Taliban spokesman Zabihullah Mujahid has told an Italian newspaper that the Taliban will rely primarily on financing from China following the withdrawal of foreign troops from Afghanistan and its takeover of the country. This, according to a new AlJazeera report.
“China is our most important partner and represents a fundamental and extraordinary opportunity for us, because it is ready to invest and rebuild our country,” Zabihullah Mujahid was quoted as saying in the interview.
He said the New Silk Road – an infrastructure initiative with which China wants to increase its global influence by opening up trade routes – was held in high regard by the Taliban. Afghanistan is home to numerous rare earth minerals which is attractive to China. (Story continues below.)
Last month, more than 75% of the government spending of Afghanistan was financed by foreign aid. Most of that aid came from the United States. The U.S. holds the majority of Afghan international reserves and there’s now pressure on Treasury Secretary Yellen to give the Taliban access to the $9 billion in taxpayer funds in Afghanistan’s U.S. accounts.
Without their reserves and without foreign funding, Afghanistan is facing a currency crisis.
And that’s where China may be of aid to the Taliban nation.
Given that Afghanistan is home to a vast supply of rare earth minerals, including lithium which is essential for the green energy revolution. EV vehicles are powered via lithium. At present, China is the biggest maker of lithium batteries.
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