Sri Lanka crisis

The_Librarian said:
All started by this

We are on a similar trajectory.
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Scary stuff ...............

Power outages, staff not being paid, huge Chinese loans - all too familiar.
Sri Lanka’s daily scheduled power outages will be reduced to three hours a day from Monday (23), Public Utilities Commission of Sri Lanka (PUCSL) Chairman Janaka Ratnayake said.
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Sri Lanka’s struggle is extreme, but it reflects conditions across dozens of countries from South Pacific islands through some of the poorest in Asia and Africa that have signed onto Chinese President Xi Jinping’s Belt and Road Initiative. The total debt of poor countries is rising, raising risks others might run into trouble.
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Indeed there are similarities, but more concerning is the unemployment rate differences.
SA is indeed on a slippery slope considering this news.

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The_Librarian said:
All started by this

We are on a similar trajectory.
Click to expand...
With one significant difference, we have people here who are capable of next-level destruction and criminality on any day. Imagine when they become part of a herd that's intent on causing chaos. Scary part is that the low-hanging fruit will be you know who....
 
TEXTILE GUY said:
Scary stuff ...............

Power outages, staff not being paid, huge Chinese loans - all too familiar.



Indeed there are similarities, but more concerning is the unemployment rate differences.
SA is indeed on a slippery slope considering this news.

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The fact that we have not yet collapses is a testament to the wealth of the country to keep us afloat. I believe we still have the highest unemployment rate in the world?
Eventually the well will run dry, especially if the government focusses more on social programmes to sway the voters instead of tackling growth or corruption.
 
Kieppie said:
The fact that we have not yet collapses is a testament to the wealth of the country to keep us afloat. I believe we still have the highest unemployment rate in the world?
Eventually the well will run dry, especially if the government focusses more on social programmes to sway the voters instead of tackling growth or corruption.
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I think its more a testament of the systems and infrastructure left behind by the government pre-1994. This is what has carried this country thus far.......as these systems and policies continue to be eroded, exploited, and modified to enable corruption on a larger scale,the sooner breaking point will be reached.
 
Anyone willing to buy a piece of land a few nautical miles off the Indian south coast?
 
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Sri Lanka have long struggled with poverty and in a time it was said that they eradicated extreme poverty, but they have been caught with Potemkin villages. The situation now is dire, they are in a economic crisis.
 
TEXTILE GUY said:
Scary stuff ...............

Power outages, staff not being paid, huge Chinese loans - all too familiar.

Indeed there are similarities, but more concerning is the unemployment rate differences.
SA is indeed on a slippery slope considering this news.

View attachment 1313604View attachment 1313606
Click to expand...

Most countries who are on 'huge' loans, or otherwise debt, misappropriate the loans, and the institutions and or countries who enable this recovery knows it very well, and then capitalise on that debt. It is not unique to the Chinese, by granting loans, you control.
 
That Reddit link mentioned that the government made a blanket ban on all types of farming that wasn’t organic and that has been a large part of the food scarcity and hence civil disruption
 
Really sad. I have two Sri Lankan colleagues in my team. Totally stand up guys, they say extended families back in Sri Lanka are really having a bad time.

The final stages or corruption at the highest levels. :(
 
Fulcrum29 said:
Sri Lanka have long struggled with poverty and in a time it was said that they eradicated extreme poverty, but they have been caught with Potemkin villages. The situation now is dire, they are in a economic crisis.
Click to expand...

Interesting
 
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