RE: Huge CHINA news coming - hold tight14 Apr 2024 14:09
Consider these words from a TL commentator.
As for China, TL should maintain good relations but stronger relations with the United States and Western Europe will maximize and accelerate economic development and prosperity.
Yes, China has helped Timor-Leste financially in building the Presidential Palace, Foreign Affairs Ministry and F-FDTL Headquarters as well as other soft power activities like providing scholarships for Timor-Leste youths.
But it does not finance infrastructure development as this article argues.
In fact China has won the contracts to build power grid, road, and other projects using Timor-Lesteβs money.
So China may have recoup its investment in the three landmark buildings and scholarship by winning contracts. A normal game played by almost all countries in the world.
One have to admit that the Chinese approach to international development and financing is to curtail bureaucracy to make its resources, including funds and technology accessible to other countries, especially through the Belt and Road Initiative.
So many countries borrowed from China without proper due diligence. Therefore, some fail miserably to the so-called Chinese Debt Trap, like Sri Langka.
But a well calculated approach in seeking Chinese loans will only be beneficial to developing countries, including Timor-Leste.
Being member of ASEAN, WTO, CPLP, and key founder of g7+ provide a good opportunity for Timor-Leste to reap the benefits of engaging actively with the international community, especially in science and technology, finance, and turning the international arena as a marketplace for its goods and services.
It sounds too rousy but it is dueable if Timor-Leste get its act together by avoiding politico-security crisis like 2006 and political deadlock that almost paralyzed development in 2017 and 2018.
Now it is up to us the East Timorese to turn these opportunities into real benefits by addressing the pressing needs of basic infrastructure and improving health and education our resources, especially the Petroleum Fund more effectively and efficiently to benefit the East Timorese.
Another important dimension is to mobilize the private sector and foreign direct investment to help develop Timor-Leste raising income of the people as well as raising revenues for the state budget to complement withdrawals from the Petroleum Fund.
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