Part 11/16:
Initially, many believed that development aid would foster growth, reduce poverty, and stabilize nations. Yet, countless examples demonstrate the opposite: massive debt accumulation, economic collapse, loss of sovereignty, and increased corruption.
For instance:
Tanzania transformed into a socialist nightmare after nationalization, with industrial output plummeting and dependency on aid increasing.
Argentina’s economy, once prosperous, fell into hyperinflation and chaos after accepting extensive IMF loans that fueled inflation, debt, and social unrest.
Mexico and Brazil, despite industrialization efforts funded by loans, experienced skyrocketing inflation, unemployment, and social disorder, culminating in economic crises.