3 ms·

they are building an empire of dust

by beeflet 2y ago

mschuster91 2y ago
China is essentially acting like a VC fund. They spread money around everywhere... and get a ton of benefits in return. Local autocrats just love China because their money doesn't come with strings attached (such as IWF or EU/US aid), they get to spend down a chunk of their massive dollar forex reserves, provide a ton of people from their poor provinces with work (Chinese foreign construction projects usually don't hire local labor!), and build up soft power in the population of the countries where they invest.
seanmcdirmid 2y ago
I'm hoping that wasn't a racist comment (that those other countries aren't worth it for some reason), I'll give you the benefit of the doubt. There is a lot of potential in emerging markets, potential that the Americans have ignored to their detriment (as we are experiencing now, we basically have no leverage over China because they expanded their markets enough over the course of a decade).
- beeflet 2y ago
  It's a reference to a movie called "Empire of Dust" where a chinese-led team has a hard time building infrastructure in Africa. Whether or not some third world country is worth developing is an economic question, not a moral one. And even if it is, the question of whether or not you will be able to monetize that relationship by the end of it is another one. What the chinse are doing now is basically IMF-style debt trapping of other nations, which doesn't seem like a successful strategy historically. The bottom line is that if the natives don't want to cooperate with whatever civilization you're building, it's not going to work out. Look at what happened to the USA in afganistan (and pretty much every empire that stepped foot in there). I don't think that's racist, I think it is pretty optimistic outlook towards the sovereignty of nations. There is a really great movie called Bitter Lake about this, by Adam Curtis.

3 ms·

they are building an empire of dust

by beeflet 2y ago

they are building an empire of dust

mschuster91 2y ago
China is essentially acting like a VC fund. They spread money around everywhere... and get a ton of benefits in return. Local autocrats just love China because their money doesn't come with strings attached (such as IWF or EU/US aid), they get to spend down a chunk of their massive dollar forex reserves, provide a ton of people from their poor provinces with work (Chinese foreign construction projects usually don't hire local labor!), and build up soft power in the population of the countries where they invest.
seanmcdirmid 2y ago
I'm hoping that wasn't a racist comment (that those other countries aren't worth it for some reason), I'll give you the benefit of the doubt. There is a lot of potential in emerging markets, potential that the Americans have ignored to their detriment (as we are experiencing now, we basically have no leverage over China because they expanded their markets enough over the course of a decade).
- beeflet 2y ago
  It's a reference to a movie called "Empire of Dust" where a chinese-led team has a hard time building infrastructure in Africa. Whether or not some third world country is worth developing is an economic question, not a moral one. And even if it is, the question of whether or not you will be able to monetize that relationship by the end of it is another one. What the chinse are doing now is basically IMF-style debt trapping of other nations, which doesn't seem like a successful strategy historically. The bottom line is that if the natives don't want to cooperate with whatever civilization you're building, it's not going to work out. Look at what happened to the USA in afganistan (and pretty much every empire that stepped foot in there). I don't think that's racist, I think it is pretty optimistic outlook towards the sovereignty of nations. There is a really great movie called Bitter Lake about this, by Adam Curtis.