China's obsession with financial secrecy is causing problems overseas ... even when it's giving $55M away
CNN
China is once again causing controversy in Africa for doing something that, in theory, should win praise -- giving away money.
This week, it emerged Beijing had secretly gifted Sierra Leone $55 million to fund a controversial "fishing harbor" on an undeveloped stretch of coastline, which supports the local fishing industry, borders protected rainforest, and is home to endangered turtles and pangolins. The deal only came to light after residents were told by officials in the Whale Bay area, where the harbor is planned, that there was a hold on any land exchanges because of a Chinese deal, says Jane Aspden Gbandewa, who runs an an eco-tourism business in the area.
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