Debt trapping Archives

Another Indian neighbour is in financial turmoil now situation there is quite similar to Sri Lanka the currency is falling here, foreign reserves are depleting, the trade deficit is widening as well inflation is skyrocketing the economic wars have forced Sheikh Hasina's government to take a drastic step now over the weekend it hiked prices of diesel and petrol the most significant hike it is since the country got independence. Last week the sheikh Hasina government raised fuel prices by a record margin. The cost of petrol was hiked by 51 per cent and the cost of diesel by 42. This is the most significant price hike since Bangladesh got independence, which triggered the global rise in oil prices. It has destabilised Bangladesh's energy market. The state-run Bangladesh petroleum corporati...

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String Of Pearls Theory: The Chinese Dragon Tightening Around Asia

Agamapar ChadhaJuly 27, 20220

China is viewed as one of the biggest threats there is to world peace, second to Russia. Its communist autocracy concerns democracies all over the globe especially considering its economic rise and as the most quickly developing nation. The Chinese imperialistic aims are on full display with border disputes against India, allying with countries opposed to the West and democracies in general and debt-trapping nations that have crippling economies like Pakistan, Sri Lanka and many more. Focusing more on the debt trapping China's plan of crashing economies and flinging nations is part of the bigger plan called 'Belt and Road Initiative, which China masquerades as the philanthropic mission of providing economic aid and building infrastructure. This, in reality, is a systematic undermini...

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France’s Africa: A Story Of Modern Day Colonialism

Agamapar ChadhaJuly 26, 20220

The French Empire was one of the most powerful in human history. At its height, it controlled almost ten per cent of the world's land area. The country was a dominant global power from Southeast Asia to West Africa. And that was particularly true in Africa. France oversaw territory spanning 17 modern-day nations, from Morocco to the Congo. Under the banner of a "civilising mission," France managed brutal occupations that engorged the empire's wealth. It left a terrible legacy for ordinary Africans – marked by slavery, extraction, and murder. And today, France's empire in Africa is STILL around – in a streamlined, more profitable, and even more exploitative form. In the aftermath of the Second World War, a wave of decolonial movements swept across Africa and Asia. And the French –...