Europe join China's led Dev Bank as US cling to WB/IMF

[RV Pundit]

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This is good news for those who think WB/IMF lost the plot when EU's Marshal plan was completed. They have never cared about Asia,Africa and Latin America beyond the lipservices.

http://www.nation.co.ke/business/China-glee-as-Europeans-go-to-Asian-lender/-/996/2658130/-/e0pptm/-/index.html

[Mr Mansfield.]

India and China are projected to be the world largest economies in the world by 2060,Their economies will multiply by over 8X-10X,What that means is that these nations will see high economic growth,infrastructure spending and urbanization,Those factors coupled with slow growth across Europe and USA while ECB is dumping $60BN monthly in private institutions means all these monies will mostly end up in Asia and Africa through multi-lateral institutions,that's where the future of the world is,expect more of such in years to come,

Without Prejudice.

[RV Pundit]

I see you've finally got the memo. Facing the West is monumental waste of time and space. The US and EU have streamrolled reforms at IMF/WB and even UN despite the changing  reality. For instance China and many countries have demanded severally that capital of WB and IMF be raised...so they can afford to really lend money enough to handle mega infrastructure projects worldwide..but US and EU which are technically broke...wanted to maintain the current shareholding...so they can use these same institution...for POLITICAL reasons..not least connected to the bank aims.

With ECB...it will be easy for say EAC countries to get funding for LAPSET....which will require maybe some 100b dollars if it was to snake it way from LAMU all the way to Congo.

If there is a a gov that is not seriously facing EAST...that is gov led by morons. China is already world leading economy in PPP terms..and will be world leader in nominal GDP  next year or in 2017 (reason yuan appreciation+inflation+growth rate)...while India will surely wake up...and take over critical industries like ICT,Pharma and Biotech..in addition to manufacturing.

Africa time will come around 2050.

India and China are projected to be the world largest economies in the world by 2060,Their economies will multiply by over 8X-10X,What that means is that these nations will see high economic growth,infrastructure spending and urbanization,Those factors coupled with slow growth across Europe and USA while ECB is dumping $60BN monthly in private institutions means all these monies will mostly end up in Asia and Africa through multi-lateral institutions,that's where the future of the world is,expect more of such in years to come,

Without Prejudice.

[Mr Mansfield.]

Facing the West is monumental waste of time and space. The US and EU have streamrolled reforms at IMF/WB and even UN despite the changing  reality. For instance China and many countries have demanded severally that capital of WB and IMF be raised...so they can afford to really lend money enough to handle mega infrastructure projects worldwide..but US and EU which are technically broke...wanted to maintain the current shareholding...so they can use these same institution...for POLITICAL reasons..not least connected to the bank aims.

With ECB...it will be easy for say EAC countries to get funding for LAPSET....which will require maybe some 100b dollars if it was to snake it way from LAMU all the way to Congo.

If there is a a gov that is not seriously facing EAST...that is gov led by morons. China is already world leading economy in PPP terms..and will be world leader in nominal GDP  next year or in 2017 (reason yuan appreciation+inflation+growth rate)...while India will surely wake up...and take over critical industries like ICT,Pharma and Biotech..in addition to manufacturing.

Africa time will come around 2050.

You continue to exhibit scattered knowledge,

(a) There is an oversupply of capital/money in the world,The USA and Europe QE to private institutions is more than the China $4TN reserves,such multi-lateral banks are important to ensure both sides of the world benefit otherwise you will have violence or regime change in recipient nations of China development finance,

(b) The west is not dead,One of the things that leads to high economic growth is infrastructure and urbanization,the west experienced both in 1940s-1980s and there was high economic growth..during that time China was unstable with its wrong communist policies which failed however when Deng xiaoping took over,He allowed private ownership which led to PPP in China infrastructure which led to high economic growth rates of 11% and urbanization from 1980s to late 2000s which created economic boom however with infrastructure deficit almost solved,China growth is now at 6% and will be a consumer economy like the west moving forward,As you can see,China is doing what the west already did long ago,

(c) Africa time is NOW NOT 2050..When we talk of economic growth,what do you think it mean?Africa Urbanization is less than 50% Vs West 80%,That means there will be demand for housing in Africa which will create demand for cement,wood products,paint,steel,etc,Less than 50% Africans are connected to the grid,That means we need investment in energy sector,Africa has 244KM of roads per 1000SqKM vs world average 944KM of roads per 1000sqKM,that means its an investment opportunity,Less than 50% Africans are connected to the internet,that's an investment opportunity,Our vehicle ownership rate is 24 per 1000 people vs developed world of 500 per 1000 people,an opportunity etc etc,That's what we mean by economic growth..solving deficits,when you do that,you create economic growth,

(d) Its not about China having high GDP but what matters most is the quality of life,per capita income,

Without Prejudice.

