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Actually you just described what the world bank did to virtually every African nation in the 60s when they were gaining independence. For most nations the inter
by grecy 7y ago
Actually you just described what the world bank did to virtually every African nation in the 60s when they were gaining independence. For most nations the interest on the loans they owe exceeds their GPD, so they will be forever enslaved monetarily. The world bank dictates that for example Ethiopia can not sell processed coffee, else the World Bank will bankrupt them and destroy their economy.
What China are doing now is a lot more honest and up front (though I'm not saying it's good). They go to a country and say "We'll build you these roads/bridges/hydro stations" in exchange for mineral/fishing/whatever rights. So the country gets actual improvements for its citizens, and China gets cheap minerals.
- JoeAltmaier 7y ago"What they did" and "What happened" are very different. The loan was supposed to foster economic growth, which would have enabled paying back the loan. Which didn't happen for sad reasons. The coffee part is odd - what's that about? What does the World Bank have to do with coffee?
- grecy 7y ago> The coffee part is odd - what's that about? What does the World Bank have to do with coffee? The world bank holds many countries to ransom by dictating what they can (or can't do). Guinea wants to get the internationally accepted price for their Bauxite? World Bank says no, else we'll call in your loan. Senegal wants to get a fair price for it's resources? Nope, let's put a travel warning on them and decimate their tourism for a year or two. The list goes on and on and on. I just spent 3 years in Africa at ground level in 35 different countries. The longer you spend there the more you realize. Read this: https://www.amazon.com/dp/B00FDVMOFU/?tag=roadchoseme-20 https://www.amazon.com/dp/B00FDVMOFU/?tag=roadchoseme-20
- deleted 7y ago[deleted]
- ForHackernews 7y ago> The world bank dictates that for example Ethiopia can not sell processed coffee, else the World Bank will bankrupt them and destroy their economy. Do you have a source for that? All I could find: https://www.worldbank.org/en/country/ethiopia/publication/ethiopia-economic-update-strengthening-export-performance-through-improved-competitiveness https://www.worldbank.org/en/country/ethiopia/publication/et... http://documents.worldbank.org/curated/en/861541468250239049/Ethiopia-Coffee-Processing-Project http://documents.worldbank.org/curated/en/861541468250239049... http://etbuna.com/ethiopian-coffee/ethiopian-coffee-processing/ http://etbuna.com/ethiopian-coffee/ethiopian-coffee-processi...