Comments by "Stephen Jenkins" (@stephenjenkins7971) on "Jake Tran" channel.

  1.  @daviddanielng  Roads to where? Airports for whom? Bridges connecting what? Have you ever once wondered whether these new infrastructure projects actually HELPED the people? To put this into perspective, Africa in general didn't have increased growth after Chinese loans started. The period from 2000 to now, there wasn't any significant changes, at least nothing that points to China's loans. Indeed, Chinese build infrastructure, but the West generally doesn't do this because you'd need to either bring your own people and companies to build it (what China does) which does NOTHING for the local economy. It destroys the purpose of investment; that the local economy, people, and governments get experience doing things themselves so as to build MORE LATER. Its supposed to be a feedback loop, and instead someone else is doing FOR YOU to such an extent that the money literally is given back to the loaner's economy while the loaned country STILL OWES THE LOANER. This is literally how European colonizers manages to take swaths of Africa by taking advantage of the corrupt African leaders prior to the Scramble. "West created corruption in African policies" That's the most absurd logic I have ever heard. It's pathetic, actually. China loans vary wildly. Highest I've heard it go is as high as 17% interest. Lowest I've heard is 2.7%. IMF sometimes doesn't charge interest rates or keeps it low at 1.5%. The point being that institutions MEANT to be used in emergencies are not comparable to debt from a government entity in China. General private debt tends to be between 2-5%, and this private debt is dominated by the West; but its also not promising literal construction and infrastructure work, nor are they backed by the government power of another country. Worse yet, there have been more than a few times that infrastructure projects led to collateral in those same projects, such as the lease of the Sri Lankan port for 99 years. Or is that "no strings attached"? Hey man, when a deal sounds too good to be true, 100% it is too good to be true.
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