Part 10/15:
There is a recurring critique of how international aid and debt perpetuate economic imperialism. External powers, through loans and aid, exert control over African governments and systems. For instance, aid projects often end up benefiting Western companies—by inflating costs or draining resources—leaving minimal impact on local development.
He describes the financial system as inherently designed to trap countries in debt and dependency, with US dollar reserves and global reserve currencies giving the US or Western powers leverage over others. Countries can default or refuse debts—like Zimbabwe did—but face sanctions or monetary confiscations that devastate local economies.