[MOON Ki]

With ECB...it will be easy for say EAC countries to get funding for LAPSET....which will require maybe some 100b dollars if it was to snake it way from LAMU all the way to Congo.

If there is a a gov that is not seriously facing EAST...that is gov led by morons. China is already world leading economy in PPP terms..

Is red supposed to be AIIB?   Regardless, can someone explain to me why any African should get excited over the setting up of this bank?  Has Africa even been mentioned anywhere in anything to do with this bank? 

The name--Asian Infrastructure ...---should make it clear, but if it isn't some reading on what the Chinese say about it ought to.   For example:

`China has begun preparations to set up a multilateral bank to fund infrastructure projects in Asia, the finance ministry said on Friday, looking to tap into demand for infrastructure growth as regional economies develop.

In a statement, the ministry said the planned Asian Infrastructure Investment Bank would have a capital of $50 billion, paid for by its members.

It would have a mandate to fund infrastructure projects in the region, complementing the work of other such entities, like the Asian Development Bank.

"The AIIB will mainly focus on infrastructure construction in Asia to promote regional connectivity and economic cooperation," the statement quoted Finance Minister Lou Jiwei as saying.'

http://www.reuters.com/article/2014/03/07/china-bank-idUSL3N0M42NQ20140307

In other words, like the Asian Development bank, it will lend only to Asian countries.    Where does anyone get the idea that it will somehow benefit Africans?   

[gout]

what with Euro depreciation .... is it a reaction to 300k jobs created in US

well Kshs up it goes given tea and agricultural products getting hit by drought ...for importers of italian/turkey suits, land rovers, mercs.. they are good to go

[RV Pundit]

You're so all over with unrelated nonsense including your latest obsession or should i call it the latest stuff you've copied from twitter..urbanization..you new silver bullet.

We are talking a bank that can lend to gov..to treasuries.

You continue to exhibit scattered knowledge,

(a) There is an oversupply of capital/money in the world,The USA and Europe QE to private institutions is more than the China $4TN reserves,such multi-lateral banks are important to ensure both sides of the world benefit otherwise you will have violence or regime change in recipient nations of China development finance,

(b) The west is not dead,One of the things that leads to high economic growth is infrastructure and urbanization,the west experienced both in 1940s-1980s and there was high economic growth..during that time China was unstable with its wrong communist policies which failed however when Deng xiaoping took over,He allowed private ownership which led to PPP in China infrastructure which led to high economic growth rates of 11% and urbanization from 1980s to late 2000s which created economic boom however with infrastructure deficit almost solved,China growth is now at 6% and will be a consumer economy like the west moving forward,As you can see,China is doing what the west already did long ago,

(c) Africa time is NOW NOT 2050..When we talk of economic growth,what do you think it mean?Africa Urbanization is less than 50% Vs West 80%,That means there will be demand for housing in Africa which will create demand for cement,wood products,paint,steel,etc,Less than 50% Africans are connected to the grid,That means we need investment in energy sector,Africa has 244KM of roads per 1000SqKM vs world average 944KM of roads per 1000sqKM,that means its an investment opportunity,Less than 50% Africans are connected to the internet,that's an investment opportunity,Our vehicle ownership rate is 24 per 1000 people vs developed world of 500 per 1000 people,an opportunity etc etc,That's what we mean by economic growth..solving deficits,when you do that,you create economic growth,

(d) Its not about China having high GDP but what matters most is the quality of life,per capita income,

Without Prejudice.

