people hardly access. I just felt that they must have a very strong will to work and live their life like that. And they probably didn't even get paid well. Just for this one reason, I would appreciate them.
Must be nice to get money from a foreign government. And when the foreign government defaults your local government just seizes all the territory. This is economic warfare and China is fighting it hard to seize territory across the world. I feel sympathy for the militias of the future that are going to have to fight against the Chinese, in their own countries, for their freedom.
@@ericcartmann Hundred of countries around the world borrows money from China. Only Sri Lanka has defaulted. Investing in the future is always a risk. I do not see China doing anything wrong.
US has over 800 military bases in 70 countries. China will not be able to catch up even with the Belt and Road initiative. US helps other countries by sending in bombs and army. China helps other countries by sending in infrastructure engineers and construction workers.
The truth is the belt and road project is more of a geopolitical move to increase influence over the world. China needs to increase its influence if it intends on becoming a world power otherwise it's simply a country with a large export economy that is susceptible of losing the majority of its exports to other rising powers in Asia such as India or Indonesia. This combined with the fact that the U.S is becoming wary of China has caused China to see the need to develop its own sphere if it intends on becoming a world power. This is as the creation of their own sphere allows China to 1 receive more lucrative trade deals and 2 to give China the means to defend itself against a U.S economic attack. Therefore China seeing the incentives has created the belt and road just like how the USA currently uses its own vast network of military bases, intelligence networks and financial tools to maintain their own sphere. Now, how does one exactly create their own sphere? Well, China is attempting to create their own sphere by targeting 6 areas. These are 1 Establishing suitable sea routes, railroads and highways to transport high volumes of goods to and from China. 2 Being able to defend these routes while also having the means to conduct an offensive attack. (This is less seen at the moment with railroads and highways but can be seen in China's actions in the south china sea and in Sri Lanka.) 3 Being able to influence foreign governments by only providing beneficial infrastructure loans if the government is friendly to them. (U.S.A does a similar thing with IMF however at least in IMF other countries can form coalitions to cause the same effect.) 4 Being able to essentially blackmail countries by providing them with critical infrastructure such as the internet so that China has the potential to deny these services in the case of diplomatic fallout. 5 Ensuring they have the necessary resources to allow their country to continue to operate extremely well by essentially financially/diplomatically annexing countries. This is most notably occurring in Africa. (It should be noted that both the Brittish and the USA are notorious for doing this as well.) 6 Establishing their own intelligence networks to further their country. Now is this any worse or better than the current status quo with western powers? Well, some might argue that the Chinese have not been extensively flexing their military might to achieve their goals however considering their newfound hobby of constructing naval bases this may not be the case in 10 years time. 2 it should be noted that while the U.S is notorious for being evil the Chinese are also not saints either as seen in their actions supporting the Khmer rogue/pol pot during the Cambodian genocide. Finally, it should be noted that China, unlike the western powers, is an authoritarian regime that doesn't even pretend to be democratic. It has committed substantial atrocities against their own people and while we do not know how they would act if they managed to become the world power, based on the nature of its political system and its history I think it's a safe bet to say that the status quo would be better than having China as the only world power.
@@aidank8638 Great study, you have done your homework very well. I should say thanks to you for letting us know that building infrastructures is a much effective way to terrify other people than sending military force, dropping bombs and killing people. It is expensive, isn't it?
China loaned a country 1 trillion dollars - you know - the place where the video is created. Instead of worrying about Montenegro's long term financial stability, you guys should worry about your own at 21 trillion dollars debt.
Do you even know how treasury bond works? China can't just decide to call on those bond willy-nilly. Next time, learn to read beyond just the headline.
Because USA has a GDP of around 20 trillion dollars? It's fine. If US treasury bond is worthless, then you'd be damned sure the whole world economy has gone to shit.
Yes, and no. It is in OK shape, has been upgraded constantly, but what they didn't show you is Platije kanyon. It is most deadly road in our country, with over 1000 people died since its inauguration some 65 years ago. One of the problems is that drivers coming from Serbia are just too tired after 7-8 hours driving, so death toll is too high.
Notice they only focus on the negative possibilities. What if things turn out to be great in the next five years? I agree with the last gentleman. You have to take risk to be great.
So what I’m hearing is the western nations didn’t think there was enough people to exploit(economic opportunity) so therefore no loans and financing but China steps in for their own form of exploitation, while giving the Montenegro gov. what they asked for and now people are worried. Cool
People to exploit? Really the world bank has suspended a lot of debts in poor african countries to help the people living there, montenegro can’t pay the debt, do u expect someone to give you money when they know they cant pay u back? Europe doesn’t china does because they know they can’t pay the debt so they will take away part of the countries just like they did before
@@dh2429 suspended you really must be joking right was that before or after they had us remake our economies which then crashed our economies making repayment impossible, suspending a loan that cannot be paid because we followed your expert advice is not a courtesy its just watching your ass
Yes, they will come and collectively take a bath all at once, and ruin the pristinity of our rivers /s Please go home, grow up, and then comment. If you want to make a comment that some resources are going to get excavated on banks of the two rivers, you have to first learn about if there are any. And as for building lets say a dam, for morača river it was in the plans for at least 40 years long before Chinese became powerhouse that it is now, and as for Tara river, we stopped that possibility years ago, and our even neighbors in Bosnia had to honor that, not building dam that would submerge parts of Tara river.
I heard of this! I had to do a Foreign Policy paper and did Belarus. This project was something I have noticed in my own research, as China is constructing there as well. I do hope that it will add a lot of growth towards Europe and the world. I see an optimistic future for it. I hope these negative factors are considered when it's all said and done
in 2021, US started looking at rebuilding their infrastructure. How ironic this is. Not sure if Montenegro government has any plan to fund this highway down the road, as in many countries around the world including US and China, tolls are everywhere along the highway and road users are paying for the use, not general public.
As an American I give credit to China for making making such a wise long-term economic decision. This kind of slanted beneficial infrastructure investment is exactly what America should be doing. The Panama canal was a perfect example but should have been followed up with continued investments to move resources rapidly between North and South America. South America is a vastly under utilized resource pool that could benefit everyone in North and South America with increased resource sharing and leadership focused on quality of life improvement.
I guess the US wanted its backyard to be filled with POOR AND WEAK countries that's why they didn't invest much in any of those countries. US thinks that it can be the world's superpower indefinitely. Arrogance at its best.
Yeah it will give positive outcome for China. Putting smaller countries under debt trap and taking hold of their land, then sell all the low quality Chinese products to these nations. Definitely it will be a positive outcome for China
Ye but its in USD and we use the EUR. So, any fluctuation is unpredictable. And, along with that, with any disputes or re-programmes, the authority is with the Chinese legal system and not of MNE :(
@@MyVanir well, I voted Trump and I don't really see that. How do you expect the Chinese to react when journalists like to present them as some evil conquerors. It reminds me of how the US main stream media attacked Trump. Right now I just see them building stuff so they have a base for this trade route plan. Aggressive, yes, but Chinese aren't known to be subtle anyway.
@@sihotech Except the Chinese have been "evil conquerors" since, say it with me, ancient times. Korea and Vietnam (along with the rest of Indochina) in particular have a history of being forced to pay tribute under threat of invasion. Not to mention Tibet. The CCP is not some friendly and charitable group out to help their fellow man.
@@akshatshah3717 Chinese government want to increase relevant countries economies, then, Chinese people can export its overcapacity. Honestly, I agree with your words, but Chinese people only concern about how to earn money with friendly environment. Other things like religious, ideology. race, colour. etc. doesn't any matter
@@莱克多巴蛙南菠完 Of course Chinese people care and probably want to help poorer nations but the reality is that the government and looking for opportunities to subdue and control strategic locations such as with it's String of Pearls defense plan.
@@akshatshah3717 And USA has over 600 overseas military locations, and China, with only one overseas military base and the second largest economy, is asking for too much???
Im very proud of my country is helping other small nation to reach better future.and as the next generation.this is the foundation for us to move more forward.
The Chinese construction companies are amazing. It's seems like Vice is trying to say that there's something wrong with China offering to give these countries loans and build them roads... China is doing absolutely nothing wrong, if a country takes on too much debt they have nobody to blame but themselves and they should suffer the consequences.
The world both political & physical, is changing and the change is positive. The colonial era is behind us and wars might become history. The west will have to change its attitude towards China. Italy has joined B&RI and Germany is also thinking on these lines. There may be hard feelings for some, but overall the world will be a better place in future, with less poverty, persecution and a shared future.
