Listen to this incredible short speech on the difference between the West and China. It's about infrastructure in developing nations.
Justin Lin, Chinese & World Bank Chief Economist, was shocked to find that West had no desire for large-scale projects.
#India #Africa #BRI
Justin Lin, Chinese & World Bank Chief Economist, was shocked to find that West had no desire for large-scale projects.
#India #Africa #BRI
The West is run by bankers & Wall Street types, who focus on minimal expenditure and maximum returns in the shortest time possible.
But development of poor nations require enormous investment in infrastructure. And nobody understands this and has proven this better than China.
But development of poor nations require enormous investment in infrastructure. And nobody understands this and has proven this better than China.
There are lots of Indian elites working at the IMF and the World Bank. These people just parrot the Western talking points and do harm to India.
World Bank and IMF also have kept Africa and Latin America down for decades by refusing to help them with infrastructure projects.
World Bank and IMF also have kept Africa and Latin America down for decades by refusing to help them with infrastructure projects.
China rejected this financial capitalism and first focused on its own infrastructure.
Later, Chinese developed their own financial institutions like China Development Bank to fund the Belt and Road Initiative.
Later, Chinese developed their own financial institutions like China Development Bank to fund the Belt and Road Initiative.
BTW, this financial capitalist attitude also affects the USA, whose infrastructure is like a sh*thole country now.
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