[RV Pundit]

Said who? China has set up banks to lend to everyone. It now European time to join at China's terms. There are many China gov banks that lend to Africa,Asia, Latin America and of course the big one formed by BRIC which will eventually replace WB/IMF...if US doesn't read the signs of times.

This is a big story because China has money that can help solve most of humanity problems.

When US had same money way back in 1940s..they lent Europe serious money in the so called Marshall Plan.But since then...they've been reluctant or broke to do the same.

I hope you're not arguing about the importance of development loans or emergency loan during times like now when drought is ravaging say Kenya.

The lonely man out there is US...who knows their time when they can print dollars ovyo ovyo is over or even crash the world economy leading to global suffering is over...and soon the yuan will be the global currency.

he Asian Development bank, it will lend only to Asian countries.    Where does anyone get the idea that it will somehow benefit Africans?   

[RV Pundit]

US were happy when they were hoarding China's reserve but after crashing the global economy then using kifua to print dollars (and undervalue chinese/saudis debts]; chinese have been divesting their historic gazillions of reserves around the world.

You can imagine most of world reserves are sitting either idly or packed at US's broke vault..these reserves are from chinese trinkets being sold, saudi oils, norway oils and name them....

Those billions if divested world wide...will lift many people out of poverty.

Most of gov investment like in education are long time...a kid has to go thro 20yrs of education..to start pay backing in form of income yes taxes...and if you have China giving long term maturing loan..isn't that the solution to many of our problems.

what with Euro depreciation .... is it a reaction to 300k jobs created in US

well Kshs up it goes given tea and agricultural products getting hit by drought ...for importers of italian/turkey suits, land rovers, mercs.. they are good to go

[Georgesoros]

Pundit
China central govt. lends trillions to local govt to mask its indebtedness.
Spending on anything other than infrastructure is non existent. Cancer rates are thru the roof, so anyone who gets it is transferred into a "cancer camp".
At the same time, I am sure they will use every availble resource to make this world bank work. They want power - just like Sonko. Given the level of commitment I think it might work, but at the same time they have to show greatest level of accountability.

[Mr Mansfield.]

You're so all over with unrelated nonsense including your latest obsession or should i call it the latest stuff you've copied from twitter..urbanization..you new silver bullet.

We are talking a bank that can lend to gov..to treasuries.

You continue to exhibit scattered knowledge,

(a) There is an oversupply of capital/money in the world,The USA and Europe QE to private institutions is more than the China $4TN reserves,such multi-lateral banks are important to ensure both sides of the world benefit otherwise you will have violence or regime change in recipient nations of China development finance,

(b) The west is not dead,One of the things that leads to high economic growth is infrastructure and urbanization,the west experienced both in 1940s-1980s and there was high economic growth..during that time China was unstable with its wrong communist policies which failed however when Deng xiaoping took over,He allowed private ownership which led to PPP in China infrastructure which led to high economic growth rates of 11% and urbanization from 1980s to late 2000s which created economic boom however with infrastructure deficit almost solved,China growth is now at 6% and will be a consumer economy like the west moving forward,As you can see,China is doing what the west already did long ago,

(c) Africa time is NOW NOT 2050..When we talk of economic growth,what do you think it mean?Africa Urbanization is less than 50% Vs West 80%,That means there will be demand for housing in Africa which will create demand for cement,wood products,paint,steel,etc,Less than 50% Africans are connected to the grid,That means we need investment in energy sector,Africa has 244KM of roads per 1000SqKM vs world average 944KM of roads per 1000sqKM,that means its an investment opportunity,Less than 50% Africans are connected to the internet,that's an investment opportunity,Our vehicle ownership rate is 24 per 1000 people vs developed world of 500 per 1000 people,an opportunity etc etc,That's what we mean by economic growth..solving deficits,when you do that,you create economic growth,

(d) Its not about China having high GDP but what matters most is the quality of life,per capita income,

Without Prejudice.

You are obsessed with the Chinese but they don't have the monopoly of money,there is TOO MUCH MONEY in the world right now chasing few infrastructural projects,

Of course urbanization is my new silver bullet because that is where the future of the world is,In cities and that's where some of that money from that bank will go to,it seems you've reached the end of your thinking capacity,i've talked about roads,rails,ports,energy,ICT where that money will go to not just urbanization,

Like i ALWAYS tell you..You have scattered knowledge which is USELESS,How can a right think creature say that Africa time is 2050 and west which developed China from 1978 is dead?that's idiotic to say the least,

Without Prejudice.