You just have a nice Chinese dream, only thing is it is illusive, the truth is CCP has an evil plan to conquer the world and take down US, once the regime is powerful enough, it will distort the world just as it does to China. I know CCP better than you because I am a Chinese suffering from the regime especially now with coronavirus
@@ThePeanutButterCup13 China, and all of the old world have their rivals and enemies in terms of ethnicity, leading to these genocides in the West. Who's to say other undesired peoples will get genocided too? I personally know America's plans and stuff like that, but the good part is that they have no real rival in terms like Albanians and Serbs, or Croats and Serbs, which can lead to genocides. They are a colony, isolated from the world until recently, meaning it only looks at the world as a piggy bank, China wants ethnic supremacy, America wants the 💸💸💸 Pick your poison.
When a poor country wants to engage in construction, only China is willing to help you, and those shameless bystanders will make irresponsible remarks.
I've been to Montenegro and it's the most beautiful country in Europe in my opinion. The landscapes are astounding but the prices are pretty high, even higher in some central europe countries because of the tourists and the gdp is lower. But the roads are really hard to build, the terrain is mountainous and difficult. If some sort of amatour was driving the bus i travelled in there would be a high chance I'd been dead. It really sometimes looks like one wrong turn can mean falling down the hill with a whole bus
Some what patronising to doubt Montenegro's ability to repay the loan for their highway. What will Montenegros' place be without a highway in the 21st century?
Edwina Lee The thing is Montenegro doesnt really need a highway and it clearly cant afford it. They are not in the EU so they are not getting bailed out either. Its a very risky plan and that money could have been spent better on education and healthcare.
The fear of failure is what keeps the poor poor. Montenegro is facing a depopulation of the young to other countries. This poverty spiral has got to be stopped. Consider what may happen if it defaults on China's low interest loan repayment. Sri Lanka did that, for example. They leased out a small bit of land for 99 years for China to develop that into a port. Reminds me of Hong Kong & Singapore, and look at what happened when enterprising investment works its magic.
Abiril the Archer, The consequence of Montenegro defaulting is not the same. It has plenty of scenic landscape, a small population, & it sits in the Belt & Road corridors. So there is plenty of potential for foreign investment into the country.
Edwina Lee you know what has scenic locations that doesn't require a ridiculous amount of investment since it's been built up for hundreds of years? Croatia. Being a tourist trap is not a good economic model, it is one that is accepted if no alternative is found. Being on the belt and road corridors is not potential for foreign investment as we've seen, it's potential for getting loans you cannot afford for projects you cannot afford that China benefits from. And if it fails then you have to give up your most valuable asset to China. Montenegro doesn't have this luxury, they're in Europe, NATO will not allow China into its sphere of influence. Every Eastern European country is facing depopulation of young people, but guess where it has slowed the most, Poland. Where they've followed the EU orders and regulations because they had a spine about where they wanted their prosperity to come from. Hong Kong and Singapore were both touted as terrible things so long as the people who built them up controlled them, and they were useful because the locals were forced to give away their things through these channels. I wouldn't exactly call the period of colonization great for the people who lived there. This literally looks like a modern day version of the Unequal Treaties, oh and of course they have to vote on China lines and hold China values.
that little bridge is part of building the big one. It is a temporary bridge in order for the Chinese workers to be able to transfer equipment or whatever from one side of the river, to another.
Imagine you can make unique handcrafted product. Now with basic infrastructure you can post your product online and ship it across the globe in less than 4 days. Your living cost is less than 1 usd a day, but your product earns you 100 usd a piece. That's how you conquer poverty in modern day and why infrastructure is important.
China still hasn't developped to its fullest but it's already helping others because they know the principle "In order to rise above others, you first need to make them bigger. What you do for others will have an echo on yourself". They are aware...they are VERY aware of what should be done.
Communism has Given China Twice As Much What Democracy has Given to India , Period. Loved the Progress that China has Made in d Past 20 years.. We are Still 20 years Behind You Guys & Still Stuck in Hindu-Muslim Politics.
Ask yourself this question: When was the last time China involve themselves in other nations business? And how many nations did USA intervene in the last year alone? ALOT. Why does USA always feel like they need to get involve in everyone’s business? They always make other nation look bad in the media if they don’t agree with their ways. This deal is between China and Montenegro. Clearly Montenegro AGREED to the deal, that’s THEIR business. Why US trying to get involve? Same with China’s deal with Africa or Pakistan.
I live here and don't see any of that in Xinjiang. If you are too poor to travel, I can send you some money or work for me. I have lots of work for you. @@official.rajarshidutta
So EU doesn't want to invest in Montenegro and it doesn't want other countries to invest in Montenegro? Wtf is this logic? Yes, Montenegro might be bankrupt because of this project, but if they don't take this risk, they will be poor forever. Sometimes, you have to fight against the destiny,
2% annual is nothing. Adjust it to inflation after a 5 years period of grace, it's like you're getting the loan interest free. Congrats to both parties for pulling the trigger. I wish both Montenegro and China a lot of success. Rather take the risk than die a slow death.
Is the return on investment on this project higher than 2% interest? After servicing debt, does this country have enough fund to do sustainable reinvestments? If yes, then go for it. If not, then why did this government sign onto this deal anyway? what VICE is doing is called "due diligence", as covered in almost every Business 101 class.
If you havent noticed the EU has massive problems with countries taking risks with debt (Greece, Italy, Portugal) are all swimming in debt. Therefore EU has very strict debt requirements.
@@rohanr.9714 worst is they make it look like a good thing..atleast America can be called out for bombing or killing, China clevrly uses contracts designed on their own terms to tactfully gain economic and ultimately strategic advantage..I m sure they are going to build their foreign military bases in these seized lands.. and the host country would not be able to stop them
It's not clickbait, this is just their capacity. There was so much wrong and disinformation in this video, i don't believe it was intentional, they really are this ignorant and stupid. The map they showed was wrong, the impression that they gave that central and east europe is poor is also absurd, given that the EU countries are rich and democratic.
You do realize Northern and Southern European countries are in the EU too, right. Montenegro has been making a lot of progress lately, along with the other western Balkan states, i am sure they'll get in eventually.
that is why the west is crumbling, slowly but surly. it is always arguing, complaining. the west has lost its old days "can do it" spirit and aspiration...
The VIce MUST go and study basic Economics on how to make Wealth for a Nation, without road and highway is bound to future doom on Economic Prospect of the Nation. Are you up to something?
You must go study basic economics if you think taking on a project that is worth 70% of your country and having 70% of the economical development value go to another country is smart by any means. Particularly if its built in such a rush the standards will be lower and there won't even be much use for the highway at least for a couple years by when it will deteriorate and "need refreshing." a 3 billion dollar loan with a 2 percent interest rate in a country that has a 4 billion dollar gdp and a 1 percent growth rate hmmmm sounds like a great idea hmmmm Let's say that Montenegro simply chooses to not pay off the loan, the loan will be worth more than the country, that is they will be insolvent, aka BANKRUPT in only 29 years. Assuming growth stays steady. If the highway is built lets say economic growth jumps to 2 percent as well, but they also have to pay back loans so they are stuck in an eternal debt-trap again, not including maintenance on the road. Oh and they're not the ones building the road so you can bet your ass they're not gonna be the ones to maintain it either!
Well there’s always a risk of doing something new. Just like what he said, if you don’t want to risk something then just do nothing. Also nothing will happen to you later.
To quote Theodore Roosevelt: “It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.” Criticism is cheap. Anybody can criticize. Creating something of value is significantly more difficult. I’d think twice before insulting somebody on something you haven’t attempted to do yourself.
In my opinion this highway can have a great significance to the country tourism and exports, as long as they have a decent sea port. Serbia would also benefit a lot, because they are a landlocked country
World bank would not make the loans to grow Montenegro. Why? Because of default risk? I call that BS. There's alot of needs around the world but if they grow out of their financial troubles, they won't need to pay higher loan rates.
Didn't know Chinese are Saints. What, you want to get a free money, instead of Cheap Loan? LMAO ... How about give me 2 Billion dollars free money next time LMAO Of course, it has benefit for both side.
I mean it's clearly a debt trap with those stipulations of allowing the seizing of territory on default. However, the people of Montenegro are feeling the impact of a poor economy and are desperate to take a risk
@Islamist Reactionary إرتجاج الإسلامي at least they have a port . A world class port. They can export and imports the products. The problems is Sri Lankan doesn't know business . Simple
Lechiffresix six You’re really comparing Montenegro to Albania? Do you realize that the sallary and GPD almost doubled since their Indepedence? It’s on their way to surpass Hungary, but you can stay ignorant too, I don’t mind. 😊
And average wage in the Balkans is lower than most cities in China. I’ve been to Bulgaria and what I find is people don’t make much money or have much, but what they do have they spend on nice things on themselves. They know how to stay happy and that’s important
Since 2012, China has made $15 billion worth of infrastructure commitments across central and eastern Europe
WATCH next on China HERE: bit.ly/2sXbXf3
@0:11 India is not part of the 1 belt 1 road.
