One of the outcomes of the Group of Seven (G7) meeting at the weekend was an apparent closing of a pincer movement around China by Western leaders, with the US being especially critical of Beijing’s “debt diplomacy”.

Let’s set that aside for now, but bear in mind that largely at the behest of Washington and to the benefit of the West, the World Bank and IMF have for decades exported “the American” model and ensnared least-developed countries in debt — much to the benefit of Western corporations...

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