[MOON Ki]

Said who? China has set up banks to lend to everyone. It now European time to join at China's terms. There are many China gov banks that lend to Africa,Asia, Latin America.

So say the Chinese and the people who have set up the bank.  That's who.   Please do your homework on the bank's mandate. Did you even read the quote I gave above?   If in doubt, please use Google for other sources.

"The AIIB will mainly focus on infrastructure construction in Asia to promote regional connectivity and economic cooperation," the statement quoted Finance Minister Lou Jiwei as saying."

That's the Chinese Financce Minister.   I think on such matters he knows more that Pundit of Nipate.

"The fundamental mandate of the AIIB is to promote Asian economic development and regional economic cooperation by providing financing in infrastructure and other productive areas in Asian countries."

http://news.xinhuanet.com/english/world/2014-03/07/c_133168752.htm

"Its mandate is to focus on financing in infrastructure development that helps Asia at both the national and regional levels."

http://www.chinausfocus.com/finance-economy/the-benefits-of-the-asian-infrastructure-investment-bank/#sthash.vgwvJWw7.dpuf

Do you have any evidence at all that the mandate of this bank includes lending to places outside Asia (e.g. Africa)?

There are many China gov banks that lend to Africa,Asia, Latin America ...

Yes, there are many Chinese banks that lend all over the place.  But we are talking about this particular bank, the AIIB, which got you running here in all sorts of excitement. 

This is a big story because China has money that can help solve most of humanity problems.

He, he, he, ...  This is the kind of statement I describe as Pure Pundit! 

First, China may have a huge GDP, but have you looked at the GDP per capita?

Second, that statement could come only from someone who has not travelled in China and sees it terms of glitzty photos of places like Shanghai.  China has large numbers of desperately poor people and China has consistently refused to contribute more to the UN on that basis.   But some Africans are dreaming of enough Chinese money to solve most of humanity's problems!

Third, I encourage you to give up on this idea that China will somehow save Africa (and anyone else).    No matter what, Africans will have to do for themselves, and the sooner they realize that the better. 

and of course the big one formed by BRIC which will eventually replace WB/IMF...

He, he, he, ... I take it you have not been following the story of that bank.   Start at the link below (from mid-2014) and update yourself:

"Setting up rivals to the IMF and World Bank is easier than running them:
...
http://www.economist.com/news/finance-and-economics/21607851-setting-up-rivals-imf-and-world-bank-easier-running-them-acronym

[Mr Mansfield.]

US were happy when they were hoarding China's reserve but after crashing the global economy then using kifua to print dollars (and undervalue chinese/saudis debts]; chinese have been divesting their historic gazillions of reserves around the world.

More scattered knowledge,

The Chinese are still holding the usa bonds to hedge against a stronger Yuan since its a major trading nation,A stronger yuan against usd means less exports,

Secondly,China economic growth has slowed from 11%-6% and that means industries making losses,they are supplying credit and equipments to Asia and Africa to stimulate growth in their industries and economy at large,

Without Prejudice.

[MOON Ki]

chinese have been divesting their historic gazillions of reserves around the world.

I'm going to include this one with what Mr. Mansfield calls "scattered knowledge".    Apart from Pundit of Nipate, here are how people explain the drop--and it's not been "gazillions"--of China's reserves:

"Blame Capital Flight For China's Biggest Ever Fall In Forex Reserves"

http://www.forbes.com/sites/gordonchang/2014/10/19/blame-capital-flight-for-chinas-biggest-ever-fall-in-forex-reserves/

"balance-of-payments department, cited the end of the quantitative easing policy as a main factor contributing to the decline, adding there were no risks or problems."

http://www.marketwatch.com/story/what-next-after-chinas-foreign-reserve-fall-2014-10-26

Please pay attention to: (a) the red and (b) the person doing the talking; he's another guy who probably know more on such matters than Pundit of Nipate.

