ROME, July 23 (Reuters) - Italy’s Prime Minister Giorgia Meloni, who will visit the White House on Thursday, said that U.S. President Joe Biden had never challenged her on the issue of Rome being part of the Chinese Belt and Road Initiative (BRI).
Meloni leads the only major Western country to have joined China’s BRI scheme, which envisions rebuilding the old Silk Road to connect China with Asia, Europe and beyond with large infrastructure spending.
This sounds amazing to me. China has done some great strides building up their infrastructure, it’s truly astonishing.
Why exactly is this criticised?
The Western critique of the BRI is that it’s debt trap diplomacy, i.e. China loans money for development and hopes the beneficiaries can’t repay so they can “own” them in a diplomatic sense, or downright repo some of their critical assets.
That’s the criticism that Trump has levied against the BRI, but there are serious objections to this portrayal. Here’s one from a reputable Western source:
https://www.chathamhouse.org/2020/08/debunking-myth-debt-trap-diplomacy
I wonder why then, if it’s a debt trap, China has such a better record of forgiving foreign loans than other countries and institutions? The IMF requires economic control for their loans, including such stipulations as the privatization of public infrastructure, dismantling of labor laws, and lowering of minimum wages in their loans on a regular basis. I’ve not heard of any such requirements from Chinese loans, and in fact billions of dollars of loans were forgiven during the Covid-19 crisis. Why is there no criticism of the IMF loan regime and its fundamentally exploitative loans? The whole criticism reeks of orientalist hysteria to me.
Thanks for this link! I read the bullet points ('cuz it’s really late right now) but I’m keen on watching the video tomorrow!
It’s difficult for me to take anything Trump, and by extension, the U.S. says too seriously. They love to fearmonger about foreign influences and propaganda, but it’s not like they don’t do the very same they accuse others of.
Specifically, the GOP fearmongers most. The Dems are much more internationally & diplomatically inclined when compared to their political opponents.
Tinfoil Hat Time: I think the separatism in the US is being stoked by outside forces. If you read a summary of The Foundations of Geopolitics it sounds very familiar to what’s happening. I also think Social Media needs to go, or rather engagement driven algorithms, because they create informational bubbles that polarize society.
Thank you. It is absolutely being stoked by outside forces, very often on social media.
Random interns are using ChatGPT to excel in their jobs, no doubt the CCP and Kremlin have their own LLMs on social media dividing democratic countries.
One of the big downsides of free, anonymous speech.
It’s all a way for the CCP to gain power over other countries. “Oh, you’re using OUR infrastructure, you need to do X thing that’s bad for you or we will turn it off/fuck you over with it”.
The CCP cannot be trusted.
I follow African local politics rather closely and have many friends on the continent, and I’ve yet to see any Africans say that Chinese loans carry such requirements. However, nearly every African country has commented on the exploitative nature of WorldBank and IMF loans, which often come with policy requirements, such as privatization of public infrastructure and restriction on wages.
I did see an airport that was supposedly taken over in Uganda by China, but there’s been no corroborating evidence, despite almost two years having passed since the story was broken, and in fact, the president of Uganda came out and said that at the time the story broke, Uganda hadn’t even left the grace period on their loan, much less defaulted on it.
Why would they spell out that sort of requirement? You are assuming they are operating in the open, in good faith.
They have a history of doing this sort of thing.
I don’t think the IMF or anybody should be screwing over borrowers but at least it’s in the open where you and I, the concerned public, can do something.
Why would Africans spell out that requirement? Because they’re the ones who are taking the loans, and so have the best understanding of the terms of said loans. I didn’t ask why China isn’t talking about this, I said that I’ve yet to see any African people or politicians, despite being heavily invested in African politics, and having many friends on the continent, say anything negative about the Chinese loans. Can you show me some Africans taking about this, or do you only have US media and state dept links?
Also, what do you mean the concerned public can do something about the IMF? What effective methods do you know of to prevent IMF exploitative loans that can be done by the regular public?
Too bad the tankies here refuse to hear a single bad word about the CCP, with some even making this sound like ‘Trumptard fear-mongering’.
In reality, the BRI has shaped up to be little more than debt-trap diplomacy, powered by bribes to influential politicians (borderline autocrats) who’re willing to sell their countries for a dime.
I actually believe that those countries decided to take Chinese loans after becoming weary of IMF ones. The latter come with a lot of strings attached that force said countr8toalign with wester ideals and economic doctrines such as privatization of industries and services as well as social reforms. It is actually not too far off from how colonisers would push the colonies to become ‘civilized’. The west as always thinks it knows better and must push the ‘uneducated’ countries in the right direction. The Chinese offered an alternative where the loan recipients are allowed to develop the way they see fits them best. They are not looking to mold new countries in their image, just create economically strong trading partners that may see them more positively that they see the west. In the future that may allow them to contrast the western countries in geopolitical strength. TL;DR: China is actually hoping that these countries develop into strong economies that are aligned with China rather than with the USA.
Yeah. China suddenly owns a bunch of African ports and other infrastructure because they overloaded countries with debt.