Comment on Lemmy.jpeg
PeriodicallyPedantic@lemmy.ca 21 hours agoDebt trapping, for example, laos.
Still a lot better than what the USA does - better to build out country’s infrastructure and then hold them ransom with the debt than bombing schools, but it doesn’t make them good or beyond criticism.
Cowbee@lemmy.ml 10 hours ago
The PRC is not debt trapping Laos, both are socialist countries with good relations.
PeriodicallyPedantic@lemmy.ca 9 hours ago
Then China should forgive the debt.
Cowbee@lemmy.ml 8 hours ago
They frequently do, they can’t afford to run endless charity though, so loans with few restrictions are often used to help speed up development in a more sustainable way.
PeriodicallyPedantic@lemmy.ca 4 hours ago
But they haven’t.
Right now PRC holds all the assets and gets all the revenue, and laos holds all the debt and all the risks, for 30 years. China has used this to grant themselves positions of control over large parts of the infrastructure planning.