Don't be naive. China is getting a lot in return for those "loans" in the form of other benefits. These countries are selling access to resources and Chinese companies will walk away laughing to the bank.
40-50 years ago I would agree with you... But if China is dead set on changing the global currency, they need more allies.
Probably a majority of which goes straight into these corporations pockets... Just like the money that was supposed to go to Haiti after the earthquake.
My bad... You said Mormons not Normans. Of course... They're doing business. But you can actually see how it's helping the countries over there... Unlike Haiti were it looks like the earthquake happened last week.
Interesting article from Carnegie Endowment for International Peace... China’s Growing Role in Africa: Myths and Facts Excerpt
HBO has a show called Vice... They did a report on the money that was sent to Haiti a few weeks back. All that money and many people who lost their homes are still over there living in tents and dirty water to drink. But by no means do I think China is doing this out of the goodness of their hearts...
We can't let China outpace us in circle-running technology. Vote GOP 2016 if you want to get back to taking the lead in going in circles.
having been in several cities in china i think you have a decent chance of some type of revolution in the next 20 years. the pollution in that country is almost comical.
I'm not sure I would describe it as comical. More like painful to breathe without a mask or painful to open your eyes. And that is just the air. Every now and then they dump a few million gallons of benzene in the river. Or melamine in the baby milk.
The first time I was In Beijing I thought about elderly people there and wished I could talk to them about how the city had changed since they were a child. Revolution sounds comical to me also in a country like China in present day. But people will have to eventually get fed up.
That's exactly what the British though, during the height of the British empire. The pound was the currency of the world, and nobody could have thought an upstart country in the middle of nowhere could displace it as the world power. Even though USA's economy overtook Britain's far before the world wars, it was the world wars that eventually caused Britain to shrink back, and for the US to take its place in the monetary system. Honestly, I don't think we'll see this kind of shakeup in our lifetimes, because it'll require major geopolitical shifts, maybe even a world war, but it's naive to think the US will forever remain in control/the most powerful.
Actually Venezuela has lots of private companies and its markets are perhaps freer than China. One of the reasons China is making such rapid progress is that China spends much more of its GDP on government than the simplistic Milton Friedman ideology you were raised on.
