this post was submitted on 10 Aug 2023
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chapotraphouse
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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.