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.
Usermane
joined 1 year ago
This is extremely US-centric. Capitalism was not born in the united states, but in European countries where there were slaves, but whose direct use had fallen out of fashion within the continent and was definitely not of the chattel variation. I do not like capitalism, I abhor slavery, but this comment is not necessarily correct.