COVID-19 and the International Debt Crisis
Photo by Farah Nabil on Unsplash
As countries relentlessly collaborate to mitigate the impact of COVID-19, it is necessary that we question international relations and how they play out. This is especially the case given the ongoing International Debt Crises.
The International Debt Crises illustrates the issues between debt-related economies as richer countries lend credit to poorer countries to initiate things such as conservation projects, political management, and infrastructural development. As a country accumulates debt, they shorthand their ability to except financial aid as a credit-worthy country, allowing richer countries to exploit them.
The imperialist and capitalist logic of the debt crises has been exacerbated by COVID-19 as sovereign economies are only allowing low-income countries like Zimbabwe to be let in as long as their demands are met. This form of exploitation and cronyism can be seen in a multitude of different ways such as resource allocation and company expansion. As the pandemic will soon come to a close, what trouble will rise anew?
Resources:
Comments
Post a Comment