China's fake development deals

 StrategyPage has a long discussion of China's investment in the Congo, which was supposed to include money for roads and development.

but a lot of the money went to the usual suspects:

The investigators found evidence that the engineering contract was used to distribute $55 million to senior members of former President Joseph Kabila’s government. The bribery plot used several shell companies in Congo and elsewhere that made the operation look legitimate. The shell companies provided fake invoices and other paperwork. One even provided fake telephone justifications for payment. 

since Kabila is out of power, they are working on new deals.

and just ignore the cooperation of western banks to this type of embezzlement of development money/stealing resources of poor countries:

Some of the money flowed through major European and American banks. .... 

then you have the scam of China giving aid lending money and then stealing stuff when you can't repay them. This is something we see in Asia and the Philippines is worried that their aid here will let them steal our resources and ports too.

December 3, 2021: A recent report looked at Zambia’s debts to China. Here’s the bottom line. From 2000 to 2010 Chinese financial groups loaned Zambia around $10.3 billion. So far Zambia has only repaid $1.2 billion. Zambia fears it will be another victim of Chinese Debt Trap tactics which involve offers to settle such debts by taking possession of key items, like ports, railroads or mining rights, that China wants to control....

and then there is this: 

 

 December 1, 2021: China is urging Chinese citizens now in eastern Congo (South Kivu, North Kivu and Ituri provinces) to immediately move to safer areas in Congo. In the last month at least a dozen Chinese citizens living in these provinces have been attacked or kidnapped. It is believed most Chinese nationals in these areas are involved in businesses dealing in minerals and other manufacturing resources.

so are they planning to keep them until ransom is paid, like the terrorists in the Philippines, or will China send in Wolf Warrior II to rescue them a la Rambo?