VICE News what glasses is that guy wearing
the link doesn't link to a video, it does not work.
Shit good luck montenegro, thats why you buy bitcoin 😜
Such a biased report. It's a shame.
European banks and the IMF refused to give Montenegro a loan, then criticized them for taking the only loan they could get. Good job IMF, really looking out for this small country.
What will be the outcome of investing in a small poor country like Montenegro
@@mclarenm1 help build up it's people and it's economy allow them to raise their GDP and household income so they don't need loans anymore. Simple enough Biden?
@@mclarenm1 People will actually live a good life? Or do you think it's only the Americans and Western Europeans that own the right to that?
The problem with this highway is that’s it’s a very expensive road anywhere in Europe and the economic output could be better put some where else such as the more advance countries of Europe. The road only cuts a trip in half 4 hours to 2 hours.
@@chandra6063 the EU is not a bank, it's a union of millions of people. Some member states have been refused a loan because not trustworthy enough to pay it back. Europe has suffered a lot under the economic crisis of 2008 and now the corona virus which results will be suffered for at least 2 decades. Tell me, why they should help some foreign country at this time. Why would they risk the wellbeing of it's own population for some foreign nation, considering there are already some EU nations who are fairly poor amd would need the money as well?
No matter how terrible the loan is, it is definitely better than bombs...
loan shaped bombs bro
@@vodkaboy Let’s keep building those bombs then! Let your children be the front liners to experience it.
@@vodkaboy It’s a business! When was the last time you borrow money from the bank and you didn’t have to pay back?! Don’t they just take your collateral or home for that matter? China building infrastructure, schools, highway, hospitals and business cooperation is better than the West especially the countries that have colonized sovereign nations which has done most of the damage. Building military and engaging with wars. Invading and looting other countries and sanctioning them. How is that fair? Let’s not even talk about those western powers enslaving ppl just to benefit their own cause. The West should reflect themselves of their wrong doings over the past several centuries!
Yeah America Just Bom other Country Just Like Panama, It's Pathetic
and so much better than a poke in the eye with a sharp stick, until the bankers come to collect
Well.... US came to Iraq and wrecked all the highways but they did not forget to confiscate the oil wells and gave them to their firms .
I see no problem with Chinese loans with 2% interest.
LOL! The US didn't take any Iraqi oil you ignorant, uneducated swine.
@@HTHAMMACK1 ''To this end, as Whitehall documents obtained by the Independent show, the US and British sought to privatise Iraqi oil production with a view to allow foreign companies to takeover. ''
''Before the 2003 invasion, Iraq's domestic oil industry was fully nationalized and closed to Western oil companies. A decade of war later, it is largely privatized and utterly dominated by foreign firms.
From ExxonMobil and Chevron to BP and Shell, the West's largest oil companies have set up shop in Iraq. ''
@RoachTV 6 Loan with interest of 2% need to be justified?
福圆 even 100% interest is nothing tobe justified.... as long as both parties sign the contract voluntarily, without the use of violence that break international law
@Patrick Riarchy In January 2010, ExxonMobil Iraq Limited (EMIL), an affiliate of Exxon Mobil Corporation, signed an agreement with the South Oil Company of the Iraq Ministry of Oil to rehabilitate and redevelop the West Qurna I field in southern Iraq.
On September 20, 2013, the first well had been successfully opened and production restarted at Majnoon. Shell Iraq Petroleum Development (SIPD) won the contract to develop the Majnoon oilfield on behalf of the Iraqi Government’s Southern Oil Company (SOC) in 2009.
Majnoon is one of the areas in the world most heavily contaminated with explosive remnants of war. The first stage of field development has involved clearing the area. During its construction phase the project has cleared over 22 square kilometres of land of explosives.
Montenegro is honestly a hidden gem. Visited this year while road tripping Eastern Europe and we were astounded by the high quality accommodations with amazing ocean views for extremely cheap prices. I'm talking around 100 Euros for a 4 bedroom apartment. Anyways my family plans to invest in Montenegro's tourism sector before it gets eaten up. I absolutely love Montenegro
Wish you success
"This poor European country"? Couldn't you just name Montenegro?
Android Phone it offers context, not many people know where Montenegro is.
It's not really hard to google it, isn't it? If you have half a brain.
Marinko Marinko Not worth of my time or effort or care enough, that's why.
Marinko Marinko Nobody want to keep googling random shit each time they find something new that is going to be worthless or useless in real world. Many people watch thousand of youtube video per day or week so imagine if you had to research each topic and thing you find.
Vysair idk knowing the countries of the world is pretty important, so that being a problem is a bit pathetic
I am puzzled by all the negative comments. Maybe China came to Montenegro with ulterior motives, but 2% interest rate is so low that it could easily be drown out by the inflation. I am sure that Montenegro would have easily accept a better offer if there is any. I think Montenegro will be a better place because of the project.
because this is an anti China propaganda made by the World Bank a.k.a Bank of America. go figure, even the interest rates of any western bank on civilians is higher than this project. Epic.
@Malcolm L You mean America and not China, America has been mining gold and ores from South East Asia with impunity while funding warlords, oh and who has more than 800 military bases all over the world holding their host state hostage? take a guess.
@@kenyu9019 try to think from two perspectives here for once? Propaganda? Do you even know what propaganda is?
China has a very department explicitly called the Propaganda Department. They ban most media and influence from the rest of the world, control the whole internet and whitewash their own history. Their people cant even access YT.
They're still pretty much communist at heart. They don't care about humanity, they only care about progress.
But hey, you don't care since you can only look through hatred through the US side. Somehow you can't even talk about anything China, because you DON'T KNOW China. The country ruled by the same party that killed 70 million of its own people but 'kay, USA is worse apparently.
It's not even an Alaskan bridge to nowhere.
The thing I don't understand is that if someone is aware of the loan and the interest rate and still willing to take it for, wouldn't it be their own choice? It's not like China forced the offer.
Risk can not guarantee you success, yet no risk guarantee you no sucess
Subversive doing nothing is not an option
That's why it's called risk.
true
they believe(aka.gamble) in their next generation..
Better than bombing, genocide, occupying, looting third world nations & calling it democracy.
The truth is : When many of the developing countries want to start to build infrastructure, often the IMF is not willing to lend the money to them. And very often when those countries invite different countries for bidding in their infrastructure projects, the quotes from Japan, US, Germany and the like are way much higher than China. If some genius can give a solution to the leaders of those developing countries how to "escape" from this "trap" other than asking them to give up the dream to get any decent infrastructure in place for their country and continue to stay under-developed for decades or even centuries, I'm sure the leaders are more than happy to know!
That's just a fact of life... The big stay big & the small will stay small, due to the big. A main reason government, in general, was brought upon.
@Akatsuki kudos to India, responsible government should seriously include infrastructure building, for the good of the people.
However in many countries, it was not planned/done, because infra building is such a large project, and will easily taking far too long for politicians to show result within one term, or two if they are lucky.
Things like debt cancellation will help
I can't say for other countries, but in the case of African countries with respect to France, France would like them to remain the current status, ie poor and undeveloped. Because it's only in this way that France is able to maintain the standard of living of the French people.
As Jacques Chirac (or François Mitterrand? Feel free to correct me) has said, "Without the Africa, France would have dropped to become 3rd world country" (or something like that).
More Content like this Vice
I thought this was vox
poser sh!t most of vice s stuff is propaganda.
You are better off not watching them.
Why trust me? Idk
This is interesting tho
Presiqn Qnkov lol you okay dude? You took a 180 there
All their contents like this
The biggest risk of all is to not take any.
The world bank believes Montenegro will have problem when it's time to pay their debt, they'd rather Montenegro not take any risk and stay poor, and there will be no problem. Good argument World Bank.
Well in fairness, considering the stakes are that China could take some of their territory if they were to default, many would consider it too high risk to be worth it
The point is that it's a highway to nowhere. Even the government official seems to only justify the need to build a highway because "it's the 21st century". The documentary is too short to explain the details here; but I would suggest that you google the term "debt-trap diplomacy"
@@cpufreak101
yeah, a 40 years loan with 2% interests, still China was screamed at "Greedy". Says by who won't even reach out the hand to help.
