4 ms·
Besides installing dictators or at least manipulating political movements beyond latin america... It looks like china is trying the same thing the west did aft
by throwawayqqq11 2y ago
Besides installing dictators or at least manipulating political movements beyond latin america...
It looks like china is trying the same thing the west did after WW2: debt trap diplomacy. [0]
The linked article focuses alot on china in a negative way but the origin of debt trap diplomacy began with the bretton wood institutions (IMF, WHO, world bank) in 1944 and resulted in the debt crises of 1980s [1,2] and the globalized developing countries. These institutions where handing out massive loans meant for development but bound to sometimes very harsh economic reforms [3,4]. The effect was not the promised growth but the debt crises and the (imo intentional) economic opening of resource rich but otherwise poor countries to the well developed economies of the west.
Afaik the US did not directly acted as an expoitative power but hindered developing countries as a proxy for multinational corporations. Like for chiquita banana in latin america or for shell in nigeria [5,6].
This story is decades old, explains well the current corrupt-but-useful leaders all over the southern world and i dont even have to go into the petrodollar and its meaning for small oil exporting countries. The US/the west is imo very responsible for the global state of affairs and the gain of power/wealth is the only explaination for the development we took. This is my bridge to exploitation but propably not the smoking gun you where looking for. This topic is so vast to just focus on a single country.
[0] https://en.m.wikipedia.org/wiki/Debt-trap_diplomacy https://en.m.wikipedia.org/wiki/Debt-trap_diplomacy
[1] https://idl-bnc-idrc.dspacedirect.org/bitstream/handle/10625/12010/88201.pdf https://idl-bnc-idrc.dspacedirect.org/bitstream/handle/10625...
[2] https://en.m.wikipedia.org/wiki/Latin_American_debt_crisis https://en.m.wikipedia.org/wiki/Latin_American_debt_crisis
[3] https://en.m.wikipedia.org/wiki/Structural_adjustment https://en.m.wikipedia.org/wiki/Structural_adjustment
[4]
https://web.archive.org/web/20100226180656/http://www.africahistory.net/imf.htm https://web.archive.org/web/20100226180656/http://www.africa...
[5] https://www.aljazeera.com/economy/2010/12/10/how-shell-infiltrated-nigeria https://www.aljazeera.com/economy/2010/12/10/how-shell-infil...
[6] https://academic.oup.com/jah/article/99/1/155/854916 https://academic.oup.com/jah/article/99/1/155/854916