• eduardog3000 [he/him]
    ·
    edit-2
    3 years ago

    "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%.

    • Thomas_Dankara [any,comrade/them]
      ·
      3 years ago

      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.

      • Tankiedesantski [he/him]
        ·
        3 years ago

        "Democratic (with an electorate consisting of Western corporations) and inclusive (of Western capital) governments."

    • invalidusernamelol [he/him]M
      ·
      3 years ago

      Notice how they don't even mention who owns the other 90% of the debt before slipping into shilling for the failing B3W plan