" speculative capital is being pulled from the country."

http://www.bloomberg.com/news/articles/2014-10-16/china-s-reserves-retreat-from-4-trillion-mark-as-outflows-seen

Those billions if divested world wide...will lift many people out of poverty.

Do you have any understanding of why countries hold foreign-exchange reserves?   Do you understand why China holds the most, but the USA holds less than some developing countries?   

[RV Pundit]

Like Mansfield you've gone into lots of the usual nitpicking and lots  googling just to make a point. I suggest you keep abreast with what is happening outside the US regularly and you won't have to bombard us with links; which are a dime  a dozen.China has 4 trillion reserves. They would keep most of it as USD (because USD is or was the global currency) or EURO or Yen for purpose of trading and INVEST the extra...in US tbill and tbonds..but US and EU has pretty much screwed themselves..and for the last few years China has been looking for where to park the i...and this is what get me excited as Kenyan/African..because if we play it right...we could be swimming in money to solve many of our problems.

Manfield think there is a lot of capital...but which capital..hot money created in wallstreet...which come and go..crushing the economy in the process....or 50 yr maturing loan from China or WB.

Bottomline; Everyone is facing EAST (china) for a reason. MONEY.

Who you have imagine somebody lending kenya money to build SGR previously? 450B!   

chinese have been divesting their historic gazillions of reserves around the world.

I'm going to include this one with what Mr. Mansfield calls "scattered knowledge".    Apart from Pundit of Nipate, here are how people explain the drop--and it's not been "gazillions"--of China's reserves:

"Blame Capital Flight For China's Biggest Ever Fall In Forex Reserves"

http://www.forbes.com/sites/gordonchang/2014/10/19/blame-capital-flight-for-chinas-biggest-ever-fall-in-forex-reserves/

"balance-of-payments department, cited the end of the quantitative easing policy as a main factor contributing to the decline, adding there were no risks or problems."

http://www.marketwatch.com/story/what-next-after-chinas-foreign-reserve-fall-2014-10-26

Please pay attention to: (a) the red and (b) the person doing the talking; he's another guy who probably know more on such matters than Pundit of Nipate.

" speculative capital is being pulled from the country."

http://www.bloomberg.com/news/articles/2014-10-16/china-s-reserves-retreat-from-4-trillion-mark-as-outflows-seen

Those billions if divested world wide...will lift many people out of poverty.

Do you have any understanding of why countries hold foreign-exchange reserves?   Do you understand why China holds the most, but the USA holds less than some developing countries?   

[Mr Mansfield.]

China has 4 trillion reserves.

(a) HYPE,The Chinese money is in government hands,The west money is in private hands,

They would keep most of it as USD (because USD is the global currency) or EURO or Yen for purpose of trading and INVEST the extra...in US tbill and tbonds

(b) That is correct,

but US and EU has pretty much screwed themselves

(c) Wrong,The West had its fair share of high economic growth rates in 1940s,1950s,1960/70s when they were building there infrastructure,that is roads,energy and rails,that creates commodity demand which boosts manufacturing in industries like cement,copper and steel..by the time the Chinese made an about turn on communism in 1978,the west had already solved its infrastructure deficit and that made its economy to slow down while China economy was booming due to infrastructure projects but since now the Chinese infrastructural deficit is almost done growth has slowed from 11%-6% and will continue to slow,attention now shifts to Africa,

this is what get me excited as Kenyan/African..because if we play it right...we could be swimming in money to solve many of our problems.

(d) Your excitement is IDIOTIC,The Chinese came to Kenya and say they will build the rails with two conditions:

(1) The finance the project which means they earn interest,that is very wrong because if the gov of Kenya brought together kenyan commercial banks which hold hundreds of millions and kenyans who are holding 150BN on M-shwari,we would be able to benefit the mwanachi by financing and earning interest,

(2) The Chinese supply building materials like rails,that is a wasted opportunity of building capacity of our local steel industry and creating jobs,

Manfield think there is a lot of capital...but which capital..hot money created in wallstreet...which come and go..crushing the economy in the process....or 50 yr maturing loan from China or WB.

Bottomline; Everyone is facing EAST (china) for a reason. MONEY.

Who you have imagine somebody lending kenya money to build SGR previously? 450B!   

