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Nairaland Forum / Nairaland / General / Politics / China Plans To Scam Nigeria - Max Amuchie (34189 Views)
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Re: China Plans To Scam Nigeria - Max Amuchie by Tonyosas101(m): 3:56pm On Apr 14, 2016 |
quackmaire:lol, why you con day blast me nah..am not in support of the china deal/loan or whatever someone broke it down earlier that its a welcome deal and someone again said otherwise am not an APC fan for your info but i support everything that will move Nigeria forward.. I thought some ministers went with PMB to China, they ought to see the scam in it or are you better than them? Please be nice when quoting people with you ideas...Good day bro |
Re: China Plans To Scam Nigeria - Max Amuchie by rottennaija(m): 3:57pm On Apr 14, 2016 |
ticker: Mobil, she'll, chevron, total, agip, conoil and many others are not Chinese companies, why have they not built any refineries in Nigeria? I mean a single one? Add that to your write up 3 Likes 1 Share |
Re: China Plans To Scam Nigeria - Max Amuchie by DajinDaho(m): 3:58pm On Apr 14, 2016 |
portside: portside:[quote author=portside post=44690828]Tell them ohhh, am very happy on this enlightenment with this I can boldly argue my points with some PMB loyalist who has been blinded by shame now but doesn't want to believe that PMB foreign trips are futile. The author have already told you that he is not expert in finance ,hate or like the presidential entourage included many financial gurus. But because a pessimistic blogger shared his opinion you scums to it . pmb is using short terms measures to archive mid and long term goals |
Re: China Plans To Scam Nigeria - Max Amuchie by TheGoodJoe(m): 3:59pm On Apr 14, 2016 |
BiafranNigerian: Even if we use Julius Berger or an indigenous contracting firm, most of the product will be but cheap from China and sold at a higher rate in Nigeria. That is what importation business is all about. So why should Julius Berger doing it, without helping in our pressure on the dollar and they do the same work, without giving us a loan to boost our infrastructural development? |
Re: China Plans To Scam Nigeria - Max Amuchie by manny4life(m): 4:00pm On Apr 14, 2016 |
TheGoodJoe: I'm sorry I don't buy into the whole diversity stories because you and I know very well we don't have to lean on China for economic diversity, let's be honest with ourselves. Someone suggested True Federalism at all levels. What's hindering true economic diversity is nothing short of tribalism and distrust among ourselves. Imagine the rail saga going on at the National Assembly, the Second Niger Bridge, how about seaports, or the airports saga and the list is endless.We can't talk about infrastructures without hinting on electricity, the last I checked, NEPA as divided into separate units, so what happened? Buhari's chant during campaign was "CHANGE". If at this time we cannot figure out why our refineries are not working, even if China build newer ones, same problems plaguing the old ones will be revisited on the new ones. Like I've always asked, if China is giving us all these, at what expense? Instead of us dealing with our institutional and regional problems, we're making it seem like China is our solution... 1 Like |
Re: China Plans To Scam Nigeria - Max Amuchie by jpphilips(m): 4:01pm On Apr 14, 2016 |
greenpasture: First human being after 3 pages of goats, let me add to yours, if we divest Dollars to yuan, our Foreign reserve will Quadruple because of exchange rate differential, since China is Nigeria's biggest trading partner, it is a good move. 2) America is a debt laden country, it won't be long before another bubble occurs like we saw in 2008, Donald Trump has said it severally, despite the criticism he gets from the establishment who want to downplay the real state of the US economy, never mind that Ted Cruz was one of the GOP senators who held Obama by the Jugular when they nearly defaulted on their loans. we lost a lot of foreign reserve in the process during Soludo's economic magic era not any fault of ours but the fact that the economic melt down weakened the dollar. Most Nigerians don't seem to realize how badly our economy bleed with those Master cards and Visa they use. We lose money while America smile to the bank, never mind that the US shale revolution put us in this mess in the first place, it is unwise to run to them for help. Even American corporations are all manufacturing in China so getting American goods with Yuan (A currency weaker than $$) is the best deal ever. The Issues we need to be discussing are how Washington will take it? definitely not lying down, Gaddafi's African dinar proposal landed him in 6ft, Buhari should understand that he just dealt a severe blow to the western economy, May God protect him for us when the hammer of washington falls. 3) The Chinese Yuan is very unstable, if the Chinese economy shrinks, we will lose a substantial sum in our overall Foreign reserve, I think that is why Buhari tied the exchange of goods and services as an addendum to the deal (smart move). 9 Likes 2 Shares |
