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.

  • JucheBot1988
    11•2 years ago

    Coming to a lib youtube channel near you: “We need to talk about China’s no-debt trap”

  • FossilPoet
    8•2 years ago

    Ben Norton is based. He even got out of the antivax sphere when it started heating up last year/early this year, leaving the Grayzone where Max Blumenthal has been in some unfortunate territory despite the occasional hit.

    • @sinovictorchan@lemmygrad.ml
      11•2 years ago

      China do not create transnational organizations who will take control of international economic politics to dictate that developing countries should pay off their debt with their support to criminal activities from large foreign firms unlike the American government. Some American imperialists complained that WHO is siding with China because WHO is willing to investigate the source of the COVID-19 and make conclusion from their investigation, but there are otherwise no evidences that other transnational organizations are biased to China’s favor. If the Neo-Liberal transnational organizations that establish dictatorship over international economy is not biased to USA or to white imperialist countries, then those organizations will dictate that the first world countries should pay off their debt by supporting criminal activities from foreign corporations as well and would be less biased if the Neo-Liberal de factor transnational governments dictate that Islamic or Communist government should provide military intervention to first world countries to ‘help’ them pay off their debt.

    • @folaht@lemmygrad.ml
      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.

    • @ZarathustrasApe420@lemmygrad.ml
      9•2 years ago

      What, in your opinion, is the correct way for two sovereign nations to interact? How, in your opinion, can two governments form a relationship without doing an imperialism and hurting the feelings of Western SocDems?