this post was submitted on 10 Aug 2023
365 points (96.9% liked)
chapotraphouse
13 readers
1 users here now
Banned? DM Wmill to appeal.
No anti-natilasm posts. See: Eco-fascism Primer
Vaush posts go in the_dunk_tank
founded 4 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Consider:
https://www.news.com.au/finance/economy/china-forgives-debt-for-17-african-nations/news-story/28ab7f45440142634ff8efd0360b2fec
https://fair.org/home/why-comparing-chinese-africa-investment-to-western-colonialism-is-no-joke/
Ok, they're nicer than the west, that doesn't mean it's not still imperialism. Most of the time they don't forgive debt and when they do it's corrupt; they're trying to win them over to become satellite states one day.
What do you mean when you say their debt forgiveness is "corrupt"? And why do you believe that they want to win them over as "satellite states" and not as regular-old geopolitical allies?
What about it makes it imperialism to you? Do you see any difference at all between lending money for development projects and imperialism? How does forgiving loans facilitate economic domination of these places?
From that news.com australian article I posted: "But the concept of a Chinese “debt trap” has also been criticised, with a study in 2020 finding China had restructured or refinanced about $21 billion of debt in Africa between 2000 and 2019. The study also noted there was no evidence of “asset seizures”and that Chinese lenders had not used courts to enforce payments, or applied penalty interest rates to distressed borrowers." For a go at economic imperialism, they don't seem keen on putting the choke-hold on.
Almost like some kind of unfalsifiable orthodoxy is being used to make the judgement here
Should they instead be cultivating enemies that will try to destroy everything they've done to alleviate poverty?
So if you make your friend pay you back the $10 you lent them you're imperialist, ok.
It's more like your billionaire friends gives you a $100k loan to buy a house and expects you to pay them back with interest.
That's literally America lmao
From that news.com australian article I posted: "But the concept of a Chinese “debt trap” has also been criticised, with a study in 2020 finding China had restructured or refinanced about $21 billion of debt in Africa between 2000 and 2019. The study also noted there was no evidence of “asset seizures”and that Chinese lenders had not used courts to enforce payments, or applied penalty interest rates to distressed borrowers. [emphasis mine]"
They've had the opportunity to really milk these countries if they wanted, and actively chosen not to.
EDIT: Here's the study being referenced in that paragraph i quoted: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3745021