An excerpt from the above linked-to article follows:
‘China’s financial imperialism’ is a relatively new genre in western journalism. China is providing loans to other countries to build infrastructure. If those countries can not pay back the loans, China offers to lease and manage the infrastructure built with its money…
Surely no other countries do such? Other countries do not use loans to gain influence? Other countries do not play hardball to collect?
From the Preface to “Confessions of an Economic Hit Man,” by John Perkins, we get the following:
This is what we EHMs do best: we build a global empire. We are an elite group of men and women who utilize international financial organization to foment conditions that make other nations subservient to the corporatocracy running our biggest corporations, our government, and our banks. Like our counterparts in the Mafia, EHMs provide favors. These take the form of loans to develop infrastructure – electric generating plants, highways, ports, airports, or industrial parks. A condition of such loans is that engineering and construction companies from our own country must build all these projects. In essence, most of the money never leaves the United States; it is simply transferred from banking offices in Washington to engineering offices in New York, Houston, or San Francisco.
Despite the fact that the money is returned almost immediately to corporations that are members of the corporatocracy (the creditor), the recipient country is required to pay it all back, principal plus interest. If an EHM is completely successful, the loans are so large the debtor is forced to default on its payments after a few years. When this happens, then like the Mafia we demand our pound of flesh. This often includes one or more of the following: control over United Nations votes, the installation of military bases, or access to precious resources such as oil or the Panama Canal. Of course, the debtor still owes us the money – and another country is added to our global empire.
From page 1 of “The New Confessions Of An Economic Hit Man,” by John Perkins, we get the following:
The treacherous cancer beneath the surface, which was revealed in the original “Confessions of an Economic Hit Man,” has metastasized. It has spread from the economically developing countries to the United States and the rest of the world; it attacks the very foundations of democracy and the planet’s life-support systems.
All the EHM and jackal tools – false economics, false promises, threats, bribes, extortion, debt, deception, coups, assassinations, unbridled military power – are used around the world today, even more than during the era I exposed more than a decade ago. Although this cancer has spread widely and deeply, most people still aren’t aware of it; yet all of us are impacted by the collapse it has caused. It has become the dominant system of economic, government, and society today.
And it is in perfect harmony with this dark world’s paradigm, or operating principle, of ‘riches for the strongest’.