Re: China Plans To Scam Nigeria - Max Amuchie by Tonyosas101(m): 4:03pm On Apr 14, 2016 |
TheGoodJoe:you need to modify your post please..i think you meant "if am owing someone" and not "if someone is owing me" anyway, if both parties (you and the someone) agrees to the terms and conditions..i see NO scam in it |
Re: China Plans To Scam Nigeria - Max Amuchie by plaetton: 4:03pm On Apr 14, 2016 |
1 Like |
Re: China Plans To Scam Nigeria - Max Amuchie by Mboi2: 4:04pm On Apr 14, 2016 |
SamuelAnyawu:Pls Mr Man speak for yourself. Are you Ibo? Do you know anything about this? 1 Like |
Re: China Plans To Scam Nigeria - Max Amuchie by sherif4owo(m): 4:05pm On Apr 14, 2016 |
The writer might be right and also can be wrong. Too many speculations in the write-up. Two sides of a coin!!! Only the players (Chinese govt and our Govt) and those who get the full details of the deal, which obviously the writer of this article is not one of them, might understand because there are many good things that might also come out of the deal. ![]() |
Re: China Plans To Scam Nigeria - Max Amuchie by desmond2pk: 4:06pm On Apr 14, 2016 |
Anybody who does business with Chinese companies would know that they want dollar, not yuan 1 Like |
Re: China Plans To Scam Nigeria - Max Amuchie by TheGoodJoe(m): 4:06pm On Apr 14, 2016 |
manny4life: Buhari has nothing to do with why we do not have refineries now. He was part of those who made us have refineries before. When you say we do not have to lean on China, I ask. Look around you. The economy was crashing, little infrastructure to show for our massive Crude Oil Sales for decades. I was having sleepless nights how we would source for fuel to reducing the suffering of the masses and a possibility of an uprising by people not educated about the true situation of things. We need China because, there is no other way to generate jobs, power, infrastructure and refineries. It is easy to say we do not need China. The question is what is the alternative. Federalism will not bring Petrol to the country or release the Pressure on the dollars in our reserves. |
Re: China Plans To Scam Nigeria - Max Amuchie by whitebeard(m): 4:07pm On Apr 14, 2016 |
enemy of progress instead of you to be thinking of a plan for the come back of naira you are busy saying nonsense..!! 1 Like |
Re: China Plans To Scam Nigeria - Max Amuchie by manny4life(m): 4:07pm On Apr 14, 2016 |
Anyway, if my fellow Nigerians are happy with the deal, so be it.. Yall should not come crying few years later like some of Buhari's supporters are doing so already. Not that I like him, but in Trump's voice, "we'll make Nigeria great again. |
Re: China Plans To Scam Nigeria - Max Amuchie by billyG(m): 4:08pm On Apr 14, 2016 |
ticker:Abeg pack well & stop spreading falsehood,Y didnt u tell Ndigbo,china are bad pple donot flood 9jeria with chinese goods,wher is d common sense in buying goods in china & paying in $,d $ is economic slavery,hav u seen d clause of d loan we collect loan in yuan & pay in yuan,na today 9jeria do biz with china.even if they giv us loan in yuan we can easily convert it $ d diff is not much,# is much worthless. 1 Like |
Re: China Plans To Scam Nigeria - Max Amuchie by jpphilips(m): 4:10pm On Apr 14, 2016 |
Chukzyfcb: Nigeria is operating a fixed currency regimen, like a subsidized currency in lay man's terms, since our oil revenue come in dollars being the world's trading currency, it makes sense to subsidize it more than others. If we had trade interest in Euros and Pounds more than dollars, the CBN will reverse the trend, it is an economic necessity not an accident. So the more we lose forex reserves (dropping crude price) the less money we have to support those other currencies. Now, since China is a manufacturing economy that has everything we need (the Computer you are typing with is a good example), we need to exploit their weak currency since we are equally running out of $$. Emeka will open LOC with a Chinese company and his bank will pay the company $$ from CBN's reserves that is drying up, now the CBN says I need to get Yuan for Emeka which is lower than the dollar to accommodate more Emekas and more goods. Because the $$ is stronger than the Yuan, Emeka's goods will land cheap and you will stop complaining about high cost of living. Now Clap for Buhari!! 5 Likes |
Re: China Plans To Scam Nigeria - Max Amuchie by TheGoodJoe(m): 4:11pm On Apr 14, 2016 |
