The IMF is trying to teach China how to suck eggs. Now
telling China to concentrate on shifting its economy towards consumption
and address it real estate problems. What advice has the IMF given to
the USA with its deficit spending problem, soaring debts and banking
problems?
Chinese people thrive on thrift, unlike the USA and its
people spending what they have not earned to impress the world that it
is filthy rich. It is reported that 37% of USA citizens do not have
US$400 in their pocket to meet emergency needs and is rising. That is
how broke they are. The world can see all that poverty translated openly
into homelessness and the queue at soup kitchens.
The IMF is
basically telling China not to concentrate on its successful export
model, thus not try to overtake the USA in GDP just a couple of years
further ahead. That must be the motive.
Just look at what the IMF
did to Argentina, with a debt trap set to tie down Argentina, making it
impossible for Argentina to get out of its debt trap with each
devaluation of its currency vis a vis the US$. As the Argentina currency
falls, paying its debts in US$ gets more difficult and the debt never
gets paid down. Years of repaying finds the debt to the IMF still
remaining stagnant. Argentina is in a mess.
Anonymous
4 comments:
Sri Lanka is in the same position as Argentina, sinking deeper into the' debt trap' set by the IMF and its Western supporters. Several other countries are in the same precarious position - Egypt, Tunisia and Pakistan among them.
China, which holds just 10% of Sri Lanka's debt had been pinpointed and singled out as the cause of the economic problems in Sri Lanka. This is how warp the thinking is among the Western countries. Now the reality of the size of China's hold of Sri Lanka's debt put paid to all the fabricated narratives. They created the problem, they blame someone else for it, and the clowns hype up the lies of the rabid dogs.
We know how those debt traps are set up to destroy countries economically and making them beholden to the IMF and World Bank. Never was good intentions the motive of those World Bodies. Suffice to say, having created the mechanism to control countries with debts, and ironically they also tried to use the 'debt trap' argument to demonise China's loans to poorer countries for development. China has taken a leaf from them to extend its 'soft power' approach, and is competing with them globally with loans to poor countries, making it a thorn in the side of the West.
China must be wary of extending loans to countries deemed unfriendly, as any default by them necessitating China taking action to recover those loans, will make China look bad and gives the West the ammunition to devalue China's BRI and infrastructure expansion.
Some countries that China should do well to avoid doing business with are the Philippines and Vietnam, countries that will repay a helping hand with poisonous bites. The world still has so many other countries deserving of help besides them.
Agree. China must not behave like a daft philanthropist, throwing money even to snakes and devils. Snakes and devils would always be snakes and devils. China must decide fast and cut its losses.
China must stop use its funds and resources on well deserving countries. This would be a message to the snakes and devils that they would not be able to have the cake and eat it. They must not see China as a stupid country, and to take China for granted.
India is a lost cause to China. Forget about India. India would never be on the side of China just like the Anglo Saxon gangsters. To the Anglo Saxon gangsters, China and Russia and all coloured people are enemies, only good to serve them.
The Anglo Saxon gangsters have been coercing snakes and devils to take sides. China should grow up and stop being so naive. China must force the snakes and devils to take side. If not, China would only be bitten by the snakes and killed by the devils.
China must stay away from the 'Stupidity has no cure' curse.
IMF aka "I M Finished " are loan sharks of the Whites and those cronies with cash to spare their Sovereign Funds to fleece those countries in troubles as caused actually by them or those in poverty to keep them enslaved.
The 1997 Asian Financial Crisis is caused by no others than by the bloody Whites.
Mahathir imposed Currency Control rather than borrow from "I M Finished "
Indonesia negotiations with SinkiesLAND for 10 billions and we insisted they go thru the World Bank with our funds.
Played safe. Later no pay back how?
So in a war we also like the blood sucking Whites had our shares of blood soaked profits.
Aiya monies dirty or clean still monies lah. Who don't want ah?
That's when CSJ in one of our election shouted at Char Tow where the 10 billions going to?
Kena smacked and bludgeoned down with sledgehammer and heavy siong.
So all these damn blood sucking organisations as helped mostly by the Whites Loan sharks are out to fleece those in their need.
They also needed the Whites Gangsters Mafias like the Brits, the Frenchies together with their Chief Mafia Leader to create chaos and turbulence so that they can loaned their blood sucking dirty monies.
Correction "so in a way not war"
Also "helmed not helped mostly by the Whites"
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