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.
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...
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.
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.
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...
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.