Tonyosas101: Thanks but that is exactly what I meant. Take me as China and the person owing me is Nigeria. China is suggesting that they will do the work (Infrastructure development) instead of Nigeria getting someone else to do a job for them. China will take the profits as the interest from the debt. 1 Like |
Re: China Plans To Scam Nigeria - Max Amuchie by Nusaf: 4:12pm On Apr 14, 2016 |
ticker:What makes you think that the economic team is unaware of all these points being pointed out? |
Re: China Plans To Scam Nigeria - Max Amuchie by marxweller247: 4:13pm On Apr 14, 2016 |
chinese-nigeria currency swap & investment deal, a welcome development. Igbo's shout alellujar |
Re: China Plans To Scam Nigeria - Max Amuchie by 30secs(m): 4:13pm On Apr 14, 2016 |
All this prophets of doom sef... God pass una |
Re: China Plans To Scam Nigeria - Max Amuchie by megama: 4:14pm On Apr 14, 2016 |
Goke7:can somebody tell me if this loan can fix our local industries or cripple them futher,for me as a businessman I know that China is only an export oriented country. They must always protect their interest first. By the way why not reduce our reserve by $2 billion. Instead of borrowing with interest, NIGERIA be wise. |
Re: China Plans To Scam Nigeria - Max Amuchie by danfidel01(m): 4:14pm On Apr 14, 2016 |
I just noticed an interesting trend in this thread.... . .. While those who know about economics and the exchange rate talk extensively for and against the motion and enlighten us more and more, those who know little or nothing about this are the ones exchanging words and quoting themselves...... Let people understand topic this very very well before coming here to prove their point rather than just take sides or show of their mediocrity 1 Like |
Re: China Plans To Scam Nigeria - Max Amuchie by Tonyosas101(m): 4:19pm On Apr 14, 2016 |
TheGoodJoe:nw i get...tnx 4 d insight 1 Like |
Re: China Plans To Scam Nigeria - Max Amuchie by billyG(m): 4:19pm On Apr 14, 2016 |
jumas:Ndigbo shld congratulate Buhari 4 this,they will b d major biz benefitiry of this currency swap,Ndigbo kwenu!Buhari kwenu!! |
Re: China Plans To Scam Nigeria - Max Amuchie by TheGoodJoe(m): 4:19pm On Apr 14, 2016 |
jpphilips: I also put the American anger in context in weighing the pros and cons of this deal. The fact of the matter is, our economy was crashing. With or without the anger of the Western World, we were doomed. What ever measures we put in place was short term. The Telegraph article which circulated and carried by a lot of Western papers was the first strike. It was not a coincidence. However, the speed at which the projects are completed and jobs are created will reduce the effect of whatever the Western World have in store for us. |
Re: China Plans To Scam Nigeria - Max Amuchie by Saintp(m): 4:23pm On Apr 14, 2016 |
Reyginus:Hahaha, bros, you have studied this forum very well. Let's just watch as Zombies battle Wailers in this match. Be the referee naa, me, i go be linesman. |
Re: China Plans To Scam Nigeria - Max Amuchie by TheGoodJoe(m): 4:23pm On Apr 14, 2016 |
megama: China Imports a lot of raw materials. Like Iron Ore and Oil. |
Re: China Plans To Scam Nigeria - Max Amuchie by Nobody: 4:26pm On Apr 14, 2016 |
Saintp:Lol. Honestly, I don't even want to be a spectator. |
Re: China Plans To Scam Nigeria - Max Amuchie by Tesley: 4:29pm On Apr 14, 2016 |
gbens2000: Bro,Angola is doing very well... Guy google that country. They have the best oil management system and since the discovery and after their war,they have comeback strong...very strong....check. Google Angola up. |
Re: China Plans To Scam Nigeria - Max Amuchie by jpphilips(m): 4:30pm On Apr 14, 2016 |
manny4life: You need to understand that Chinese goods are not competing with our locally made goods for two reasons; 1) Weak Yuan 2) Infrastructure decay (which is part of the deal anyways) ask yourself, how much Petrol does an average tailor use to make a cloth? do you expect that cloth to be cheap absent the tailor's overhead costs? Since the deal comes with infrastructure development, the overhead cost of our local manufacturers will be greatly reduced, with that, they can compete with Chinese imports, ask yourself; Americans import from China, does it mean they have lost all their manufacturing ability? In the short run, the local manufacturers are fvcked (they are gonna turn importers anyways), in the long run there will be serious competition that will edge our prices in the interest of the middle class. The CBN still reserve the right to utilize import restrictions if things go south. truth is; locally made goods are very expensive, most Nigerians can't even afford it. |
Re: China Plans To Scam Nigeria - Max Amuchie by PrinceMario(m): 4:32pm On Apr 14, 2016 |
jpphilips:You're a genius sir. Thumps up for the simplified explanation. |
Re: China Plans To Scam Nigeria - Max Amuchie by billyG(m): 4:33pm On Apr 14, 2016 |
ElCount:Wailer i see u!LOL. |
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