Submitted by BubsyFanboy t3_126xlg0 in worldnews
Kaionacho t1_jecnybw wrote
Well SO FAR the dept trap theory turned out to be completely false, tho that might change in the future who knows. Plus western loans also have alot of strings attached, so we aren't really any better.
The-Peace-Maker t1_jed9osd wrote
On the contrary, with China, what they’re doing is a form or predatory lending, which exacerbates a country’s economic woes, sometimes into a crisis — and China is well-aware of this. They know these countries shouldn’t be given loans, but they do so because they know they can’t pay them back, and have to give up assets in return. This is why it’s a trap, and more countries are finally waking up to this.
>>Bangladesh’s finance minister Mustafa Kamal has warned that developing nations must 'think twice' about taking more loans through China's Belt and Road Initiative. He said 'Beijing's poor lending decisions' are pushing already indebted nations into economic distress. Highlighting Sri Lanka's crisis, the Bangladesh Finance Minister said that China must follow a more robust process for evaluating its loans.
[deleted] t1_jeduf5g wrote
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DoomsdayLullaby t1_jeddwql wrote
They learned from the best. Loan money, raise interest rates, debt becomes unsustainable, implement a structural adjustment program, privatize a nations resources for pennies on the dollar and massively reduce the cost of local labor. If they don't comply either install a government who will or hyper inflate their currency and lock them out of the global economy until they bend the knee. --The US way.
hawaii_funk t1_jefdxko wrote
I'm not sure why you're getting downvoted. That's literally the history w/ the IMF and its austerity measures.
Rodot t1_jeecwas wrote
Fun fact: the entirety of the debt owed to China by every country in the continent of Africa is less than value of McDonalds
[deleted] t1_jeduj1s wrote
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StupidPockets t1_jed1xxs wrote
US doesn’t find slavery acceptable. China does.
ScaryShadowx t1_jed2wlz wrote
The US find slavery perfectly acceptable - it's right there in the constitution
> Neither slavery nor involuntary servitude, except as a punishment for crime whereof the party shall have been duly convicted, shall exist within the United States, or any place subject to their jurisdiction.
All you need to do is jail them and there is your slave workforce.
> [Our nation incarcerates more than 1.2 million people in state and federal prisons, and two out of three of these incarcerated people are also workers. But there are two crucial differences: Incarcerated workers are under the complete control of their employers, and they have been stripped of even the most minimal protections against labor exploitation and abuse. Nationally, incarcerated workers produce more than $2 billion per year in goods and more than $9 billion per year in services for the maintenance of the prisons.] (https://www.aclu.org/news/human-rights/captive-labor-exploitation-of-incarcerated-workers)
ScurrilousTruth t1_jedvy7a wrote
You realize there is a huge difference between actual slavery and labor as punishment for committing a crime right?
West_Engineering_80 t1_jedn00f wrote
You actually believe there are slaves here? And you said it on a forum the US created. Are you dead? Are you restricted?
fairshare t1_jed338u wrote
Classic neoliberal take. Good impression. 10/10.
neverbeenwrongb4 t1_jed5f2d wrote
The fuck are you talking about?
StupidPockets t1_jed690o wrote
China has a group of peoples in their country that work as slaves to produce goods and work on farms. They also allow slavery within their trade agreements of their “belt and road” plans.
neverbeenwrongb4 t1_jed7fe3 wrote
>China has a group of peoples in their country that work as slaves to produce goods and work on farms.
What does that have to do with anything though? (The US uses prison slave labor too, though on a smaller scale).
>They also allow slavery within their trade agreements of their “belt and road” plans.
The US does as well. Every country does. Every couple months another major report comes out that the majority of cocoa plantations, cobalt mines, and commercial fishing vessels in the world are using slave labor, and no one does anything. Welcome to globalization, dude. The massive purchasing power of developed-world consumers meets the desperate poverty, lawlessness, and weak human rights of the Third World.
West_Engineering_80 t1_jedn1in wrote
Where are slaves in the US?
neverbeenwrongb4 t1_jedodzw wrote
Various prisons, state-mandated rehab facilities, and rented out to work on fighting fires and slaughtering chickens.
West_Engineering_80 t1_jedorcv wrote
Ok. That settles it. LINKS?!?
neverbeenwrongb4 t1_jedp2t4 wrote
West_Engineering_80 t1_jedrnii wrote
“Chicken processing plants are notoriously dangerous and understaffed. The hours are long, the pay is low and the conditions are brutal.” Horrible treatment of 200 people who were payed low wages.
Second link: apparently no slavery either. Just training ex inmates.
3rd link: we all hate prison for pay.
Awful shit - no excuse. But slavery? No.
neverbeenwrongb4 t1_jedsi7r wrote
>Second link: apparently no slavery either. Just training ex inmates.
Not training them, using them, for very difficult and even dangerous labor. And paying them well below subsistence wages to do it. That's slavery by the definition of international labor standards organizations.
I have little doubt that China's system of labor camps uses pretty similar incentive structures, the inmates are probably paid a tiny pittance, less than 10 or 20% of what local free laborers would be paid, but still not quite zero. IIRC, even the Soviet gulags often paid their inmates a tiny nominal wage. That is not a defense of them, they were grotesque inhuman death camps, a system of slave labor on a scale almost unprecedented in human history.
West_Engineering_80 t1_jedsp4g wrote
You have little doubt?
Are there libel laws in your country?
If you accused me personally of a crime, you better have a better understanding or any proof?
Not just some supposition.
neverbeenwrongb4 t1_jedt4go wrote
The fuck are you talking about?
[deleted] t1_jedtd7o wrote
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