Preying on the weak.

In Africa, "The continent's foreign debt reached more than $1 trillion at the end of last year." "And roughly 900 million people live in countries that spend more on interest payments than on health care or education." This along with "government corruption and mismanagement has left many African countries more vulnerable to brutal wars, military coups and antigovernment riots." "China now accounts for 73% bilateral borrowing in Kenya, 83% in Nigeria and 72% in Uganda." BS. "In 2002, Africa seemed poised to rise. Wealthy creditor nations were wiping billions of dollars of unsustainable debt off the books of sub-Saharan countries, and global demand was surging for the commodities the region exports." To improve their credit ratings from 'junk' status, "more than a dozen sub-Saharan countries borrowed nearly $200 billion from overseas bond investors" which they cannot repay, so that "The region today has the highest rate of extreme poverty in the world." Reuters. "Foreign capital, which made a beeline for China for a long time to ride its exceptional growth story, is now avoiding the country." "China's stock exchanges have stopped releasing daily data on overseas fund flows" "Private equity firms that amassed more than $1.5 trillion of assets in China in just two decades are now struggling to offload once-promising investments they were counting on for hefty returns, Bloomberg reported." ET. And, "Previously, when property prices sagged, households would buy stocks; when shares sold off, people would pile into real estate; when both looked shaky, more money would end up in bank accounts." "This year, lenders are offering low savings rates, stocks are moribund, and house prices are still falling. That has made Chinese government bonds an obvious refuge." "In May, the price of a new debt issue spiked 25%." Yields have fallen below those of US Treasuries. Now the government is putting brakes on public bond buying. Reuters. China is trying to export out of the crisis. "China's factories will keep chugging along, regardless of what overseas officials like Janet Yellen say." "That's largely due to Beijing's industrial push to prop up economic growth amid sluggish consumption and a protracted property crisis. Manufacturing loans at the country's four big state-owned banks jumped 25% last year to $1.2 trillion." Reuters. Retaliation is coming. In July," The European Union...slapped extra provisional duties of up to 38% on Chinese electric car imports because of 'unfair' state subsidies, despite Beijing's warnings the move would unleash a trade war." ET. Also, "Canada says it will impose 100% tariff on imports of China-made electric vehicles (EV) after similar announcements by the US and European Union. The country also plans to impose a 25% duty on Chinese steel and aluminium." BBC. While the rich economies can resist Chinese depredations, weaker African nations are easy prey. China feeds on the weak.