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China ‘world’s biggest debt collector’ as poorer nations struggle with its loans (www.theguardian.com)

submitted 10 months ago by throws_lemy@lemmy.nz to c/news@beehaw.org

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[–] zerfuffle@lemmy.ml 2 points 10 months ago* (last edited 10 months ago)

It's a fundamentally different problem here: it's new infrastructure, which in this day and age is barely profitable in terms of first-order effects (fees, fares, etc.) but is significantly profitable in terms of second- and third-order effects (economic growth, new businesses, yada yada).

If you could build a new subway in New York, spend zero capital, but have to give up the fare revenue for that subway, why wouldn't you?

Also, the India/US alternative is to... Just outright give the Indian Adani group a majority stake in their port expansion. So much better. So much. Truly.