Lebanon turns to China to end financial crisis

Lebanon is in a deep crisis. This crisis has been going onsince the beginning of last year and to the horror of Labanese population, it still is very much prevalent in fact is at worse stage. At such a crucial time, Lebanon has turned to China for help.

According to the Associated Press, Lebanon is seeking to secure investments from China, while dwindling its chances of obtaining the support from the West and the Arabs to overcome its financial crisis. AP said in a report published today on Wednesday that Lebanon, which had long been an area of ​​competition between Iran and Saudi Arabia, is now at an important point in the escalation of tensions between China and the West, noting that the government of Hassan Diab, is currently seeking for Chinese support, on the background of lack of the progress in talks with the West and Arab states.

The economic crisis was at its prime when the price of bread rose for the first time in eight years. The Lebanese pound or lira has lost over 80% of its value in the global market. Years of corruption and wealth mishandling tied up with the lockdown is the reason for such a state of the middle eastern country.

Omar al-Hakim, a security guard from Tripoli, told Reuters that life has become very difficult here. Even the state can’t seem to find any solutions. They are just watching people suffer.

The government of Hassan Diab is done waiting for west or Arab countries to step in and help the nation survive and hence with a lot of hopes, is turning to China as helping the nation.

“We have moved very seriously towards China, but we are not turning our backs on the West … We are going through exceptional circumstances, and we welcome everyone who intends to help us,” AP quoted a ministerial official, who asked not to be named, as saying.

America on the other hand does not seem to enjoy Lebanon turning to China and has warned the Lebanese government against rapprochement with Beijing and turning towards the East will not solve all the country’s problems.  The US motive is still unclear. It clearly is not helping the nation nor is letting other countries help. Whatever the condition China puts on the table, the people in Lebanon are suffering and if this is how they can stabilize the country then government officials wil surely turn their backs on the West.