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we shouldn’t even concede that what china’s doing is neocolonialism. the IMF is trying to pass a law in Pakistan to make the central bank entirely privately controlled right now. 14 African nations must get approval from france to enact any monetary policies.
until china starts doing that, I’m not gonna concede to it.
building roads, ports and railways could be mutually beneficial for everyone if neither party is a glutonous pig.
IMF is trying to pass a law in Pakistan to make the central bank entirely privately controlled
wait what?
https://jacobinmag.com/2021/04/pakistan-debt-sovereignty-covid-economic-crisis
it’s more nuanced than what I said but they’re trying to make it so that the party in control of the government cant appoint people to the state bank. Pakistan’s been managing covid through monetary policy. this has led to inflation and has made it difficult for foreign investors to enjoy their wealth as a result of inflation. so the Pakistani imf loyalists are pushing this bill.
a country with a vaccination rate of 1% will be re-opening their economy under threat of austerity is the one guarentee of this story.
this is a story I’m sure many nations of the third world can relate to.
As far as I can tell the biggest criticism you could level at the Chinese loans are criticisms of loans themselves and the inherent power differential associated with them. Like you pointed out, the IMF and the banks in the US and Europe have gone far beyond that level.
