Economic Two-face

The economic reporting across the world is filled with double standards

All developing nations are told that they should open up their markets and let competition flourish. This is despite every industry in the West being an oligopoly if not a monopoly. When they are confronted by real competition, they put up tariffs and ban competitors. Case in point, TikTok.

Credit rating for each nation is predicated on its banking system, amount of debt, etc. Western credit rating is top-notch, even if it precipitates a global banking collapse.

Credit rating agencies exist not to rate bonds, but to crash them when it suits the US. The US businesses then move in to buy the assets in those nations which have adopted free market principles. Once the plunder is complete, the ratings agencies change the rating.

Every developing nation needs to embark on austerity measures to set its economy on the right path, but the West sets it right by issuing more debt.

A 100% Debt to GDP ratio is only bad for a “developing nation” in the “global south”.

When a non-Western country does it, it is protectionism. When the West does it, it is national security.