Debt Is A “Financial Weapon” Used to Subordinate Developing Countries

 

Debt Is A “Financial Weapon” Used to Subordinate Developing Countries

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“The total amount of third world debt has already been repaid six times over in interest.”(1)

As of 2020, the total amount of debt owed by developing countries was $11 trillion.(2) The cost of interest on this debt was hundreds of billions of dollars per year, or over $1 billion per day. This is many times greater than the aid given by rich countries.(3) This post summarises the main reasons why countries should not have to repay all of their debts.

Borrowing Money for Weapons: Paying For Your Corrupt Boss’ Crimes 

“For years, rich countries willingly provided loans to the dictatorship in our country. Now, we are asked to pay for the bullets which were fired at us.”(4)

A close look at the reasons for lending in specific cases highlights the unfairness of the system. It has been estimated that from 1960-1987, developing countries borrowed $400 billion to spend on weapons. Much of Iraq’s debt was due to money lent to finance Saddam Hussein’s war with Iran in the 1980s.(5) We saw in earlier posts that most money spent on weapons by the poorest countries comes straight back to much richer countries, lining the pockets of shareholders and executives of weapons companies.(6) The Indonesian dictator, Suharto, received loans for tanks and warplanes that were used to slaughter hundreds of thousands of people. The Indonesian people are expected to repay those loans. The same is true of many countries that used to be run by dictators. Britain and the US helped to keep these dictators in power, against the wishes of their people, yet the people are still expected to repay their dictators’ debts.  

We saw in an earlier post that sanctions (depriving a country of basic essentials) can cause devastation, yet people from many countries, including Iraq, Panama and Vietnam, have been expected to repay loans whilst suffering from sanctions imposed by rich nations.

White Elephants – The money goes to companies and consultants from rich countries 

Large amounts of money has been lent to finance huge projects that are of little value to ordinary people. These are known as white elephants. The most obvious of these would be nuclear power plants that were finished 20 years behind schedule and cost many times their original estimate, producing some of the most expensive energy on Earth. Forty-five thousand dams have been built, displacing fifty million people and costing $2 trillion. Many went way over budget, such as a South American dam that was expected to cost $3.6 billion but ended up costing $21 billion. It was described by the former Paraguayan minister of energy as “possibly the largest fraud in the history of capitalism.” Some dams were designed so badly that they unexpectedly flooded thousands of square miles of land, and produce much less energy than expected. Where private contractors are running these powerplants, governments have ended up with contracts where they have to pay for energy that is not used.

Railroads have been constructed that run “from no place to nowhere.” Again, many of the loans for these projects went into the pockets of wealthy shareholders and executives of construction companies in rich countries, together with consultants from those countries. There is even a capital city in Nigeria called Abuja that was built in the middle of nowhere and seemed for many years to have no purpose. The Nigerian people have a joke about the city. They ask God if ordinary people will ever see the benefits of Abuja. He responds “Not in my lifetime.”(7)

The System Is Rigged Against Borrowing Countries 

When a developing country borrows money from international lenders, it usually does so using an established currency, such as US dollars. The exchange rate with its own currency can fluctuate. Some borrowing countries are actually encouraged to change their exchange rate (this is known as devaluing their currency) making loans more expensive to repay. The interest rate is often high and can also fluctuate.

Some loans are used to grow crops for export, but the price of these crops also varies. In 1999, Nicaraguan coffee sold for $1.44 per pound. By 2002, this price had dropped to $0.40 per pound. This means they have to sell three times as much coffee to pay their debts. All three of these factors, exchange rate, interest rate and prices, are beyond the control of the borrowing country – they are controlled by traders and banks in rich countries. In theory these rates can go either way, but in practice poor countries have repeatedly lost out.(8) Conditions can easily change sufficiently that poor countries can no longer afford to repay debts, through no fault of their own.

If the price of coffee drops below the price of production, then it does not matter how much coffee is sold – there is zero profit, and coffee sales cannot be used to repay the debt. Most developing countries have provided enough coffee, cocoa, cotton, cobalt, gold, oil and diamonds (and everything else that they export) to pay back their original loans many times over, yet they still have huge debts. Unlike businesses, countries cannot declare bankruptcy. Banks try not to write-off debts, so they keep lending ever-more money to borrowers to pay off their earlier debts, together with the interest on those debts. The debt just keeps getting bigger. An observer in Nigeria pointed out:

“We borrowed $5 billion. We have paid back $16 billion, but we still owe $28 billion”.