@@zsydeepsky2 and considering how Montenegro is a relatively poor country, even that may be risky
@@cpufreak101
there are always risks in opportunities. even China itself struggled when it first accepted some big projects, just like this Montenegro here, a sudden 80% plus foreign debt.
debt is not the most terrible thing, the most terrible thing is that you can't even get a debt to kick off your development progress.
you know only 40 years ago we China was as poor as most African nations? now we are screamed at for "buying up" or "colonizing" poor nations.
hmmm.
by the way, back then, the nation who lent us the money was Japan, the nation that invaded us and dragged the entire nation into the disaster, we had much more problems for that offer other than just debt, but our leaders took that money and kicked off the economy.
and, the most interesting thing is, Japan also experienced all that, they started with a nation that was boomed to nothing, then they accepted the debt from the United States.
That's just how economies develop.
“China can even seize parts of Montenegro’s territory”
Wait... _WHAT?!_
Most likely a 100 year lease on a port or something like that. They did just that when Sri Lanka defaulted on a loan
This is a normal thing to happen when countries give another country a loan. This way, they will 100% payback.
@@wguid To me, it looks like Sri Lanka is still the 'winner' even if they defaulted. Because they still get a port built in their country. The only difference is locals have to pay more to use the port. But that is still better than no port at all.
@@ZhaoxinXue you're forgetting the possible military use of the port by china. It will bring its own set of problems
@@wguid yes I agree, that's an important part of the political risk that Sri Lanka has to calculate. But economically speaking, Sri Lanka is the 'winner' in the most part.
And here in California it takes a year to build a bridge thats less than 500ft long 😒
Haha yup, it’s feels like the 5 freeway in Southern California has been under construction since 1855😂 And it’s only and expansion from OC to LA.
The US has safety standards and codes to follow so the thing doesn't collapse. China and non-EU members have few standards so things go quicker with less red tape, but on the flip side you don't know if the bridge will collapse in 50 years.
That's so true. Some highway projects sit for 30 years here in the US because the government fights the people and companies or they can't get funding and try to buy up land from everyone on the route, etc. Meanwhile, Korea, China, etc. can build whole highways of 20 or 30 miles in just a few years. When I lived in Germany (10 years after reunification) in the east, whole highways would practically just... appear! To the point the map you bought 2 years ago is missing roads all over the place. Workers actually work 24/7 instead of these stupid union workers who work maybe 9 to 5 with tons of breaks and people just lingering and fooling around... 8 hours a day, if even that, and have all these protections. THAT is what slows down progress immensely in the states compared to other newly-developed nations like in Asia. There are pros and cons to all of that though, of course, such as worker pay issues, but in development as a whole, things like union rules drastically cut back progress in the US. Live overseas and see development and progress in action and it's hard to support the way the US *tries* to develop its infrastructure, even when adding worker's rights, pay, etc. into the equation.
+Scott Byer ruclips.net/video/1Cej3j1QNps/видео.html
I think that the pedestrian bridge collapse (coincidentally a 5-minute walk from my apartment actually) is a poor example for safety standards as it doesn't carry auto traffic. The bridge was more of a private contract thing for the university. Even where there are standards, there is corruption that allows for cutting corners. You can see that in any government sector (becoming very commonplace in the US nowadays actually). The Wisconsin DNR, which is supposed to protect the environment, recently gave a permit for a company to destroy wetlands to build a mine. They hadn't even followed the procedure to study the impact as required by their own laws and gave the permit anyway. Parts of it were recently blocked by the courts because of public outrage on it. Then of course, also environment-related, we have the US EPA run by someone who has dedicated his life to destroying the agency that he himself now runs. You could only imagine that such corruption is prevalent in other agencies, such as ones that control transportation standards too. But it's true... some countries have fewer safety standards. But just because the US has better standards doesn't mean they are adequately followed.
Without infrastructure poor countries remain in a Poverty Trap of stagnation.
Infrastructure is the essential platform for countries to grow and modernize
LOL, but keeping corrupted government and giving them more wealth will surely help grow and modernize, right? The very fact that these countries will default soon and those loan will have to be pay back somehow.
Cuong Nguyen why are butthurt about it ?? Didn’t China also help your viet people built bridge and road too ?? And what are you now ?? Still a poor dog on the street ??
@@chhaylong8872 LOL, China "HELPED" so much that to VETOED Vietnam from joining WTO for 7 years. Basically what China accused the West did to China, China turned around and did the same to Vietnam.
That actions alone slow down Vietnam's economy considerably and then the flood of FAKE and DANGEROUS products, destroy many sectors in Vietnam.
The poor dog here is Chinese who think they "HELPED" by screwing neighbor countries first.
@@chhaylong8872 China: Spies, Lies and Blackmail | 101 East |中国：间谍，谎言和勒索| 101东
ruclips.net/video/UrTln_0Xw4w/видео.html
I agree 100 % . And the loans made by construction is paid by export taxes .
I'm a farmer and I export. I know this
Bring all the roads
You know its an american production when they subtitle a perfectly understandable guy with a foreign accent speaking english
@RIDIN’ HIGH there ARE subtitles and it looks like particularly you, need them.
[Speaking British]
Nattasit W. You can’t speak British
I couldn't really get him and I'm Indian. They make this for everyone and I'm pretty sure this is headedby a far more educated and well informed than a ramdom youtube commenter...just because you can understand it doesn't mean everyone in the world can xD
It's the same with german documentaries but old german guys with a hardly understandable dialect doesn't get translated
As a Romanian I can confirm we NEED that road
Good luck with that. Check out the status of people's in south pacific once China moves in. No jobs as China brings its own workers and wage rates.
So America builds military bases, while China builds highways? Interesting
Master Debater China is building many military bases.
China has used building projects exactly like this in Sri Lanka, Pakistan, Djibouti, and Cambodia so far to "loan" an absurd amount of money which the country can't take back and then China establishes a military base there. America feeds starving people in Africa, North Korea, Afghanistan, and South America
I hope China builds more military bases around the world, go China
Those highways and ports will transport goods first, military later.
No China builds debt traps
They've sold highways to Brockway, Ogdenville, and North Haverbrook, and boy it put them on the map!
Monorail!
ocelotecpatl monorailllllllllll
Lol
monorail !
Is there a chance the highway could bend?
China has been expanding their own roads in rural areas and through that, has increased export and allowed the residents to become wealthier.
This is a similar situation. The government must make the most of it.
"The only way to avoid the risk is to do nothing" I couldn't agree more!
I wonder what would have been the reaction if the road was being built by a European or American country? So, China is having it's fling, as so many countries have done in the past, let it be, if the work done is for the benefit of the people of the country then we must accept that it is the business of the country and China. An end to the interfering.
I don't see anything wrong with Chinese🇨🇳 investment. They are helping countries with their infrastructures and in the process making new allies.
No. Nothing is for free. Why they picked Africa? Why not their neighbours' countries?! It is the debt trap.
@@monsterrr1999
have you seen recent African nations' GDP growth rate? especially the nations that China invested heavily, for example, Ethiopia?
I remember just 15 years ago, the western media was still portraiting it as a "hopeless continent".
yeah, the debt trap which brings decades of economic booming, very funny.
@@zsydeepsky2 I stand corrected what I said. Nothing is for free. In all honesty, we did not need anyone help, it would be better if everyone leave us alone in the first place. We wouldn't have been that poor if it wasn't for the west colonisation and we never ask for your help, your people keep pushing it down in people's throat about how good you are and bla bla bla. You really think we are that stupid? You guys are basically modern colonists because you are pretending to help but you knew you would get fucking rich off us and give less in the return saying you saved us all from the "poverty" by building the road. Get the hell out of here. Go and help your neighbours and stop going to somewhere really far, instead.
@@monsterrr1999
We never say we "saved" you, sorry, in China, our motto is simple: "One can only be helped by itself"
you are not our responsibility, we have no intention to take care of you. We have our goals, we need minerals for our industry, we need customers for our products, we never hide it. Surely it would be nice if African nations can prosper and be able to be a decent customer marketplace along the process so we would like to do something for you, in exchange for a better outcome. This is how capitalism and the free market works, for hundreds of years.
So we came to Africa with business offers, what we did in our best is that we treated you as equal business partners, we don't force, we don't bomb, we ask for permission, for contracts, then we do the business, it's that pure and simple.
You can always say no, that's always your rightful choice. if your leader said no, of course, we will leave you alone.
Yet your leaders said yes because, for hundreds of years, we might be the first big player ever offered the deal with that equality & respect.
