China’s Debt Slaves are facing Socio-Economic Collapse

22 May 2023

The Chinese government is calling in loans from dozens of countries in its debt, and it is leading to an extremely rapid socio-economic collapse in many Asian and African nations that are unable to pay their dues. 

Countries like Pakistan, Kenya, and Zambia are struggling to provide their citizens with energy and educational services because tax money normally allocated for this is now needed to pay back the Chinese. In Pakistan, for example, millions of textile workers have lost their jobs over the past few weeks because the state-run electricity provider now can’t afford to provide electricity to factories. In Kenya, civil service workers simply did not receive their salaries last month, and in Zambia inflation has soared to 50%, unemployment has hit a two-decade high, and the national currency has lost 30% of its value in a matter of months. 

There was a lot of talk about Zambia rising as a leading Christian nation in recent years, but much of that seemed to have been exaggerated, as they seemingly failed to take the absolutely vital Biblical proposition that “the borrower is a slave of the lender” (Proverbs 22:7) into account. Without applying the wisdom of Scripture, true, sustainable prosperity will forever elude us. Even a wealthy country such as the United States currently has a national debt of $31.4 trillion, $1 trillion of which is being held by China. Despite this, the US government is currently in talks about raising the debt ceiling even further

The Pactum Institute condemns the reckless and destructive behaviors of governments who continually borrow more money without ever paying back their loans, thereby effectively enslaving their own people to their enemies.