IMF bailout of Pakistan opposed.
A bipartisan group of senators is urging the Trump administration to block the International Monetary Fund from bailing out several underdeveloped nations victimized by predatory Chinese loans made through the Belt and Road Initiative infrastructure development plan.
"We write to express our concern over bailout requests to the International Monetary Fund (IMF) by countries who have accepted predatory Chinese infrastructure financing," the 16 senators stated in a letter sent last week to the secretaries of Treasury and State.
China's Belt and Road Initiative is a global infrastructure funding plan that Beijing is using to expand its power and influence around the world.
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WNU Editor: These countries did this to themselves. It is beyond me on why US funds should now be used to bail them out, albeit through the IMF.
6 comments:
YES!! We should not pay.
As long as we get to put permanent military bases in said countries I'm for it.
China's weakness is its vast debt. Trump obviously is aware. IMF is still run in DC so I expect he lets China eat its bad debt. Now if China wants to make Trump a sweet trade deal and the IMF is sweeter, let the art of deal begin.
No way. Let Pakistan and China deal with each other. A mutual reach-around backstabbing that would include inconvenience if not injure both states. States that are no friend to the US.
To ask if we "should" is to imply we actually "can." We have a large amount of disabled veterans who have been crippled and maimed in a series of fruitless wars around the world that need care and the amounts needed are only going to increase as they age, major infrastructure issues that need to be tackled, an aging population that's going to need healthcare and social security, the depleted military essentially needs to be rebuilt from the ground up, and we need to service our own debt.
We are simply not in a position to do this. The notion that someone is even considered is yet another illustration of how some in the government have gone stark raving mad.
As the editor writes, "these countries did it to themselves." To use an analogy, consider two types of medical issues. 1.)A congenital eye issue that causes the person challenges and has huge potential for more challenges. 2.)The person is overweight and has possible diabetes. In the case of condition 1, the person did not do this to themselves. In the case of condition 2, the person very likely did this to themselves.
In the case of countries borrowing from China and not being able to pay it back, this is most likely analogous to situation 2 for a medical patient. In any event, it is actually irrelevant. While one's heart may go out to someone who finds themselves in condition 1 or even 2, we (America) are simply NOT in a financial position or otherwise to be able to bail these nations out.
To even suggest that we should place yet another burden on the American people is actually unethical on the part of our leaders. Assuming we could do this or it were feasible to have this done through the IMF makes matters even worse. The IMF like most international bodies is not pro-American. Essentially an anti-American entity would be using American taxpayer dollars to bail countries who borrowed from China. The ability of the US government to do both dumb and unethical never ceases to amaze.
In summary, this is not something we can do and even if we could it is not something we should do. If we had the ability, which we don't, perhaps it could be handled on a case by case basis and not through the IMF as we would lose control on how the funds are distributed or spent.
B.poster you write more then the story bra 😂. Not a bad thing though. You all give good insight. Which I actually enjoy more then the news some times.
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