So yeah, you can always say no, if you can use your vote power in the next election, you can always support the politicians that will decline our offer, the choices are always up to you people.
after all, we only help one who helps itself.
@@monsterrr1999 It's not a debt trap. It's a win-win for everyone. African countries will experience tremendous growth from the infrastructure projects China started.
0:11 Greece is like: really, bro ?
ikr
Thanks to Constantinople
Greece has more money than China, per capita. I’m just sayin’.
@@SomeoneFromBeijing nah man, alls i am saying is because Constantinople shares a border with bulgaria, so need to move through greece
Btw Greece is is in a economic shitstorm with economic mismanagement, influx of radical migrants etc
And p.s, I absolutely hate the whole idea of one belt one road
Gaming Nation Trust me many Chinese doesn’t like that idea either. It’s just another creative way for the corrupt regime to spend our tax money instead of investing in our welfare. We’re now in a Coronavirus crisis and the government is asking us to donate.
I found the interviewer to be fairly patronising towards the Montenegrin people. So what if the world bank says this or that? The world bank have their own agenda’s in the world. And he is acting like this loan could break the country yet the interest is only 2%. In 40 years, China will be lucky to even get any return on that loan. I’ve visited Montenegro many times now and I can tell you it’s a country nowhere near it’s potential. The people, the landscape, the talent: it’s all there waiting for an opportunity. And as for this idea that the road should have been built when the economy was better- well it’s too late for that. So what better time to invest than “NOW”. Why wait? Also, when things are tough, it’s the right time to invest. To change things up. The world is changing but businesses and countries need to change with it. It’s no good waiting around. Montenegro are taking a risk and it might work out very well for their people. But never forget that doing nothing is also a risk and I would imagine that doing nothing would be the bigger risk in this scenario.
Finally someone sane
rabrandom ...imagine yourself as a bank.Would you throw away money if you’re not sure whether you will get it back?The return has to be something worth your while!
Absolutely.There is nothing risk free in today's world.
And this highway goes where? From the coast to Serbia. Another shithole. I know, I live there.
majda vojnikovic I think that's why China is also investing in Serbia. If you just sit there and keep complaining, shitholes remain shitholes forever, until someone stands up and actually does something to make a change.
so, the chinese can build a one billion dollar highway in ONE year? Thats crazy
the workers were there for at least 2 years right?
It’s only 25miles.
Chinese worker are efficient. But we must know the construction machines from Caterpillar or Siemens, it has help the works doing a lot.
Chinese workers even work during the weekends. If you count all the weekends in 1 year, it's around 96 extra days, or 3 extra months to get the job done.
Have you seen the conditions they live nothing to do except work, it looks just about a standard FEMA camp
I don't see why vice is bothered so much. It's just 2percent interest. If you count the inflation it is almost interest free. I bet world bank doesn't have balls to do this project.
2Cheek 2% is actually a prime rate in Canada. If that is a poor country, it is like a person with bad credit. It is not how much interest he pay, it is he can't get a loan at all. When you want to kick start your economic, you blow cash on infrastructure, when you have too much cash and don't know what to do about it? Put them on infrastructure... It is always better to have the infrastructure first the. Figure out how to fully utilize than when you try to ship something, but there is no way to get it out.
But then if China did for free as a gift then I bet you will also say it's a trap :3
Montenegro GDP - $4 Billion. Growth Rate less than 1%. 2% is very high interest rate for Montenegro. If you feel it is just 2% then will you be ready to pay the interest. How it is interest free if inflation is counted? can you explain?
bas kir because inflation devalues the money by about 2 percent annually historically
Johnny Dominguez ask yourself, how long it is going to take you finish a 100km highway in your country with your contractors? 10 years? maybe 20? in china only takes less than a year.
Without China, these 'poor' countries would never receive such investments. Risk comes with any investment. But without taking any risk, there would be no progress at all.
Sure bet there was a lot of progress when Sri Lanka couldn't pay up after "generous" investments and China seized one of their major ports.
@@0inzrt China is doing business, making dollars, who da fk cares about political in those small ass countries.
China literally knows the counties of the Belt and Road cannot pay off their loans and literally just seizes major places. For instance, Sri Lankan major port
@J Doe Uh, I don't think it's that bad in need for an emphasis like that
@@0inzrt If China didnt invest, that port would still be nothing. From nothing to nothing. At least something is build this way.
To become rich, build road. Vice is short sight
To get rich is glorious 致富光荣 - Deng Xiaoping
World Bank : Stay poor , We won't give you any loan.
but EU or IMF will not the risk. China know the risk ad help african and poor eastearn europe country, with no political deal. and the goverment guy have mention they want to join EU with this road to bring the economy in and out for his country.
I'm pretty sure this money invested in education would have a much bigger ROI.
I am sure they have free education , have universities , But what can Education do without applying it on Business ?
Y2Kvids right and without a highway, business fails long term. They need it for transporting goods and tourism. Air can't be used for every single instance.
China is not giving them a loan. China is giving itself a loan. To buy a highway in a EU country.
wanna get rich? BUILD ROADS
That's china's motto since 1980's
yeah，absolutely right！“要想富，先修路”
哇，这都懂，厉害厉害
少生孩子，多种树
KILL BABIES; ESPECIALLY GIRLS.
"The Chinese put their money on the table, the Americans just talk" Hun Sen - Prime Minister of Cambodia.
And that's really why China is doing so well in third world countries. EU/US investers and banks are all about talking about the individual risks that an investment would pose to their position. China on the other hand has a collective grand plan and the means and knowledge to implement it, this is why they are able to do these kinds of projects and it's not very different from what the US has done in the past.
Hun Sen is a low life thug. The most stupid prime minister in the world.
Chinese put money on the table easily because they don't aim to money and that my friend is when you should worry.
Where is that money now? They have caused trillions of dollars worth of damage throughout the world because they arrested doctors who were warning people about the virus in December, only for those same doctors to die from the very virus they were trying to protect the world from. You have been fed propaganda like many others and now the world is paying for it while China hoards all of the medical supplies and sells them at a massive surcharge, while “donating” faulty ones.
In 2004 while staying in Ethiopia, i recall huge infrastructure initiatives. One moment that stands out was an army of Chinese workers (1k+) walking down a highway one morning to their jobs and me thinking to myself this was the beginning of a global shift.
@0:35 vice says "China invest 15 billion in Central Europe, most of the time that money is not a gift, but a loan"
Noshit vice, who in the world would give 15 billion for nothing? Difference is China is amorously willing to lend these small countries and help them without lots of preconditions, while world bank and co wouldn't. Everyone only cares when China does it, but the West loans money with even worse conditions that's just normal eh?
Well it's a new world order, and China is gonna be in the top position soon. Economically that is, while the US can continue to play world police and make endless enemies and waste endless monies while China will quietly continue to benefit from it as it has been doing for the last 3 decades now. China will even lend money to the US to continue its ways! Haha China is smart, the US doesn't even seem to know or care about its position or reputation in the world
The US gives away billions in aid every year.
@@TheMasterhomaster yes but most of these billions are spent on tied food aid
@W.A M.P It's only when you can't find any facts to defend yourself that you start badmouthing and call everything that people say in favour of China as propaganda. Poor lil brainwashed westerner. 0
See that’s why I say some westerners always got stuck in the quarrel of ideology and become deficient in even a tiny bit of logic. What do China’s economic growth and foreign investments have to do with Tiananmen incident? Does America, Britain, Germany, Japan or any Capitalist state holds perfect records of human rights? What’s so different about China then? Have you even been to China and understood the drastic change happened there over the past 3 decades? Or are all the materials upon which you portrayed China in your mind come from western media? You can always find ways to mistrust someone if you want. Btw do you really know what’s happened on Tiananmen Square? If everything you knew was acquired from western media then I can assure you it’s highly biased. One thing pathetic about westerners is that they are being fed with propaganda by their media everyday and they don’t even realise, while Chinese people at least do. Meanwhile I’m not defending for the communist party and I do no think China is as liberal as many western countries at the moment but you attributing everything China has achieved to stealing is just unacceptable and I don’t know where you got that arrogance from. You act like you have a critical mind and know China very well but I assume you can’t even read any Chinese.
They will suspect it even you give them 15 billion dollars as a gift.
crazy finish a bridge like that in year where I live it takes them forever to finish any type of highway construction
J Howard in Chicago it takes two years to finish a 20 mile highway 🤦🏽♂️
The Chinese have an incredible work ethic.
Lets all go to MONTENEGRO on vacation guys !!! Its so beautifull !
