Beijing – The United States has frozen nearly USD 9 billion in Afghan assets in its territory since the Taliban took control of the country. A decision to impose sanctions on the Taliban could be taken at the forthcoming G7 meeting. In such a scenario, China has announced to provide financial assistance to Afghanistan. China has said the aid is needed to fill the economic vacuum created in Afghanistan in recent days. China, which already has a debt trap around developing countries in Asia and Africa, is now preparing to include Afghanistan on the list.
In the last seven days, the European Union and the United States have blocked funding for development work in Afghanistan. The Taliban will not use the USD 370 million in aid, approved by the International Monetary Fund, for Afghanistan. At the same time, the United States, European allies and international organisations have not recognised the Taliban regime in Afghanistan. Although Russia has supported the Taliban’s occupation of Afghanistan, the group has not been removed from the ‘Terror List.’
The Chinese Foreign Ministry criticised the stand of Western countries. Chinese Foreign Ministry spokesman Wang Wenbin criticised that the decision by the United States and European countries is creating a financial crisis in Afghanistan. Wenbin said that China would play a positive role in building infrastructure and assisting Afghanistan. Although not announced, Wenbin has hinted at financing the Taliban regime in Afghanistan.
China has invested billions of dollars in Afghanistan’s infrastructure. The Chinese government has blamed the United States, the United Kingdom and Australia for the chaos in Afghanistan. Chinese analysts say the turmoil in Afghanistan, following the US withdrawal, has hampered Chinese investment. But even with this small investment, international analysts point out that China has its eyes set on the rare mineral wealth worth three trillion dollars in Afghanistan.
Afghanistan is claimed to have vast reserves of gold, lithium, copper, fuel and other minerals. The US Department of Defence had said in 2010 that Afghanistan would become a ‘lithium-rich Saudi Arabia’ if its minerals were mined. This lithium stock is attracting China to Afghanistan. At the same time, after the US withdrawal, Afghanistan could be a milestone in China’s Belt and Road plan.
China appears to have signalled its support for the Taliban regime in Afghanistan, keeping this in view. But like other developing countries in Asia and Africa, China’s communist government is preparing to tighten the noose of the debt trap around Afghanistan with this funding. For this, the brutal and dictatorial regime of the Taliban can be advantageous for China. That is why China firmly supports the Taliban. But Chinese President Jinping’s support for the Taliban has upset the Chinese people. Earlier this month, Chinese Foreign Minister Wang Yi met with Mullah Baradar, the Taliban’s second-in-command. This was followed by posts on Chinese social media expressing displeasure.
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