Rich People Keep Stealing the Money 

Nigeria provides a good case study of debt and capital flight. The best estimate of the total wealth stolen by corrupt dictators and their cronies since 1960 in Nigeria is $120 billion.(9) This is enough to repay their debts many times over. The same is true in many poor countries. Two leading experts wrote:

“Of the money borrowed by African governments in recent decades, more than half departed in the same year, with a significant portion of it winding up in private accounts at the very banks that provided the loans in the first place”(10)

The Destructive Power of Compound Interest 

The effect of compound interest on loans to developing countries is extremely important. If a country borrowed $1 million in 1980 at 7% interest, the total debt would now be approximately $16 million. When interest rates are very high, the debt increases more rapidly. If we re-do the same calculation at 14% interest, the total debt would be $250 million. If the interest rate on a loan is even one per cent too high, then the borrower pays a considerable amount of extra interest over a long period of time.

The system of excessive interest on international loans is a deliberate mechanism to transfer wealth from poor countries to rich ones, or from governments to rich people. In the 1980’s and 1990’s, many South American countries experienced serious problems due to excessive interest on their debts.(11) In an extreme example, the Argentinian government was paying 45% interest on loans (known as dollar bonds). Many of these bonds were owned by wealthy Argentinians. The leading expert on the system, Michael Hudson, has explained that these bonds are actually a complex mechanism to help the rich take their money out of the country.(12)

It’s All About Conditions 

Most people think of loans as having two parts, the capital and the interest. In the international world there is a third part – the conditions that come with the loan. This is arguably the most important part. Countries that want to borrow can be more easily persuaded to follow the guidance of advisors from rich countries, to privatise their industries, and to open up their markets for further exploitation by big corporations. In order to qualify to have the debts written off, countries have to implement these same policies.(13) The manipulation of these debts is a means of helping rich countries and their corporations take control of resources and trade in poor countries. Many of these countries have effectively been conquered economically.

Governments from developing countries have been advised to decrease spending on basic necessities (known as austerity), but at the same time they have been forced to keep paying their debts. Nicaragua spends four times as much on debt as on education.(14) One expert on Mozambique said:

“A large share of the government revenues of Mozambique have to be spent on servicing the debt. Little is left for health, education and water provision.”(15)

The interests of banks and investors are considered more important than the lives and health of billions of people. 

Debts can, and should, be written off 

If we write off all debts that were spent on weapons, that were used to support murderous dictators, that were stashed in personal offshore bank accounts in tax havens, that were spent on grand schemes of little benefit to the population, that lined the pockets of Western consultants, or that have grown enormously due to excessive compound interest, the amount outstanding would be very much less than the amount that rich countries still want repaid. If we then deduct the amount already repaid, it would almost certainly be less than zero. Governments and banks in rich countries do not want to do these calculations, because they do not want to admit that the whole system is so corrupt. When researchers examine in detail what happened to the original money that was loaned to specific countries, they conclude that much of the outstanding debt should be canceled.(16) For example, when loans to Ecuador were analysed, some of them violated international law, as well as domestic laws in lending countries, and laws in Ecuador.(17) In total, $3 billion of Ecuador’s debt was illegitimate. The technical term for this is odious debt.

Writing off debts is nothing new. This has been a regular process for thousands of years,(18) and various multi-billion dollar loans to the US and Europe have been written off over the years.(19) Our politicians occasionally write off some of the debts of the poorest countries, but they are rarely as generous as they claim. In some cases, aid is reduced by the same amount as the debt written off, so poor countries get no real benefit. Some schemes do not end debts altogether. They merely reduce them to a level that rich countries consider ‘sustainable.’ What this really means is the greatest amount of interest that can be extorted each year without quite tipping a country into revolution and civil war. The debt written off in recent years is just a small fraction of the amount owed.(20)

The propaganda related to debt is very powerful. Most people have been conditioned to believe that we all have a moral obligation to repay debts.(21) The idea that debts are a powerful mechanism for controlling or exploiting others is rarely discussed. We need to change the whole framework of discussions around debts, and force lenders to accept responsibility for their criminal or unethical practices. In business, it is accepted that debts can be written off. Lenders accept that when they make a loan, there is a risk that they will not get their money back. The same should be true of international lending.