No
@@Maroon33 well its beautiful tho rather than just looking at a skyline everyday
Please don't, the last thing people need is multiculturalism that will destroy our unique culture
@@phoenixangel5073 he said visit for vacation, not immigrate there.
China offers better loans than imf and other development banks in the world because China has Top 4 of the largest banks in the world. Most critics talking about debt trap knows nothing about loans. Which bank gives loan for free ? Just name one.
Ryan Ho loan given to pakistan is at 8% 🤣 you didnt check that i think.....whereas imf or world vank gives at 3.5%
Ryan Ho loan given to pakistan is at 8% 🤣 you didnt check that i think.....whereas imf or world bank gives at 3.5%
@@Indialeadsoverall you didnt mention for how long the loan payback period is and what are the guarantees for the loans. I can get lesser loan interest if I spread my payback for 50 years compared to 20 years.
EU gives much better loans, and doesn't requires own working force on projects like china does, but:
1. they want to control process and results
2. They don't bribe notoriously corrupt eastern european politicians like china does.
First of all....things you are talking about are mostly not available in public and secondly china using its own labor force to build roads....well if pakistani are not allowed to make roads which you are capable of then how can you think of running energy projects such as electricity making which requires intelligence. If such things would have happened in india people would have revolted against the country.
4:15 - pretty much sums up the ignorance of Americans to foreign issues when it comes to China or in general
Now what. Has there been any growth? One belt one way road .. it seems to have failed just like Chinas housing markets .
I do feel sympathy for the Chinese workers and engineers working in remote countries and live so remotely in areas that people hardly access. I just felt that they must have a very strong will to work and live their life like that. And they probably didn't even get paid well. Just for this one reason, I would appreciate them.
Must be nice to get money from a foreign government. And when the foreign government defaults your local government just seizes all the territory.
This is economic warfare and China is fighting it hard to seize territory across the world.
I feel sympathy for the militias of the future that are going to have to fight against the Chinese, in their own countries, for their freedom.
They're willing to work overseas because the salary is better in China. So they can have enouth money when they go back to China
@@ericcartmann Like the mob in Hong Kong, you are worried about what is impossible to happen, but China’s investment is already happening.
They paid very well.Not only the money, privilege as well,which can decide their children future.
@@ericcartmann Hundred of countries around the world borrows money from China. Only Sri Lanka has defaulted. Investing in the future is always a risk. I do not see China doing anything wrong.
US has over 800 military bases in 70 countries. China will not be able to catch up even with the Belt and Road initiative.
US helps other countries by sending in bombs and army.
China helps other countries by sending in infrastructure engineers and construction workers.
X 10000 right
Chinese saying "The helper is more helpful, the loser is helpless"
The truth is the belt and road project is more of a geopolitical move to increase influence over the world. China needs to increase its influence if it intends on becoming a world power otherwise it's simply a country with a large export economy that is susceptible of losing the majority of its exports to other rising powers in Asia such as India or Indonesia. This combined with the fact that the U.S is becoming wary of China has caused China to see the need to develop its own sphere if it intends on becoming a world power. This is as the creation of their own sphere allows China to 1 receive more lucrative trade deals and 2 to give China the means to defend itself against a U.S economic attack. Therefore China seeing the incentives has created the belt and road just like how the USA currently uses its own vast network of military bases, intelligence networks and financial tools to maintain their own sphere. Now, how does one exactly create their own sphere? Well, China is attempting to create their own sphere by targeting 6 areas.
These are
1 Establishing suitable sea routes, railroads and highways to transport high volumes of goods to and from China.
2 Being able to defend these routes while also having the means to conduct an offensive attack. (This is less seen at the moment with railroads and highways but can be seen in China's actions in the south china sea and in Sri Lanka.)
3 Being able to influence foreign governments by only providing beneficial infrastructure loans if the government is friendly to them. (U.S.A does a similar thing with IMF however at least in IMF other countries can form coalitions to cause the same effect.)
4 Being able to essentially blackmail countries by providing them with critical infrastructure such as the internet so that China has the potential to deny these services in the case of diplomatic fallout.
5 Ensuring they have the necessary resources to allow their country to continue to operate extremely well by essentially financially/diplomatically annexing countries. This is most notably occurring in Africa. (It should be noted that both the Brittish and the USA are notorious for doing this as well.)
6 Establishing their own intelligence networks to further their country.
Now is this any worse or better than the current status quo with western powers? Well, some might argue that the Chinese have not been extensively flexing their military might to achieve their goals however considering their newfound hobby of constructing naval bases this may not be the case in 10 years time. 2 it should be noted that while the U.S is notorious for being evil the Chinese are also not saints either as seen in their actions supporting the Khmer rogue/pol pot during the Cambodian genocide. Finally, it should be noted that China, unlike the western powers, is an authoritarian regime that doesn't even pretend to be democratic. It has committed substantial atrocities against their own people and while we do not know how they would act if they managed to become the world power, based on the nature of its political system and its history I think it's a safe bet to say that the status quo would be better than having China as the only world power.
谢谢你告诉我天安门大屠杀。中国国家主席习近平对暗杀计划顺利进行吗?
@@aidank8638 Great study, you have done your homework very well. I should say thanks to you for letting us know that building infrastructures is a much effective way to terrify other people than sending military force, dropping bombs and killing people. It is expensive, isn't it?
China loaned a country 1 trillion dollars - you know - the place where the video is created.
Instead of worrying about Montenegro's long term financial stability, you guys should worry about your own at 21 trillion dollars debt.
Do you even know how treasury bond works? China can't just decide to call on those bond willy-nilly.
Next time, learn to read beyond just the headline.
It's got nothing to do with China. How financially stable is a country with 21 trillion debt?
Because USA has a GDP of around 20 trillion dollars? It's fine.
If US treasury bond is worthless, then you'd be damned sure the whole world economy has gone to shit.
ADHD identified - time to flee
The road on which they were driving looked nice
Yes, and no. It is in OK shape, has been upgraded constantly, but what they didn't show you is Platije kanyon. It is most deadly road in our country, with over 1000 people died since its inauguration some 65 years ago. One of the problems is that drivers coming from Serbia are just too tired after 7-8 hours driving, so death toll is too high.
requiemnk oh I didn't know about that road
Notice they only focus on the negative possibilities. What if things turn out to be great in the next five years? I agree with the last gentleman. You have to take risk to be great.
So what I’m hearing is the western nations didn’t think there was enough people to exploit(economic opportunity) so therefore no loans and financing but China steps in for their own form of exploitation, while giving the Montenegro gov. what they asked for and now people are worried. Cool
People to exploit? Really the world bank has suspended a lot of debts in poor african countries to help the people living there, montenegro can’t pay the debt, do u expect someone to give you money when they know they cant pay u back? Europe doesn’t china does because they know they can’t pay the debt so they will take away part of the countries just like they did before
cope harder commie
@@dh2429 suspended you really must be joking right was that before or after they had us remake our economies which then crashed our economies making repayment impossible, suspending a loan that cannot be paid because we followed your expert advice is not a courtesy its just watching your ass
All that truth and all I noticed was how pristine blue that river was
Yeah, Morača is OK, but google Tara River, it is even more pristine and, well you can go rafting if you like.
requiemnk Chinese will ruin it taking resources.
Yes, they will come and collectively take a bath all at once, and ruin the pristinity of our rivers /s Please go home, grow up, and then comment. If you want to make a comment that some resources are going to get excavated on banks of the two rivers, you have to first learn about if there are any. And as for building lets say a dam, for morača river it was in the plans for at least 40 years long before Chinese became powerhouse that it is now, and as for Tara river, we stopped that possibility years ago, and our even neighbors in Bosnia had to honor that, not building dam that would submerge parts of Tara river.
requiemnk , Hope it stays beautiful.
You guys are competing about rivers check out ours! google 'surigao enchanted river.
I heard of this! I had to do a Foreign Policy paper and did Belarus. This project was something I have noticed in my own research, as China is constructing there as well.
I do hope that it will add a lot of growth towards Europe and the world. I see an optimistic future for it. I hope these negative factors are considered when it's all said and done
in 2021, US started looking at rebuilding their infrastructure. How ironic this is.
Not sure if Montenegro government has any plan to fund this highway down the road, as in many countries around the world including US and China, tolls are everywhere along the highway and road users are paying for the use, not general public.
Obviously Vice reporters have never driven from Sofia to Varna in Bulgaria!
I want to ride a motorcycle down this highway
I felt the same, someday I will visit this place.
As an American I give credit to China for making making such a wise long-term economic decision. This kind of slanted beneficial infrastructure investment is exactly what America should be doing. The Panama canal was a perfect example but should have been followed up with continued investments to move resources rapidly between North and South America.
