Hong Kong CNN — Developing countries owe Chinese lenders at least $1.1 trillion dollars, according to a new data analysis published Monday, which says more than half of the thousands of loans China has doled out over two decades are due as many borrowers struggle financially.
This is exactly what China was hoping for. Either they got their money back with some interest, which is a zero win really, or China got to go after all the stuff they couldn’t have gotten to without armed conflict.
Sorta like how your bookie is cool lending you 10k to bet on some sure thing, and when you lose and don’t have the 10k? Then he’s reluctantly ok with taking possession of your 20k car in exchange for only breaking your fingers.
If anybody is about to learn a lesson it’s the developing countries, and the lesson? pay up or drop your pants and bend over
Some people are into that ;)
And the IMF does what that’s different from that?
Btw, how much money has China wiped from countries debt ledgers in the past?
They can both be bad you know
They can. I’ll wait to see what China does. I already know how the IMF and the World Bank operate.
Can you explain how the example above is similar to what the IMF does?
(they can’t, the whataboutism is a distraction so we don’t talk about daddy china anymore)
Read Confessions of an Economic Hitman.
I just read a brief summary and several reviews of this book, and it seems it’s wholly unsourced and making many dubious claims. There are so many legitimate criticisms of the IMF and pretty much any large institution…why make shit up to criticize?