China forgives 23 loans for 17 African countries - debunking 'debt trap' myth
youtu.be
China is forgiving 23 interest-free loans for 17 African countries, after already cancelling $3.4 billion and restructuring $15 billion of debt from 2000-201...

I thought this video was super informative, and honestly I find what China is doing to be totally heroic. If only Russia could go red and them and China could get the US the fuck out of Africa. Even when the global economy is fucked China comes in and forgives debt for 17 countries in Africa! Ben Norton/Multipolarista is becoming some of my favorite independent journalism.

  • @folaht
    10•2 years ago

    What kind of argument is this?

    A final nail in the coffin.

    Nearly every major banking organization, including the World Bank, IMF, ect. have forgiven some amount of debt in the past. How is it the case that just because China does it means that it is somehow them being “Anti-imperialist”?

    The original argument was that China was supporting dictatorships, which in return the argument was that China doesn’t force countries to become socialist or copy Chinese policies in order to favor Chinese state companies buy out and own everything of the nation in debt.
    Also, China feels that it has in no way the right to tell other countries what is and isn’t a democracy, just like the US shouldn’t and therefore Chinese loan policies work better than the US/UK/EU loan diplomacies.
    Plus, China was giving out loans to other nations without interest, unlike the IMF.
    Since that argument was won, the ‘China debt trap’ libel was spread all over the world.