South America is a vastly under utilized resource pool that could benefit everyone in North and South America with increased resource sharing and leadership focused on quality of life improvement.
I guess the US wanted its backyard to be filled with POOR AND WEAK countries that's why they didn't invest much in any of those countries. US thinks that it can be the world's superpower indefinitely. Arrogance at its best.
Jack Tan .That's true and sad.
We love China !
Don’t deny the positive outcome of China’s investment.
Sell everything and eat batshit
@@antiidiottaskforce don't comment pls
What outcome? Debt?
@@user-yh7nf3qe8u i did bro..I had to
Yeah it will give positive outcome for China. Putting smaller countries under debt trap and taking hold of their land, then sell all the low quality Chinese products to these nations. Definitely it will be a positive outcome for China
Wow 2% in interest that is nothing it won’t even cover the inflation. Sign me up China😁
Ye but its in USD and we use the EUR. So, any fluctuation is unpredictable. And, along with that, with any disputes or re-programmes, the authority is with the Chinese legal system and not of MNE :(
yes but the amount is at billions, even 0.1% of a billion is still huge sum of money.
China grows stronger everyday!
Let's hope it ends up as a successful story for everyone who's involved.
DREAM ON !
Why I feel it smells like sour grapes?😛
Hahaha
噗，他们看得懂酸葡萄吗
@J Doe This comment section in general gives me depression. "Murica bad, China gud, orange man bad" is all I see.
@@MyVanir well, I voted Trump and I don't really see that. How do you expect the Chinese to react when journalists like to present them as some evil conquerors. It reminds me of how the US main stream media attacked Trump. Right now I just see them building stuff so they have a base for this trade route plan. Aggressive, yes, but Chinese aren't known to be subtle anyway.
@@sihotech Except the Chinese have been "evil conquerors" since, say it with me, ancient times. Korea and Vietnam (along with the rest of Indochina) in particular have a history of being forced to pay tribute under threat of invasion. Not to mention Tibet.
The CCP is not some friendly and charitable group out to help their fellow man.
don't worry.China know poverty feeling.only China know how rise up a poor country.
No country does something out of the goodness of it's heart. Remember that.
@@akshatshah3717 Chinese government want to increase relevant countries economies, then, Chinese people can export its overcapacity. Honestly, I agree with your words, but Chinese people only concern about how to earn money with friendly environment. Other things like religious, ideology. race, colour. etc. doesn't any matter
@@莱克多巴蛙南菠完 Of course Chinese people care and probably want to help poorer nations but the reality is that the government and looking for opportunities to subdue and control strategic locations such as with it's String of Pearls defense plan.
@@akshatshah3717 totally agree with you bro
@@akshatshah3717 And USA has over 600 overseas military locations, and China, with only one overseas military base and the second largest economy, is asking for too much???
Im very proud of my country is helping other small nation to reach better future.and as the next generation.this is the foundation for us to move more forward.
The Chinese construction companies are amazing.
It's seems like Vice is trying to say that there's something wrong with China offering to give these countries loans and build them roads...
China is doing absolutely nothing wrong, if a country takes on too much debt they have nobody to blame but themselves and they should suffer the consequences.
The world both political & physical, is changing and the change is positive. The colonial era is behind us and wars might become history. The west will have to change its attitude towards China. Italy has joined B&RI and Germany is also thinking on these lines. There may be hard feelings for some, but overall the world will be a better place in future, with less poverty, persecution and a shared future.
You just have a nice Chinese dream, only thing is it is illusive, the truth is CCP has an evil plan to conquer the world and take down US, once the regime is powerful enough, it will distort the world just as it does to China. I know CCP better than you because I am a Chinese suffering from the regime especially now with coronavirus
@@bababeng Sure you are. And take over the world? The U.S. has tried that already. The day they fall will be great. Glory to China.
@@ThePeanutButterCup13 China, and all of the old world have their rivals and enemies in terms of ethnicity, leading to these genocides in the West.
Who's to say other undesired peoples will get genocided too?
I personally know America's plans and stuff like that, but the good part is that they have no real rival in terms like Albanians and Serbs, or Croats and Serbs, which can lead to genocides. They are a colony, isolated from the world until recently, meaning it only looks at the world as a piggy bank, China wants ethnic supremacy, America wants the 💸💸💸
Pick your poison.
@@bababeng >take down the us
> Evil
doesn't follow
When a poor country wants to engage in construction, only China is willing to help you, and those shameless bystanders will make irresponsible remarks.
I've been to Montenegro and it's the most beautiful country in Europe in my opinion. The landscapes are astounding but the prices are pretty high, even higher in some central europe countries because of the tourists and the gdp is lower. But the roads are really hard to build, the terrain is mountainous and difficult. If some sort of amatour was driving the bus i travelled in there would be a high chance I'd been dead. It really sometimes looks like one wrong turn can mean falling down the hill with a whole bus
Some what patronising to doubt Montenegro's ability to repay the loan for their highway. What will Montenegros' place be without a highway in the 21st century?
Edwina Lee The thing is Montenegro doesnt really need a highway and it clearly cant afford it. They are not in the EU so they are not getting bailed out either. Its a very risky plan and that money could have been spent better on education and healthcare.
this attitude is why people go into debt they cannot repay! "WHAT IS MY FAMILY WITHOUT A HOUSE AND A CAR" -> goes bankrupt
The fear of failure is what keeps the poor poor. Montenegro is facing a depopulation of the young to other countries. This poverty spiral has got to be stopped. Consider what may happen if it defaults on China's low interest loan repayment. Sri Lanka did that, for example. They leased out a small bit of land for 99 years for China to develop that into a port. Reminds me of Hong Kong & Singapore, and look at what happened when enterprising investment works its magic.
Abiril the Archer, The consequence of Montenegro defaulting is not the same. It has plenty of scenic landscape, a small population, & it sits in the Belt & Road corridors. So there is plenty of potential for foreign investment into the country.
Edwina Lee you know what has scenic locations that doesn't require a ridiculous amount of investment since it's been built up for hundreds of years? Croatia. Being a tourist trap is not a good economic model, it is one that is accepted if no alternative is found. Being on the belt and road corridors is not potential for foreign investment as we've seen, it's potential for getting loans you cannot afford for projects you cannot afford that China benefits from. And if it fails then you have to give up your most valuable asset to China.
Montenegro doesn't have this luxury, they're in Europe, NATO will not allow China into its sphere of influence.
Every Eastern European country is facing depopulation of young people, but guess where it has slowed the most, Poland. Where they've followed the EU orders and regulations because they had a spine about where they wanted their prosperity to come from.
Hong Kong and Singapore were both touted as terrible things so long as the people who built them up controlled them, and they were useful because the locals were forced to give away their things through these channels. I wouldn't exactly call the period of colonization great for the people who lived there.
This literally looks like a modern day version of the Unequal Treaties, oh and of course they have to vote on China lines and hold China values.
6:28 Compare that little European bridge at the bottom... With the Chinese one being build on top XD
Its a Montenegrin bridge.
that little bridge is part of building the big one. It is a temporary bridge in order for the Chinese workers to be able to transfer equipment or whatever from one side of the river, to another.
Imagine you can make unique handcrafted product. Now with basic infrastructure you can post your product online and ship it across the globe in less than 4 days. Your living cost is less than 1 usd a day, but your product earns you 100 usd a piece.
That's how you conquer poverty in modern day and why infrastructure is important.
6:45 "The only way to avoid the risk is doing nothing...", So true.
so if I am out of money and need more capital, playing the lottery is a good idea?
China still hasn't developped to its fullest but it's already helping others because they know the principle "In order to rise above others, you first need to make them bigger. What you do for others will have an echo on yourself". They are aware...they are VERY aware of what should be done.
Inorder to get filthy rich one has to loot others. PRC is doing that.
Don’t be so naive. China is giving out these loans for geopolitical benefits. That’s not to say it wouldn’t help Montenegro.
Helping others like claiming a whole sea to themselves
of course these are loans, do you expect China to just gift away money?
ikr they make it seem like a loan is evil or something lol
yes, just like the west does and just like the soviet union did! If you wanna play superpower you have to put up the cash
Thats what i have been saying for 6 months
Transportaion is a really basic thing. If even high ways should be spared. What the heck should a country invest?
Communism has Given China Twice As Much What Democracy has Given to India , Period.
Loved the Progress that China has Made in d Past 20 years.. We are Still 20 years Behind You Guys & Still Stuck in Hindu-Muslim Politics.