(e) Like I've said again and again,there is an oversupply of capital/money in the world,To put the numbers to perspective,The Chinese gov is holding $4TN,The BOJ FED ECB have pumped over $5TN to private commercial banks since 2009 while you have another over $20TN sitting in offshore accounts Vs Africa infrastructural projects worth $93BN annually,Don't you see there is oversupply of cheap money because too much money means concessional loans due to competition?

Other examples,The Chinese lend us 300BN to build SGR,When the Kenya gov sold the Eurobond,It was oversubscribed 8X mostly by the west,they were ready to give Kenya $8BN while in Rwanda,when they said they want $400MN,The west was ready to give $3.2BN,All these will give more room for concessional loans and better deals for Africa,it therefore baffles me when i see you praising the Chinese,

The purpose of these multi-lateral financial institutions is to create WIN-WIN situations between the East and the west through joint financing schemes where both sides of the world benefit in mega projects in Africa and Asia,

Streamline your knowledge,

Without Prejudice.

[RV Pundit]

Mansfield,
You're still talking lots of nonsense. You cannot compare private capital -like EuroBond- [that wall street shylocks  play around with] with loans from banks like Chinese,ADB, WB, IMF,ECB and such banks..that lent at CONCESSIONAL basis..with long grace period..and with even longer maturity periods. These are loans  that GOV borrows..to invest in really long time projects...like educating the next generations of workers and leaders.

This other capital..be it from wall streets or from kenya banks [which already max out buying treasury's tbills and tbonds]...has always been there...but at interest rate of? with what conditionally?

Chinese have tonnes of money that everyone wants. Only those who positioned themselves well, will get it. Telling us to face West, when our colonial master is busying learning Chinese is the height of utoto.

[Mr Mansfield.]

You cannot compare private capital with loans from banks like Chinese,ADB, WB, IMF,ECB and such banks..that lent at CONCESSIONAL basis..with long grace period..and with even longer maturity periods.

(a) The IMF,WB,ADB are formed by member governments,we can simply say they are governments,

(b) They get their revenues from:
(1) Member governments,
(2) Private institutions like banks and funds,

What does that tell you?That the Kenya government,Through PPP can directly enter into concessional arrangements with private local and foreign investors,world bank does not have that monopoly,What's important is the investor to receive a return on investment,

(c) A Eurobond is a foreign denominated loans,Years ago we used to get these debt through institutions like world bank but through Eurobonds we get it directly from the market,everyone even Chinese sells them,even you pundit can buy them,

Chinese have tonnes of money that everyone wants. Only those who positioned themselves well, will get it. Telling us to face West, when our colonial master is busying learning Chinese

The Chinese hold are very small percentage of the total money in the world,the also receive over $100BN in investment from abroad mainly from the west and nobody has said that we face west,we cannot mortgage ourselves to the Chinese when we have many options to make better deals,Of course we have 1.3BN people who speak Chinese,about 20% of the world population while the rest 80% of the world speaks different languages like English,French,spanish,et etc we live in a global world and  yu want to do business with them,you have to learn Chinese,

Without Prejudice.

[RV Pundit]

We are nearly getting there. Let paraphrase again. China is offering tonnes of development loans to gov at near concessional loans or sometimes at 60% grant. Our gov..be it in Africa..or Asia..or Europe..are queing for these cheap loans.Anybody not taking advantage of that..is a moron.

Gov,parastal and private sector can similar take advantage of the debt market..be it tbill/tbond floated by CBK..or through NSE or LSE or NYSE..of course with a lot of cautions. Such kind of loans have brought forth financial crisis...latest Argentina,Greece,Asia financial crisis,global crisis of 2007, the great depression etc etc. Those are your loan sharks or shylocks.

In the meantime multilateral lenders like IMF and WB should allow China to pump more capital into it...so IMF and WB can truly respond to contemporary crises...right now the bank is a joke..that now passes for NGO doing poverty work...instead of a bank that can finance lapset yote at one go.

And you should know who has stalled reforms in IMF and WB...USA.

