There is a country in in Central America that I believe is in the same boat. Want to say it’s Guatemala, but not entirely sure.
Ran across a guy in Australia that had a very successful business using anti-coating material for coating fleet vehicles. The company offered him a “pre-bate” based on past business and “their” projections of normal business increases. The catch was they locked him into a 5 year contract, of using their material and there were no price control guarantees either. He signed and by about the 18th month was losing his ass.
The Chinese are flashing money and conditions to these crooked bastards that run the countries knowing full well they will take the deal, steal a huge portion of the money for themselves and then exit stage left when things go south. Can’t imagine it can last for long though. You would think the next set of political whores won’t be so stupid.
One last story on the rat bastard Chinese....when Australia suffered devestating wildfires in NSW, VIC & SA the utility companies did not have the money to rebuild the infrastructure needed to get everyone back on the grid. In steps a Chinese outfit who, for an ownership stake, agreed to rebuild the lines which they did. Recently a Chinese company wanted to buy an O&G group in Australia named APA. The government killed the deal, said they will no longer sell critical infrastructure entities or businesses to anyone.
