World News

46836 readers

2924 users here now

A community for discussing events around the World

Rules:

Rule 1: posts have the following requirements:
- Post news articles only
- Video links are NOT articles and will be removed.
- Title must match the article headline
- Not United States Internal News
- Recent (Past 30 Days)
- Screenshots/links to other social media sites (Twitter/X/Facebook/Youtube/reddit, etc.) are explicitly forbidden, as are link shorteners.
Rule 2: Do not copy the entire article into your post. The key points in 1-2 paragraphs is allowed (even encouraged!), but large segments of articles posted in the body will result in the post being removed. If you have to stop and think "Is this fair use?", it probably isn't. Archive links, especially the ones created on link submission, are absolutely allowed but those that avoid paywalls are not.
Rule 3: Opinions articles, or Articles based on misinformation/propaganda may be removed. Sources that have a Low or Very Low factual reporting rating or MBFC Credibility Rating may be removed.
Rule 4: Posts or comments that are homophobic, transphobic, racist, sexist, anti-religious, or ableist will be removed. “Ironic” prejudice is just prejudiced.
Posts and comments must abide by the lemmy.world terms of service UPDATED AS OF 10/19
Rule 5: Keep it civil. It's OK to say the subject of an article is behaving like a (pejorative, pejorative). It's NOT OK to say another USER is (pejorative). Strong language is fine, just not directed at other members. Engage in good-faith and with respect! This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban.

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

Rule 6: Memes, spam, other low effort posting, reposts, misinformation, advocating violence, off-topic, trolling, offensive, regarding the moderators or meta in content may be removed at any time.
Rule 7: We didn't USED to need a rule about how many posts one could make in a day, then someone posted NINETEEN articles in a single day. Not comments, FULL ARTICLES. If you're posting more than say, 10 or so, consider going outside and touching grass. We reserve the right to limit over-posting so a single user does not dominate the front page.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.

Lemmy World Partners

News [email protected]

Politics [email protected]

World Politics [email protected]

Recommendations

How to spot Misinformation and Propaganda

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

Consider including the article’s mediabiasfactcheck.com/ link

founded 2 years ago

MODERATORS

[email protected]

151

China is now the biggest debt collector in the developing world, report says (www.npr.org)

submitted 3 days ago by [email protected] to c/[email protected]

37 comments fedilink hide all child comments

China has dramatically curtailed its lending in recent years. Now, it's emerging as the largest debt collector for many of the world's poorest nations — a shift that threatens to undermine poverty reduction efforts and fuel instability, according to a new report.

Lending for China's Belt and Road Initiative — which includes funding for a massive series of new railways, ports and roads in the developing world — began winding down before the COVID-19 pandemic, according to Peak repayment: China's global lending, released this month by Australia's Lowy Institute, a foreign policy think tank. The report points to diplomatic pressure within China to restructure unsustainable debt and to recover outstanding debts from abroad for the change.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 13 points 2 days ago (14 children)

Okay gang, I need you to think a bit more critically than 'China Bad.' First, why was the term "debt collector" used? China lent money, now they're taking payments. Is that debt collecting, or just the second part of lending money? Is a mortgage lender a debt collector? That's a loaded term meant to give you a negative impression, cuz no one likes a debt collector except perhaps an American hospital.

Second, the countries agreed to the loans. Paying them back was expected and predictable. If payments can't be made, then the debt will be restructured, meaning the payment schedule will be modified so the debtor country can make payments.

Third, the money was often used to build a potentially money-making asset, like a port. If used correctly, the assest should pay for a decent chunk of the loan.

Forth, I see a lot of half baked comments like 'China will take the port back' or 'China will take the hospital.' You must first ask, with what will China take back an African port, or hospital, or whatever? They don't have the means. They're not going to park an aircraft carrier off the coast and drop bombs until the loan is repayed, because they can't. So what does China want? China doesn't want the fucking port, they want resources and friends with benefits.

China's basically going here's a loan, build a port to import goods for your people. Import from whoever you like, it's your port. Oh by the way we make the cheapest and best everything (cuz they do), we'd be happy to sell you whatever you want, like solar panels or EVs. We also need colbalt and the finest silicon sand to build you these awesome EVs and solar panels you want, so we'll buy that from your mines and use your cool new port to ship it. Here's the loan payment schedule. No payments for the first 5 years, then afterward you pay X per year for 20-30 years. Oh no, you're having trouble making payments? Well we benefit from you having that port too, so let's restructure that debt so your people don't revolt and get cozy with the US.

There's no fucking debt trap. That's just racist and moronic. 'Those sneaky Chinese tricked the backwards brown people with a loan they can't repay.' Plus you can't repossess a structure on the other side of the world without a credible threat of violence. China does not have the means. Economic coercion, sure, but the debtor agreed to that and they're not stupid.

[–] Skiluros 5 points 2 days ago (9 children)

This is false. In case of Sri Lanka, they did take the port back and arguably the whole thing was setup since the economic viability of the port is suspect.

https://www.nytimes.com/2018/06/25/world/asia/china-sri-lanka-port.html

You're either ignorant or a demagogue.

[–] [email protected] 4 points 2 days ago (3 children)

nytimes isnt necessarily a trusted source for unbiased information about china, or americas dealings. that aside, i wish i could read that article without them demanding or selling my information. so can you post a breakdown for us paranoids?

[–] Skiluros 3 points 2 days ago (1 children)

This article references the story of the OG port from 2018:

https://www.aljazeera.com/economy/2023/2/17/sri-lankas-chinese-built-port-city-stirs-white-elephant-fears

[–] taladar 3 points 2 days ago (1 children)

That article seems to focus on environmental sustainability, which, while important, doesn't really mention the economic viability aspect that was part of the allegations earlier in this thread.