The countries that truly have real money to lend to others i dare say are China, Arab nations(Saudi esp) and maybe Norway. US,Japan and Europe are playing poker...indebted to the eye balls..yet somehow lending money They are simply printing money. US gov, individuals, companies and states or counties..are indebted to the eyeballs..they have max out all their 100 credit cards..and yet they somehow send the same money as outflow investment to China or Kenya...talk of over-leveraging. The same case with Japan and Europe...debts of more than 100%...Japan 250% or about.

CHINA i repeat is only country you want to focus going forward. They have real money backed by real fundamentals.

You cannot compare private capital with loans from banks like Chinese,ADB, WB, IMF,ECB and such banks..that lent at CONCESSIONAL basis..with long grace period..and with even longer maturity periods.

(a) The IMF,WB,ADB are formed by member governments,we can simply say they are governments,

(b) They get their revenues from:
(1) Member governments,
(2) Private institutions like banks and funds,

What does that tell you?That the Kenya government,Through PPP can directly enter into concessional arrangements with private local and foreign investors,world bank does not have that monopoly,What's important is the investor to receive a return on investment,

(c) A Eurobond is a foreign denominated loans,Years ago we used to get these debt through institutions like world bank but through Eurobonds we get it directly from the market,everyone even Chinese sells them,even you pundit can buy them,

Chinese have tonnes of money that everyone wants. Only those who positioned themselves well, will get it. Telling us to face West, when our colonial master is busying learning Chinese

The Chinese hold are very small percentage of the total money in the world,the also receive over $100BN in investment from abroad mainly from the west and nobody has said that we face west,we cannot mortgage ourselves to the Chinese when we have many options to make better deals,Of course we have 1.3BN people who speak Chinese,about 20% of the world population while the rest 80% of the world speaks different languages like English,French,spanish,et etc we live in a global world and  yu want to do business with them,you have to learn Chinese,

Without Prejudice.

[Mr Mansfield.]

or sometimes at 60% grant.

(a) Can you provide evidence of such a case of 60% grant and figure and also avail evidence of who got the mining rights and value of minerals in such a country to evaluate the amount of thuggery,

Gov,parastal and private sector can similar take advantage of the debt market..be it tbill/tbond floated by CBK..or through NSE or LSE or NYSE..of course with a lot of cautions. Such kind of loans have brought forth financial crisis...latest Argentina,Greece,Asia financial crisis,global crisis of 2007, the great depression etc etc. Those are your loan sharks or shylocks.

(b) Monetary policy,

Globally,Most foreign debt whether by Chinese or Americans is in USD terms which is the global currency,What that means is that what happens in the USA affects the global debt market you see,When the FED raises the interest rates,USD appreciates,When it lowers the interest rates,the dollar depreciates,that means when the Federal reserve raised the interest rates from 1994-7,The USD appreciated against all other currencies,that means the Asian nations which were heavily indebted suffered because inflation went up,currency lost value and economy crumbled,its the same thing happening now,the best time to borrow was 2008-2013,With the fed finished with QE and is about to raise interest rates,Nations will suffer as dollar gains value,

In the meantime multilateral lenders like IMF and WB should allow China to pump more capital into it...so IMF and WB can truly respond to contemporary crises...right now the bank is a joke..that now passes for NGO doing poverty work...instead of a bank that can finance lapset yote at one go.

And you should know who has stalled reforms in IMF and WB...USA.

These institutions like IMF or WB will always advance the agenda of big powers,we need local based solutions and strike better concessional deals with private investors,

The countries that truly have real money to lend to others i dare say are China, Arab nations(Saudi esp) and maybe Norway. US,Japan and Europe are playing poker...indebted to the eye balls..yet somehow lending money They are simply printing money. US gov, individuals, companies and states or counties..are indebted to the eyeballs..they have max out all their 100 credit cards..and yet they somehow send the same money as outflow investment to China or Kenya...talk of over-leveraging. The same case with Japan and Europe...debts of more than 100%...Japan 250% or about.

CHINA i repeat is only country you want to focus going forward. They have real money backed by real fundamentals.

You are praising Arabs and Chinese because you believe media hype of big money which is owned by the state unlike the west where there is even bigger money in private investors,QE is unconventional monetary policy and has been in the world for decades,its buying debt of private commercial institutions to lower debt yield and spur growth...to add more,the west is behind the development of China and Arab world through PPP,

Without Prejudice.