PL | EN

How China and Saudi Arabia are influencing the world with money

Saudi Arabia is investing oil industry profits in other countries in an attempt to diversify its own economy. However, activists claim that the kingdom is thus suppressing criticism over human rights violations. The US$608 billion state-owned Public Investment Fund (PIF) currently has stakes in, among others: Amazon.com Inc, Google LCC, Visa Inc, Microsoft Corporation, The Walt Disney Company, Nintendo, Uber Technologies Inc, PayPal Holdings Inc and Zoom. Brands such as Starbucks and World of Warcraft are also linked to the Saudis.

Having lent money to other countries in recent years, China is now in a position to influence the policies and economics of borrowers by cutting them off from funds, lending more or remitting some of their debts. The Chinese, for example, confiscated money from Suriname’s bank account when the country was unable to repay the debt. The situation for borrowers is exacerbated by the peculiarities of Chinese floating rate loans. With a rapid rise in global interest rates, debt soars, borrowers’ currencies lose value and debts have to be repaid in US dollars. At the same time, the Chinese are cutting back on lending in the face of slowing economic growth – thus developing African countries are losing the guardian that for years allowed them to borrow more cheaply than in capital markets. According to the Boston University Global Development Policy Center, between 2000 and 2020, Angola, Ethiopia, Zambia, Kenya, Egypt, Nigeria, Cameroon, South Africa, Congo and Ghana were the largest recipients of Chinese government loans.

Read also
Drought, large retention reservoirs and the situation in the Horn of Africa
The construction of large retention reservoirs to irrigate agricultural fields threatens communities worldwide and violates the human right to water access. These vast reservoirs draw water from underground resources, which often leads to the degradation of water resources in a given area. Reservoirs are used by a few large farms, usually associated with agro-industrial companies. […]
Abortion in Belgium and France and the vacuum method in the USA
According to Dr Joan Fleischman,  who works in New York, training primary care physicians in a simple abortion method will help increase access to termination of pregnancy in the US, especially after the tightening of abortion laws in some states. Dr Fleischman performs a vacuum aspiration abortion – a medical procedure that involves the manual […]
Attacks on human rights activists and the state of press freedom in the world
According to a report by the British Business & Human Rights Resource Center, in 2022, Brazil topped the list of the most dangerous countries for human rights and trade union activists. Sixty-three attacks on activists were recorded there. Then there are India and Mexico, with 54 and 44 attacks, respectively. Cambodia, the Philippines, Honduras, Belarus, […]
The future of the Internet and the South China Sea rivalry
Dr Maurizio Geri, a former NATO analyst, said the future of the Internet depends on the outcome of the China-US rivalry in the South China Sea. That sea is not only a key world trade route, as a popular submarine cable route is hidden under its surface. Controlling the flow of data and information is […]
A “tattoo” for your heart made from graphene and “cyborg cells” in medicine
Researchers at Northwestern University have developed a graphene “tattoo” that can treat an abnormally low heart rate. It was proved by experiments on rats when such an electronic “tattoo” was glued to their central organ of the circulatory system. The device acts as a pacemaker, delivering electrical signals that keep the heart working properly. Combining […]
Previous issues
By clicking "Subscribe", I consent to the sending of the Outriders newsletter by Outriders Sp. not-for-profit Sp. z o.o. and I accept the terms .
Sign up