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: 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.

Previous issues
The Iraqi government decides to close several refugee camps
Ethiopians running away to Sudan
Migrants are heading to Canary Islands
Canada open to immigrants
Brutal treatment by Croatian police on migrants
A trial of Uber Eats in Italy
Migrants’ situation in Algieria
The first caravan of Central American migrants since the pandemic
Serious human rights violations in Libya
New migrant plan for Europe
Fire destroys Moria refugee camp
Immigration policy of Donald Trump
Banksy’s boat rescues migrant
The death of Abdulfatah Hamdallah, a migrant form Sudan
Cooperation on migrants crossing English Channel
Migrants’s situation in Lebanon after deadly blast in Beirut
 Italy’s Senate lifted the immunity of Matteo Salvini
Migrants’ situation in Canada
US changes visa rules for students
US court decides on migrant children in detention centres
World Refugee Day 2020
Intikane camp attack
Malta allowed 425 migrants to disembark
Refugees in Greece face homelessness
Hungarian government shuts down the so-called “transit zone” of Röszke
The work permit for migrant workers in Italy
Indian migrant workers come back home
Rohingya refugees dramma
Medical staff in the West consists of many migrants
Immigration to US to be suspended amid coronavirus
US expell migrants due to COVID-19
Thousands of families are displaced by flooding in Yemen
Portugal helps immigrants during the pandemic
South Africa fights against coronavirus
COVID-19 vs migration
Refugees from Cameroon seek shelter in Nigeria
Syrian refugees want to enter Europe
Great Britain announces new immigration system
Another tragedy of refugees in Syria
UN makes a landmark decision about the victims of climate change
Rohingya refugee children will get access to education
The United States deported 25 Cambodian refugees
Imigrants at the US-Mexico border
Scandinavia will help African refugees
Migrants are trying to get to Great Britain
World’s refugees’ situation in 2019
For the sixth year in a row, over 1,000 people died in the Mediterranean in a year
At least 58 people died on their way to Canary Islands
UK truck tragedy of Vietnamese migrants
Immigrants drama in Libya
Rights groups warn of a new humanitarian emergency in Bosnia
France is introducing a new migration policy
New asylum law in Greece
The US administration plans to collect DNA samples from asylum-seekers
Mexico deported Indian national people to New Delhi
Transit zone in Hungary
Migrants in Poland
Wall on the Hungarian – Serbian border
Frontex patrol
Center in Kofinou
Spotters on Lesbos
Macedonian – Serbian border
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