Western loans are designed to keep the African and South American states forever poor and in debt

 After the Opium Wars 1839-1842 and 1856-1860 China was reduced to a semi-colonial state of many Western countries notably England, France, Russia, United States and Japan. All these countries occupied enclaves in Chinese ports, cities and towns under their total control with their own exclusive laws under their extra-territorial rights. 

In the aftermath of the First World War 1914-1918, Doctor Sun Yat Sen and his KMT government requested help for financial loan in the 1920s from the Western countries, Russia and Japan for China's national development. Dr. Sun Yat Sen's request for help was turned down by all of them claiming it was not to their interest to help China to develop and be united as they would all lose their extra-territorial rights to exploit China. They would rather keep China poor and disunited. Besides financial exploitation, this caused China to lose Outer Mongolia and Tannu Tuva ( formerly part of Outer Mongolia ) to Russia due to Russia's vile deception and dirty scheming and plot against China. 

Similarly the African countries are now facing the same situation as China before. Western countries will never help all countries of the South in Africa and South America to develop and grow rich as if this happens they will not be able to exploit these countries for their own selfish ends. Their policy and attitude is to keep these countries permanently poor to be subjected to their never ending exploitation of their economy and national resources. So Western loans with very high interests especially from US, World Bank and IMF is basically geared to keep Africa and South America countries permanently poor. Normally a greater part of their loan will be used up to pay the very high salaries of Western so-called expertise, building of expensive luxurious apartments to house them and buying of US overpriced technical equipment and machines. So usually in practice most of the loans money is sent back to US. 

What is left of the remainder of the loan is not even enough to pay for the interest of the loan. Every year the debt of a loan is added to the debt of the next year's loan. So it is a vicious cycle of Western loan that is geared to keep poor countries of Africa and South America permanently poor to the selfish benefits of the self-serving US and other Western countries and Japan.

Whereas very low interest loans from China in using it to build local infrastructures like roads and railways, ports, towns, cities, hospitals, schools, universities and sports stadiums will go a long way to develop all these countries of the South. China's tangible aid and loan is there for all to see. Very often China is generous and benevolent enough to write off the debt or reschedule the loan to serve the interest of these poor countries. 

Thus it is vicious for US and the West to charge high interest expensive loans with nothing tangible to show but just to keep the borrowing countries of the South, in Africa and Souh America permanently poor and subject to Western control. The West led by US is really vicious and deplorable.

Southernglory1