This is a Huge Problem for Some Rich Countries Too

These issues became much more apparent to people in rich countries, when Greece was forced to pursue austerity, in 2010, as a condition of its debt arrangements. Portugal, Ireland, Italy and Spain also suffered. This had devastating consequences for the people of these countries, particularly the poor. Their situation is particularly difficult as they use the Euro as their currency, which gives them much less control over their finances.

A golden rule for all countries should be to borrow as little as possible in foreign currencies. If a country can create its own currency, it can be used to pay local people to do most of the things needed for development. It is straightforward to set up a national healthcare network, to set up a national system of schools and universities, to train doctors and engineers, to build a country’s infrastructure, or to begin the process of industrialization. It has been done successfully even in very poor countries. Forcing countries to borrow money denominated in US$ is a deliberate strategy by the US to maintain its power.(22)

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This article was first posted on medium.com/elephantsintheroom

Rod Driver is a part-time academic who is particularly interested in de-bunking modern-day US and British propaganda, and explaining war, terrorism, economics and poverty, without the nonsense in the mainstream media. 

He is a frequent contributor to Global Research.

Notes

1) Didier Rod, comment in European Parliament, 25 April, 2002, at https://www.europarl.europa.eu/sides/getDoc.do?pubRef=-//EP//TEXT+CRE+20020425+ITEMS+DOC+XML+V0//EN&language=EN 

2) Homi Kharas, ‘What to do about the coming debt crisis in developing countries’, Brookings, 13 April 2020, at https://www.brookings.edu/blog/future-development/2020/04/13/what-to-do-about-the-coming-debt-crisis-in-developing-countries/

This is defined as emerging market and developing country debt. 

Larry Elliott, ‘Debt in developing countries has doubled in les than a decade’, The Guardian, 16 August 2020, at https://www.theguardian.com/world/2020/aug/16/debt-in-developing-countries-has-doubled-in-less-than-a-decade 

3) David Harvey, A Brief History of Neoliberalism, 2005, p.193

4) Noha El Shoky, Egyptians for a Sovereign Debt Audit, at www.jubileedebt.org.uk

5) James S. Henry, The Blood Bankers, p.344

6) How It All Began, at www.jubileeresearch.org

7) James S. Henry, The Blood Bankers, Chapter 1

8) James S. Henry, The Blood Bankers, 2003, pp.207-215

Faisal Islam, ‘Class A Capitalists’, The Observer, 21 April 2002, athttp://observer.guardian.co.uk/drugs/story/0,,686664,00.html

ICO, ‘Historical Data on the Global Coffee Trade’, International Coffee Organization, at http://www.ico.org/historical/1990%20onwards/PDF/3a-prices-growers.pdf 

9) Jack Blum, cited in Kamari Clarke and Deborah Thomas, Globalization and Race: Transformations in the Cultural Production of Blackness, 2006

10) James Boyce and Leonce Ndikumana, Africa’s odious debts: How foreign loans and capital flight bled a continent, 2011

11) ‘The Mexican 1982 Debt Crisis’, Rabobank, 19 Sep 2013, at https://economics.rabobank.com/publications/2013/september/the-mexican-1982-debt-crisis/ 

12) Michael Hudson, Argentina back on the debt train’, 23 July 2018, at https://michael-hudson.com/2018/07/argentina-back-on-the-debt-train/

13) Anup Shah, ‘$40 billion debt write-off is not a historic breakthrough’, Global Issues, 10 July 2005, at http://www.globalissues.org/article/544/40-billion-debt-write-off-is-not-a-historic-breakthrough 

14) Ngaire Woods, The Globalizers: The IMF, the World Bank, and their Borrowers, 2007, p.168

15) Dr. Eufrigina dos Reis, Mozambique Debt Group, at https://jubileedebt.org.uk/

16) Joseph Hanlon, ‘How much debt must be cancelled?’, Journal of International Development, Vol. 12, Issue 6, pp. 877 – 901, August 2000

17) ‘Debt Resistors’, Jubilee Debt Campaign, at https://jubileedebt.org.uk/the-debt-crisis/debt-resistors

18) David Graeber, Debt: The first 5,000 years

Michael Hudson and Harold Crooks, ‘Bronze age redux: On debt, clean slates and what the ancients have to teach U’, Counterpunch, 1 May 2018, at https://www.counterpunch.org/2018/05/01/bronze-age-redux-on-debt-clean-slates-and-what-the-ancients-have-to-teach-u/

19) Joseph Hanlon, ‘How Much Debt Must Be Cancelled’, Journal of International Development, Vol. 12, No. 6, pp.877-901

