Ukraine borrows money from China, but it’s not clear how much and under what conditions.
Kyiv throws itself into the arms of Beijing, convinced that it will be able to outsmart it and avoid the fate of countries that fell victim to China’s debt-trap diplomacy.
Despite declaring democratic values, the Ukrainian authorities easily disregard transparency when it came to cheap money. They shook hands on the deal, only admitting it a week after. A month later, the provisions of the agreement are still kept in secret.
Kyiv seems to be ready for anything in exchange for easy money. When it comes to borrowing from the International Monetary Fund, official Kyiv commits to reforms. When Kyiv needs cash from Beijing, it gladly praises China’s Communist Party.
In an attempt to gain China’s favor, Kyiv went as far as taking back Ukraine’s support for the United Nation’s statement on violations of human rights in China. Was there any explanation? None. The Foreign Ministry hasn’t addressed the decision publicly for over a month despite media requests, including from the Kyiv Post.
It looks like the deal with China did have secret conditions that the Ukrainian authorities do not want to talk about.
But the West is watching and if Kyiv gets into China’s debt trap, the European and American allies might not rush to the rescue. This proves how short-sighted the Ukrainian officials are.
China is infamous for expanding its influence by targeting developing countries in Europe, Africa and Asia. It lends big so the borrower cannot pay back and has to give away some critical parts of the economy to China as collateral. And If Ukraine becomes yet another victim of Beijing, the West might be reluctant to give it a hand.
Ukraine is, admittedly, in a tough spot. Both the United States and Europe have major trade ties with China. While U.S. President Joe Biden’s top foreign policy priority appears to be containing the excesses of a rising and militaristic China, Europe so far is reluctant to go along.
However, it’s not an excuse to blindly play into the hands of China. While trying to get Chinese money for building roads and bridges, Ukrainian officialdom should be careful not to burn bridges with its biggest allies in the West, with whom it claims to share democratic ideals.
After all, when it comes to supporting Ukraine’s territorial integrity, China is no friend. It often sides with Russia and, of course, the Beijing regime is one of the greatest human rights abusers in the world.
Meanwhile, much can be done to strengthen ties in the West among many nations that genuinely want Ukraine to succeed and that share the values that Ukraine aspires to uphold. And more can be done to sever trade and other ties with those forces who mourn the demise of the Soviet Union.
