Over the past two decades, China has built large infrastructure projects in almost every country in Africa, making Western powers uncomfortable amid wider co...
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.
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.
:this: