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Despite expectations, China not rushing to cash in on post-U.S. economic collapse in Afghanistan
[Just The News] With Afghanistan's economy reeling in the aftermath of the abrupt U.S. withdrawal from the country in August, the ruling Taliban hopes — and Western democracies fear — that China will come to the regime's economic rescue. Such hopes and fears may prove slow to materialize, however, thanks to Beijing's ingrained economic pragmatism coupled with its apprehensions about Afghanistan-based jihadist support for the Uyghurs, China's oppressed Muslim minority.The Afghan economy is collapsing. For decades, the country has been largely dependent on foreign aid, most of which has been halted since the Taliban seized control in August. The Taliban's U.S. bank accounts have been frozen. Inflation is soaring, as is unemployment. Many workers who have jobs have not received their salary for months. The U.N. Development Programme (UNDP) expects 97% of the population to fall below the poverty line next year. Historically, the country has been plagued by drought, corruption, and under-utilization of human capital. Other issues, such as brain drain and capital flight have intensified since the fall of Kabul in August. Widespread sanctions have further complicated the country's economic stability. Posted by: Besoeker 2021-12-05 |
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