Today, in the context of this frequent occurrence of global debt defaults and increasing international cooperation, there is a central Asian country's approach.
Although its economy is not prosperous, Turkmenistan not only paid off every penny of the US$8.1 billion borrowed from China more than a decade ago, but also took the initiative to increase cooperation after the repayment. Not only did it double the natural gas supply, but it also jointly built a large project.
When this happened, many Western countries were stunned: How can there still a country be so trustworthy and take the initiative to "give gifts"? But the facts are there. This is not about feelings, but about faith. This faith also allows people to see the different friendship between China and Turkey.
Not everyone has this sense: China was really sending coal in the snow.
Looking back to 2007, although Turkmenistan had a lot of underground natural gas at that time, its life was not comfortable.
Although there are many resources, there is a lack of development conditions, and there is no smooth access to the sea. The export of natural gas can only rely on Russia for transit. The transportation cost is high, and the right to speak is not in its own hands.
Not to mention that Russia's cooperation went wrong that year. Natural gas exports suddenly dropped by more than half, and the national finances almost broke down.
At this crucial point, it is China that has come up with a solution.
China is not only willing to invest, but also contributes people and technology to help develop Turkmenistan's core natural gas field. At the same time, it builds a natural gas pipeline across Central Asia to transport these resources directly to China.
This is not casual talk, but the investment of real knives and guns. The entire project passed through the Gobi desert, with harsh climate and difficult conditions. Chinese engineers worked on it for several years. Finally, the pipeline was ventilated as scheduled and the natural gas was output stably.
This $8.1 billion loan is not a bad check, but a down-to-earth project.
China has no political prerequisites, does not interfere in domestic affairs, nor compels the other party to do anything, but according to the needs of the Turkish side to arrange the content of cooperation.
It was this loan and this pipeline that gave Turkmenistan the first time to really get rid of the "locked neck" bottom.
Russia is no longer the only buyer, and its export direction is no longer passive. For Turkmenistan, this is a turning point in the economic lifeline and the beginning of a friendship.
Debt without debt, Turkmenistan with proof of action
There are many countries in the world that refuse to pay back money after borrowing money, and some of them push back and forth and ask for relief. But this is not the case with Turkmenistan.
Since 2010, they have been paying back the money in step-by-step according to the agreement, neither complaining nor delaying.
Although the economic pressure is not small, they take out a part of the natural gas revenue every year, repay it on time, and finally settle the entire principal and interest of US $8.1 billion in 2021.
This is not a simple financial behavior, but a manifestation of national credit.
Internationally, when faced with debt, many developing countries often give priority to "getting by themselves first". As for paying back the money, that's a matter later. But Turkmenistan doesn't do that. They know that China is a friend who sincerely helps and can't treat trust as a joke.
Turkish high-level officials also specially released the news of the completion of repayment. The data is clear and the statement is clear, which is not only an explanation to China, but also a show to the world that we are an honest country.
This is unusual in the face of countries that are still cheating on debt issues.
In fact, there are also long-term considerations behind this repayment.
China is their most stable natural gas buyer. The contract is clear and the terms are clear. It does not make temporary changes, nor does it change because of market fluctuations. This partnership itself is a guarantee.
To keep this line is to keep the bulk of the national income. For Earth, keeping trust means keeping a rice bowl.
The gift is not enough, you have to send a "big red envelope"
After the payment of the money, Turkmenistan did not choose to "retire", but immediately proposed to deepen cooperation.
This time it is not a simple natural gas transaction, but directly increases the annual supply to 60 billion cubic meters and extends the cooperation period to 30 years.
For China, this is not a small number, but a long-term energy guarantee.
More notably, the two sides have also jointly pushed for a whole new project: a gas chemical park.
In the past, Turkmenistan mainly exported raw materials and earned the thinnest profits. This time with the support of Chinese technology, they began to engage in deep processing and make high value-added products such as methanol and ethylene, shifting from "selling resources" to "selling products."
China provides technology, equipment and operational experience, and Turkey provides resources and policy support, this cooperation approach has upgraded the single buying and selling relationship into a joint construction of the industrial chain.
In terms of engineering standards, Turkmenistan has also taken the initiative to adopt China's technical system. Whether it is the material specifications of the pipeline or the gathering and transportation system of the gas field, it is fully compliant with China standards.
Technically speaking, efficiency has increased, and natural gas harvesting has also improved significantly.This technological collaboration is not only a one-way output, but truly achieves "win-win".
From a larger perspective, this kind of cooperation is also of great significance to China.
Central Asian natural gas now accounts for a quarter of China's total imports. Pipeline transportation does not go by sea, is stable and safe, and is not affected by the external environment.
Especially in the context of large international energy supply uncertainty, this land-based energy line is important.
At the political level, Turkmenistan is a neutral country, but it is never ambiguous when it comes to the core interests of China.
Whether it is Taiwan, Xinjiang or Hong Kong, the position of the Turkish side is clear and firmly supports China.
Real cooperation is mutual fulfillment without preconditions
This cooperative relationship between China and Turkey is not tied down by a piece of paper, but by practical actions one after another.
In China's foreign cooperation, it never forces anyone to accept conditions, nor does it turn aid into pressure.
Turkmenistan is not "emotional" either. They see clearly who is the partner who can really bring development opportunities, and who is the spectator who can only say beautiful words.
The reaction of some western countries to this incident is somewhat "jealous and dissatisfied".
They are accustomed to using their right to speak to dominate aid and political conditions in exchange for cooperation. Once they see that other countries have achieved results in another way, they begin to question and criticize. But in the end, the effect is the most convincing thing.
Turkmenistan chose China, not because China gave the most money, but because China gave the most reliable support.
They repay this trust with practical actions, and also use a gift of tens of billions to tell the world that cooperation does not rely on slogans, but on reality.
Through this project, China has also changed from a "lender" to a "co-investor" and from an "energy importer" to an "industrial partner."
The relationship between the two parties has changed from a single transaction to common development, and from a short-term transaction to a long-term binding.
In this cooperation that spanned more than ten years, Turkmenistan not only paid off the borrowed money on time, but also took the initiative to increase cooperation. With tens of billions of dollars of projects and 30 years of natural gas supply, it fulfilled the image of "keeping trust and valuing friendship".
China, on the other hand, has embarked on an equal and mutually beneficial development cooperation path without attaching conditions or interfering in internal affairs.
This kind of cooperation is not only loyalty, but also rules, not pressure, but trust.
No wonder western countries shouted "I can't learn" after reading it. This is the true international friend. One helps and the other repays. This is how cooperation can last for a long time and be practical.
References:
Turkmenistan: Full repayment of Chinese loans previously used for construction of gas pipelines has been completed on time — Observer Network 2021-06-15 10:35