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Initiative helps, not hinders, development

27 0 2
21.11.2018

Does China practise stealth imperialism by saddling developing countries with loans they can’t afford with its “Belt and Road Initiative” (BRI) and compromising their sovereignty?

United States Vice-President Mike Pence made that controversial claim at the Asia-Pacific Economic Cooperation (Apec) summit in Papua New Guinea.

“Know that the US offers a better option,” he told Apec. “We don’t drown our partners in a sea of debt, we don’t coerce, compromise your independence. We do not offer constricting belt or a one-way road.”

Actually, his claim that the US doesn’t “coerce, compromise your independence” is demonstrably false, given the long history of American invasions, CIA-sponsored coups, assassinations, sanctions and subversion around the world. And there is a rich economic literature on the failures of Western aid in the third........

© South China Morning Post