Political economists Radhika Desai, Michael Hudson, and Ann Pettifor discuss how the international financial system traps Global South countries in debt, reinforcing a neocolonial order.
Lots of good questions but insufficient time to give definitive replies. Don't know why anyone debates if borrowing from China is falling into a debt trap? It is obvious that $17 trillion nations don't invest to make paltry interest from others or hope to seize collateral -- makes for poor relations and the collateral is a burden and not a benefit. 70 percent of a nation's borrowings is usually private and China is never the major lender. Nor do I know of any instant when a nation defaulted to China; rather China has heped nations, such as Sri Lanka, not to default. Just more China bashing and easy to expose.
For me the daunting question is how do we get progressive economic policies embedded in political systems that are in lock down ? The abyss between what our academic sages are saying and writing and what treasonous politicians and ideologues are doing only grows wider and more threatening .