The game of economic dominance of the powers that be
Hello Project Hope community, best wishes this day to all of you. Hoping you are having a great week I salute you.
Today I want to share some ideas that have been going through my mind since I read about the investments that China has been making in more than 120 countries, to make what they have called the "New Silk Road", with which they have supported economically with large loans in multiple projects to many countries, with the intention of "helping them to progress", at least that is in theory the purpose. However, behind all this there is always a big trap, it is unfortunate, but that is how it is, and no power lends money fast for nothing. This is what I have observed throughout history.
I remember that in Venezuelan history classes, and later with my successive research, I learned that oil exploitation in my native country, Venezuela, began in the early 1900s, with great support not only in money but also in technology from the United States, which resulted in the Americans being in my country from that date and for almost a century they took millions of barrels of oil at very low prices.
That was part of the "payment for the support offered". China is doing the same thing nowadays, offering billions of dollars under conditions that it knows the countries will not fulfill, but in exchange, for the delay or failure to pay, it charges them with natural resources (oil, gold, etc...). This is terrible, it is a trap, and if we add to this the fact that it makes loans to countries that have high levels of corruption, it is evident that they will not pay, and will indebt the country's resources for decades. My country, Venezuela, is a clear example of this...
But just today, I saw a video in which they talked about how the European Union has undertaken a similar economic support project, called Global Gateway, with which it will allocate over the next 7 years more than 18 billion Euros to support different developing countries, and more than half of the resources will be destined to African countries.
Unfortunately, although it could be a great support for the countries, the high rates of corruption, coupled with the lack of clear projects for the development of nations by the politicians in office, make my view on this matter gloomy. Because very probably they will make loans but with the passage of time and bad administration they will end up keeping part of the country to which they lend, due to the politicians' default, and very probably, the situation of the citizens will go from bad to worse.
You've such a realistic and honest view...China is trying to follow the same path the United States took in exploiting weaker countries to their advantage. Unfortunately, corruption never fails to blind the sight of politicians...
Have a good day :)
Hello @qsyal
Yes, it is a pattern that does nothing but harm, but the short sightedness of the politicians what it does is facilitate the process of the countries that are power to take advantage of the developing ones.
Hi dear friend @josevas217
these countries use these huge amounts of money, and it seems that more is lost in corruption than they actually do with the money, a great analysis my friend
god bless you