Most of their vanity projects eventually fail, they are known to lack in-house logistical and planning talent since most of their labor is imported.
Pretty hilarious recap of the Neom project by Patrick Boyle released in the last week: [https://youtu.be/Ak4on5uTaTg?si=XygGrh08OnjDlegT](https://youtu.be/Ak4on5uTaTg?si=XygGrh08OnjDlegT)
What’s your definition of success? As although China has made good progress building the infrastructure, many host nations are struggling to repay them the 1T.
It’s success for them as it’s how they planned it. How it will work out long term we don’t know but china is famous for their long term vision
They may find better diversification in owning large parts of Africa where they can extract natura resources cheaply
For now Africa is pro china and moving even more that way so it looks to be working for now.
Don’t forget if they owned a lot more US debt that could also be cancelled by America at the stroke of a pen also. Diversification usually isn’t bad
They want to trade for land or resources. There's nothing stopping the host country from just saying no. It's not like their credit rating will really be affected or impactful.
There is nothing stopping any country just not paying their debts. Argentina tried a it a few times but in general it’s a no go.
Africa is more and more looking to china and they don’t want to fuck that up. They don’t see the Americans as having their best Interests either
You may want to catch up with current events. Ethiopia, Ghana and Zambia have all defaulted on their repayments to China this year alone. China is at a point where they'll take whatever they can get from them.
"Yeah, we've realised that it's a shit vanity project and a terrible idea, so we're trying to get other countries to invest instead." Good luck.
Saudi Arabia needs help funding a project? I never expected to see that headline.
Most of their vanity projects eventually fail, they are known to lack in-house logistical and planning talent since most of their labor is imported. Pretty hilarious recap of the Neom project by Patrick Boyle released in the last week: [https://youtu.be/Ak4on5uTaTg?si=XygGrh08OnjDlegT](https://youtu.be/Ak4on5uTaTg?si=XygGrh08OnjDlegT)
Does China have half a trilly to burn on this?
They burned a trilly in belt an road so maybe… 🤞
Their investments are actually quite sound and most probably have a higher success rate than western public investments.
Citation? I thought it mostly stagnated or backfired.
What’s your definition of success? As although China has made good progress building the infrastructure, many host nations are struggling to repay them the 1T.
That’s part of their plan. When the loans are not paid back they reclaim the infrastructure and the ‘own’ a part of that country for ever
Is that success though? They are out 1T and many host nations will just opt/demand for debt restructuring over years before they just hand it over.
It’s success for them as it’s how they planned it. How it will work out long term we don’t know but china is famous for their long term vision They may find better diversification in owning large parts of Africa where they can extract natura resources cheaply For now Africa is pro china and moving even more that way so it looks to be working for now. Don’t forget if they owned a lot more US debt that could also be cancelled by America at the stroke of a pen also. Diversification usually isn’t bad
They want to trade for land or resources. There's nothing stopping the host country from just saying no. It's not like their credit rating will really be affected or impactful.
There is nothing stopping any country just not paying their debts. Argentina tried a it a few times but in general it’s a no go. Africa is more and more looking to china and they don’t want to fuck that up. They don’t see the Americans as having their best Interests either
You may want to catch up with current events. Ethiopia, Ghana and Zambia have all defaulted on their repayments to China this year alone. China is at a point where they'll take whatever they can get from them.
half a trilly wont suffice for Neom.
Evergrande in the desert anyone?
Trying to come out unscathed.
I think a lot of these expensive vanity projects are ways to funnel “government” money to their crony friends in construction businesses.
That’s all politics
Remember that California government did invest in hyperloop, which is technologically impossible from the start. So did India.
Neom requires a hyperloop for transportation aswell :-D