20) ‘The Basics About Debt’, at www.jubileedebtcampaign.org.uk/?lid=98

21) Eric Toussaint, The Debt System: A history of sovereign debts and their repudiation, 2019

22) ‘Michael Hudson discusses the IMF and World Bank: Partners in economic backwardness’, interview by Bonnie Faulkner, 4 July 2019, at https://www.nakedcapitalism.com/2019/07/michael-hudson-discusses-the-imf-and-world-bank-partners-in-backwardness.html

UK Health Secretary Suggests Critics of Vaccine Passports Are “Crazies”

 

UK Health Secretary Suggests Critics of Vaccine Passports Are “Crazies”

Matt Hancock retweets post celebrating surveillance aspects of new system.

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UK Health Secretary Matt Hancock suggested critics of the vaccine passport policy were “crazies” after he retweeted a post which disparaged those who have security and privacy concerns about the program.

Mail on Sunday commentator Dan Hodges urged people to “ignore the crazies” as he effusively praised the NHS tracking app for being a centralized surveillance hub.

“OK, ignore the crazies. Just downloaded the NHS App,” tweeted Hodges. “It’s amazing! You take a photo of your drivers licence, do a cool face scan, and everything’s there. Covid records, medical records, everything. I now want Covid passports just so I can use it…”’

Hodges subsequently suggested that the app was a “fantastic” way of avoiding anti-vaxxers.

His tweet was subsequently retweeted by Matt Hancock, who over the last year has become the face of the UK’s coronavirus response.

“Why did @MattHancock RT a contrarian, ratioed tweet disparaging “crazies”?” asked Big Brother Watch director Silkie Carlo.

“He shows profound disrespect to the MPs, many from his own party, who reject Covid passes & want a serious debate; & the anti-ID British public. His attitude will fall down on him like a ton of bricks,” she added.

As we document in the video below, attempts have been made to discredit opposition to the vaccine passport by demonizing critics as anti-vaxxer extremists.

However, the program would serve to introduce a Chinese Communist-style social credit score system with potentially horrendous implications for basic liberties and freedoms.

The British government lied for months in claiming that no vaccine passport was being developed for domestic events, despite that being the plan all along.

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9 New ‘Vaccine Billionaires’ Amass Combined Net Worth of $19.3 Billion During Pandemic

 

9 New ‘Vaccine Billionaires’ Amass Combined Net Worth of $19.3 Billion During Pandemic

A new report by People’s Vaccine Alliance reveals how Big Pharma’s monopoly on COVID vaccines generated a massive increase in wealth for a handful of people.

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A new report shows the global push to develop a vaccine for COVID-19 has spawned nine new “vaccine billionaires” who have amassed a combined net wealth of $19.3 billion.

The author of the report, People’s Vaccine Alliance, said the pharmaceutical industry’s monopoly on COVID vaccines has generated a massive increase in wealth for a handful of people.

In addition to the nine new “vaccine billionaires,” the coalition of health and humanitarian organizations, world leaders and economists said “eight existing billionaires — who have extensive portfolios in the COVID-19 vaccine pharma corporations — have seen their combined wealth increase by $32.2 billion.”

Anna Marriott, health policy manager at Oxfam, a member of the People’s Vaccine Alliance, said:

“These billionaires are the human face of the huge profits many pharmaceutical corporations are making from the monopoly they hold on these vaccines. These vaccines were funded by public money and should be first and foremost a global public good, not a private profit opportunity.”

The coalition’s list of new vaccine billionaires includes four tycoons who profited off U.S. vaccine maker Moderna, the CEO of BioNTech and three co-founders of the Chinese vaccine company, CanSino Biologics.

The nine billionaires, in order of their net worth are:

  1. Stéphane Bancel, CEO of Moderna, now worth $4.3 billion.
  2. Ugur Sahin, CEO and co-founder of BioNTech, now worth $4 billion.
  3. Timothy Springer, immunologist and founding investor of Moderna, now worth $2.2 billion.
  4. Noubar Afeyan, Moderna’s chairman, now worth $1.9 billion.
  5. Juan Lopez-Belmonte, chairman of spanish drugmaker Rovi, which struck a deal to make ingredients for Moderna’s vaccine, now worth $1.8 billion.
  6. Robert Langer, scientist and founding investor in Moderna, worth $1.6 billion.
  7. Zhu Tao, co-founder and chief scientific officer at CanSino Biologics, worth $1.3 billion.
  8. Qiu Dongxu, co-founder and senior vice president at CanSino Biologics, now worth $1.2 billion.
  9. Mao Huihua, co-founder and senior vice president at CanSino Biologics, now worth $1 billion.

