STOP BORROWING FROM CHINA!

 

Stop borrowing from China!

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----------SAMUEL DANAUTA KYARSHIK

I have read a lot of articles about how China is better than the USA and I laughed. I have also read a lot about how China will or is leading the world and I also laughed. That's a talk for another day. But for loan, please Nigeria, stop collecting loan from China or anywhere else.

If USA being the country with the highest Debt in the world is your argument, then your knowledge of economics is deficient. Its not a money game its an economic game. Because, the USA has the economic capacity to absorb their debt. With companies like Apple, Amazon, Microsoft, etc, and the fact that US has a very strong productive economy, they can pay off whatever they are owing when ever they want to. No creditor can take over USA because of how much they are owing...the question of USA debt is not about the incapacity to pay....they can if they want to...

Lessons for Africa's Leaders:

Stop collecting foreign loans and build a productive economy here by maximizing our economic potentials.

On the average, we don't have productive economies in Africa, its a different thing here. We don't have companies that can withstand our debt, put all the wealth of the Nigerian billionaires together, they can't off set our debt...so with all the so called billionaires we have in Nigeria, we are still poor and economically backward....the question about Africa and loan is our lack of capacity to pay loans because we are not productive enough...

For young emerging leaders, learn how to take advantage of our raw materials to build an internal but a strong and a productive economy. This the same thing that China did many years ago.

It is possible. We can stop our children from being slaves today by taking the right steps.

Its not a money game, its an economic game...think of this...