Commander of US Southern Command, General Laura Richardson, published by the Spanish edition of Voice of America. In the interview Richardson says that China is taking advantage of the growing economic vulnerability of many Latin American countries in order to offer them, among other things, high-interest loans that the countries will later struggle to service.
Nonetheless, Richardson’s warning reeks of rank hypocrisy. After all, no country has done more to trap the economies of Latin America (and beyond) under an insurmountable mountain of toxic debt than the US. Since the 1980s over exuberant lending on the part of the largely US-controlled World Bank, regional development banks, US and European commercial banks and investors has repeatedly fuelled speculative booms that have quickly turned to bust. Once that happens, the IMF swoops in with a prescription for crippling austerity medicine.
Harump! Such new stories are detrimental to the “Exceptional” nation’s propaganda spiel. After all Latin America is in our backyard and is for our exclusive looting as set forth by the Monroe Doctrine.