The eight existing billionaires whose wealth soared during the pandemic include investors with stock in pharma companies that hold a monopoly on COVID vaccines.

The list includes Indian billionaire Pankaj Patel, chairman of Cadila Healthcare, a pharma company that makes drugs such as Remdesivir to treat COVID and has a vaccine undergoing clinical trials.

Also on the list is Patrick Soon-Shiong, a medical doctor whose COVID vaccine, ImmunityBio, was selected by the U.S. government’s “Operation Warp Speed,” a program to accelerate the rollout of COVID vaccines.

The new vaccine billionaires join the ranks of other ultra-rich elite, who also profited off the pandemic. They include Tesla’s Elon Musk, Amazon’s Jeff Bezos, Facebook’s Mark Zuckerberg, Microsoft’s Bill Gates and Google co-founders Larry Page and Sergey Brin — all of whom made Forbes’ top 10 Big Billionaire Gains list, adding a “collective $488 billion to their fortunes since the beginning of 2020.”

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“Xinjiang in My Eyes”: Debunking the Lies and Anti-China Propaganda Focusing on China’s Xinjiang Uyghur Autonomous Region

 

“Xinjiang in My Eyes”: Debunking the Lies and Anti-China Propaganda Focusing on China’s Xinjiang Uyghur Autonomous Region

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This article is based on an International Forum hosted by the Chongyang Institute and the China Public Diplomacy Association of the Renmin University, Beijing. The actual forum took place in Guli’s House, Kashgar, Xinjiang, on 20 May 2021.

The conference was introduced by four keynote speakers, followed by 18 participants, who all expressed their views on the western bashing of China, falsely accusing China, in this particular case, of human rights abuses against the Muslim Uyghur population of the Xinjiang Autonomous Region in the far-west of China. The following summarizes my Zoom-presentation as one of the 18 guest speakers.

Other than the constant barrage of lies against China, much of the lie-propaganda focusing on Xinjiang has to do with the pivotal role this Autonomous Province plays for the Belt and Road Initiative – BRI.

The so-called Uyghur conflict was largely created by the west, led by the United States. It is symptomatic for western smearing their perceived and falsely accused enemies around the world, thereby hoping to bring about worldwide hatred against their perceived enemies, in this case China. The Uyghur Autonomous Region of Xinjiang fits perfectly into this agenda of the United States, as Xinjiang is a key hub for connecting China – i.e., the Belt and Road – with the west, through Pakistan, India, Tajikistan, Uzbekistan, Russia and to some lesser extent through Mongolia.

Xinjiang, in northwestern China, is a vast mostly highland region of deserts and mountains. It’s home to many ethnic minority groups, including the Turkic Uyghur people.

Xinjiang Province was a vital passage for the Ancient Silk Road – of some 2100 years back, a trade route linking China with the Middle East and Southern Europe, through Central Asia.

Signs of this Ancient Silk Road passage are still visible by the traditional open-air bazaars of the once-upon-a time oasis cities of Kashgar and Hotan.

President Xi Jinping’s new Silk Road, alias the Belt and Road Initiative, is patterned according to the same trading principles of the Ancient Silk Road, but with 21st Century technology and cultural knowledge.

For westerners to better understand the crucial importance of Xinjiang province for the Belt and Road connection of China with the west, here are some facts.  Xinjiang province covers an area of approximately 1.7 million square kilometers (km2), about equivalent to the combined landmass of France, Turkey and Poland. The province has about 25 million inhabitants – of which an estimated 12 million – almost half – are Uyghur Muslims.

The Uyghurs, an ethnic group of western and central Asia, are recognized as native to the Xinjiang Uyghur Autonomous Region in Northwest China. But they also reside in neighboring countries, like Turkey, Russia, Uzbekistan and even in Australia and Canada.

Xinjiang Province is surrounded by the rugged Karakoram, Kunlun and Tian Shan Mountain ranges, making up much of Xinjiang’s borders.

Kashgar, (pop. about 720,000 [2019]), the host city of this International Forum, is an ancient oasis city in the desertic Tarim Basin region of Western Xinjiang. It is one of the western most cities of China, close to the borders with Kyrgyzstan, Tajikistan, India and a tiny border with Afghanistan. