6 ms·

The BRI is just the Temu version of the IMF with Chinese industry upsell.

• tw04 2y ago
  It is not. The IMF does not demand collateral for the loans that they then hand over to foreign governments. China does. https://theconversation.com/mombasa-port-how-kenyas-auditor-general-misread-chinas-standard-gauge-railway-contracts-182610 https://theconversation.com/mombasa-port-how-kenyas-auditor-...
  • somenameforme 2y ago
    That article says the exact opposite of what you are claiming. This is the lede paragraph: "In December 2018, a leaked letter from the Kenyan auditor-general’s office sparked a rumour that Kenya had staked its bustling Mombasa Port as collateral for the Chinese-financed Standard Gauge Railway. Our new research shows why the collateral rumour is wrong." LLM much?
  • Kavelach 2y ago
    IMF forces countries to adopt austerity politics[1], causing lower economic activity and often leading to economy shrinkage[2], and forces countries to open their markets to foreign capital, which leads to surplus extraction abroad. Both of those measures lead to impoverishing the country that is taking the loan. [1] https://www.bu.edu/gdp/2021/04/05/imf-austerity-is-alive-and-impacting-poverty-and-inequality/ https://www.bu.edu/gdp/2021/04/05/imf-austerity-is-alive-and... and https://academic.oup.com/book/11959?login=false https://academic.oup.com/book/11959?login=false [2] https://accountinginsights.org/austerity-principles-economic-impact-and-social-consequences/ https://accountinginsights.org/austerity-principles-economic...