3 Comments

How would debt cancellation cause democracy to increase? It seems to be that in the absence of certain cultural+political structures, money strengthens autocracy. The money from those debts, in many cases, did little but line the pockets of dictators.

China's a great example. They've become rich, and many commentators thought that meant they'd adopt liberal democracy. If anything, they're sinking further into totalitarianism.

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I didn't say one would cause the other, but there are parallel reasons we won't see American tackle the Russian war machine in a way that tackles its own as well...

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I imagine the US generally wants to do stuff in its own self-interest. I'd be curious to see a breakdown of who's holding Ukrainian debt - I'm wondering if Russia/China holds a lot, whether there could be side effects of US debt cancellation that could be bad for the Ukraine... mainly spitballing though, I definitely don't understand the fine-print of how these things work.

Debt cancelation is a really intruiging idea for how one country could support another in crisis.

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