The debt trap issue is worth pursuing. The British used debt to establish their power over weaker governments. The best example was in the 19th c when Britain used debt to take control of Egypt. The US used debt throughout the 20th to control allies, clients and rivals, especially through inter-governmental debt. The best explanation of this is Michael Hudson's SUPER IMPERIALISM. If you only ever read one book on economics, make it this one.
The debt trap issue is worth pursuing. The British used debt to establish their power over weaker governments. The best example was in the 19th c when Britain used debt to take control of Egypt. The US used debt throughout the 20th to control allies, clients and rivals, especially through inter-governmental debt. The best explanation of this is Michael Hudson's SUPER IMPERIALISM. If you only ever read one book on economics, make it this one.
Here is a youtube video on it. https://youtu.be/Uiz934HVZjY?t=5
Isn't that what the IMF and world bank is for??
More or less. The IMF and World Bank front the system and formalise arrangements under the pretense of international co-operation.