Ask yourself this question:
When was the last time China involve themselves in other nations business?
And how many nations did USA intervene in the last year alone? ALOT.
Why does USA always feel like they need to get involve in everyone’s business? They always make other nation look bad in the media if they don’t agree with their ways.
This deal is between China and Montenegro. Clearly Montenegro AGREED to the deal, that’s THEIR business. Why US trying to get involve? Same with China’s deal with Africa or Pakistan.
that's because China was busy killing tens and millions of their own people in the last century. Ever studied up on communism?
Umm. china is killing millions of Uighurs right now so...
@yuming zhang I saw it on news just last night. I see it daily on every international news. Those "Re education camps" for the uyghurs
I live here and don't see any of that in Xinjiang. If you are too poor to travel, I can send you some money or work for me. I have lots of work for you. @@official.rajarshidutta
@@Pixinity Are you an Uyghur ?No right. Then fucknoff you filthy Han . Your opinion doesn't matter.
So EU doesn't want to invest in Montenegro and it doesn't want other countries to invest in Montenegro? Wtf is this logic? Yes, Montenegro might be bankrupt because of this project, but if they don't take this risk, they will be poor forever. Sometimes, you have to fight against the destiny,
By the way, 2% annual rate is pretty low.
2% annual is nothing. Adjust it to inflation after a 5 years period of grace, it's like you're getting the loan interest free.
Congrats to both parties for pulling the trigger. I wish both Montenegro and China a lot of success. Rather take the risk than die a slow death.
Is the return on investment on this project higher than 2% interest?
After servicing debt, does this country have enough fund to do sustainable reinvestments?
If yes, then go for it.
If not, then why did this government sign onto this deal anyway?
what VICE is doing is called "due diligence", as covered in almost every Business 101 class.
Paulo Alexandre you are frogoting thats a country of 600 000
If you havent noticed the EU has massive problems with countries taking risks with debt (Greece, Italy, Portugal) are all swimming in debt. Therefore EU has very strict debt requirements.
The Silk Road from a military perspective, is perfect for moving a Chinese army...
Free Spirit interesting mind set of yours.
Justin Lee thankyou for the compliment.
With your aspect, so all the world should to built walls instead of built roads...
SHIYU CHEN seeing as China built the biggest wall, maybe!!
Well, is that also means a perfect way for western powers to invade China?
Trump: Builds a wall to divide America
Xi Jinping: Builds a road to connect the world
don't be naive. China may be more a subtle,. but they are also seeking world domination through debt.
@@rohanr.9714 worst is they make it look like a good thing..atleast America can be called out for bombing or killing, China clevrly uses contracts designed on their own terms to tactfully gain economic and ultimately strategic advantage..I m sure they are going to build their foreign military bases in these seized lands.. and the host country would not be able to stop them
I agree with that man. If you want to gain something you must risk something first.. No pain no gain
This poor European country? You can just say Montenegro. Using this way of clickbait is really dumb.
It's not clickbait, this is just their capacity. There was so much wrong and disinformation in this video, i don't believe it was intentional, they really are this ignorant and stupid. The map they showed was wrong, the impression that they gave that central and east europe is poor is also absurd, given that the EU countries are rich and democratic.
You do realize Northern and Southern European countries are in the EU too, right. Montenegro has been making a lot of progress lately, along with the other western Balkan states, i am sure they'll get in eventually.
Funny that in World Bank research, it didn’t count in the potential income revenue from the highway...
do you know this for a fact? Let's see some evidence.
The content on your channel is great, I follow your work, all the best and as many reviews as possible
that is why the west is crumbling, slowly but surly. it is always arguing, complaining. the west has lost its old days "can do it" spirit and aspiration...
The west has lost when WW2 happened and USA overtook UK.
@@bsfoxo3329 Euwhorepean crying about losing their colonial empire
same thing happens when usa lends loans to south america. Montenegro needs to grow and china is the only financier. good for china.
notfound767 True.Anyway, Montenegro agree to implement this project.
China isn't perpetually hostile for no reason, people need to chill
Build and progress together. Cheers
The VIce MUST go and study basic Economics on how to make Wealth for a Nation, without road and highway is bound to future doom on Economic Prospect of the Nation. Are you up to something?
You must go study basic economics if you think taking on a project that is worth 70% of your country and having 70% of the economical development value go to another country is smart by any means. Particularly if its built in such a rush the standards will be lower and there won't even be much use for the highway at least for a couple years by when it will deteriorate and "need refreshing."
a 3 billion dollar loan with a 2 percent interest rate in a country that has a 4 billion dollar gdp and a 1 percent growth rate hmmmm sounds like a great idea hmmmm
Let's say that Montenegro simply chooses to not pay off the loan, the loan will be worth more than the country, that is they will be insolvent, aka BANKRUPT in only 29 years. Assuming growth stays steady. If the highway is built lets say economic growth jumps to 2 percent as well, but they also have to pay back loans so they are stuck in an eternal debt-trap again, not including maintenance on the road. Oh and they're not the ones building the road so you can bet your ass they're not gonna be the ones to maintain it either!
Well there’s always a risk of doing something new. Just like what he said, if you don’t want to risk something then just do nothing. Also nothing will happen to you later.
To quote Theodore Roosevelt:
“It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat.”
Criticism is cheap. Anybody can criticize. Creating something of value is significantly more difficult. I’d think twice before insulting somebody on something you haven’t attempted to do yourself.
People who don't learn from history are doomed to repeat it.
So many Chinese bots in the comment section. Either they haven't watched the video or they're bots.
1:50 Dude sounds exactly like Borat
Better than American invasion.
Not gonna lie, those towers are impressive, but at the same time an eyesore. Doesn't fit in with the beautiful country side.
Mystic shhh, you are shining light on the unseemly side of the indubitable, omnipotent, vacuous, most-favored corporate catchphrase ‘growth’!
In my opinion this highway can have a great significance to the country tourism and exports, as long as they have a decent sea port. Serbia would also benefit a lot, because they are a landlocked country
World bank would not make the loans to grow Montenegro. Why? Because of default risk? I call that BS. There's alot of needs around the world but if they grow out of their financial troubles, they won't need to pay higher loan rates.
China - The volume of concrete they mixed during past 4 years > US - The volume of concrete they mixed during past 100 years.
this always amazes me
At least concrete from the US doesn't break as damn quickly
@@redberet5064 sounds like you see it. not convincing.
China build 67% of the skyscrapers of the whole world. Which is also 6 times of what USA have.
I can only imagine such a mature response from a member of opposition
Wish you best Montenegro
China is the Best Country in the World by Far!!!
2:10 he's wrong, Liechtenstein, Monaco, The Vatican and San Marino have no highways either
They're micronations
@@davidoconnor8076
Aren't micronations...
Really unofficial nations like Sealand or the Republic of molossia ?
Well boy,time to learn Mandarin.
Didn't know Chinese are Saints. What, you want to get a free money, instead of Cheap Loan? LMAO ... How about give me 2 Billion dollars free money next time LMAO Of course, it has benefit for both side.
another european country without mcdonalds, iceland:)
LOL this journalist trying hard to spin this as a "debt trap" while the people of Montenegro disagree.
I mean it's clearly a debt trap with those stipulations of allowing the seizing of territory on default. However, the people of Montenegro are feeling the impact of a poor economy and are desperate to take a risk
@@limegpt a road help the exon economy. By producing finished goods
@Islamist Reactionary إرتجاج الإسلامي at least they have a port . A world class port.
They can export and imports the products.
The problems is Sri Lankan doesn't know business .
Simple
@@limegpt If thats your logic, then your mortgage is a debt trap. You will go far in life sir :)
Will Montenegro default when they cannot compete with lower priced products from China?
You know it will. Pooh Bear wants those bridgeheads into Europe.
I was in Montenegro 2 years ago it is not poor. Only 600,000 live there
sweety , Montenegro is very very poor like albania. people are cute though . these are clueless villagers.
Lechiffresix six sweetie if you think Montenegro is anything like Albania you’ve clearly never been to either country
Lechiffresix six You’re really comparing Montenegro to Albania? Do you realize that the sallary and GPD almost doubled since their Indepedence? It’s on their way to surpass Hungary, but you can stay ignorant too, I don’t mind. 😊
They’re poor relative to the rest of Europe. I mean Lol they don’t even have a highway, there’s countries in Africa with highways now haha
And average wage in the Balkans is lower than most cities in China. I’ve been to Bulgaria and what I find is people don’t make much money or have much, but what they do have they spend on nice things on themselves. They know how to stay happy and that’s important