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"Debt trap diplomacy" has always been just pure projection of America's actions using the IMF.
Edit: lmao they even mention the IMF in the video, but no mention of how predatory those IMF loans are.
Also, I love how Chinese loans only amount to about 10% of the debt of some African countries but that 10% has done so much more good than the other 90%.
also the IMF loans not only have higher interest rates than the chinese loans, but they come with mandatory policy objectives, i.e., these African governments are expected to neoliberalize, privatize, deregulate, and oppress labor movements as prerequisites for these loans. These demands of the IMF are what pushed people into the arms of the Chinese banks in the first place. Also, it wasn't lost on these nations that taking loans from former colonizers in Europe and America amounted to having their own stolen wealth sold back to them as debt.
"Democratic (with an electorate consisting of Western corporations) and inclusive (of Western capital) governments."
Notice how they don't even mention who owns the other 90% of the debt before slipping into shilling for the failing B3W plan
Bad sign for westerners when even Bloomberg is acknowledging this
A few years ago McKinsey, or one of the other consulting ghoul firms, did a report that basically refuted the Chinese colonialism accusations. I knew when I read it that if even the consultants have no choice but to acknowledge it, it would only be a matter of time before media did too.
Yeah, this is basically a push away from "evil Chinese, dumb Africans!" To "hey let's do the marshall plan again to prevent the scheming Chinese from using authoriarianism to undermine global neoliberal dictatorship"
I think even the Atlantic put out an article last year where they laid to rest the idea of Chinese debt trap diplomacy too. They even fact checked that whole "China took over a Sri Lankan port" thing and found it to be complete BS.
My conspiracy brain says that this is a standard parcel of western journalism: quietly put out a retraction so when they're called out in the future they can go "Actually we admitted that we were wrong so we never lied :)"
Like with the "Chinese ghost town/Potemkin village" story. Years ago western media did a blitz on it and put the idea on the public consciousness, then in the past couple years they issues stories about how the ghost cities are full now that did not got as much traction as the original ghost town stories
This is actually so funny. China isn't doing this out of the goodness of their hearts, no. They're benefitting from this greatly.
But they're not fucking the African countries over at every opportunity, putting their boots on their necks and bleeding them dry just because they can. They're just making mutually beneficial business deals, and westerners cannot wrap their heads around that.
Once again, China isn't particularly good, Western countries are just so fundamentally rotten that China not trying to trick Africa into lifelong exploitation is completely unthinkable to them. China is powerful enough to put their boot on Africa's neck, so that has to be what they're doing, anything else doesn't make sense because it wouldn't maximize short-term profits. That's the capitalist mindset.
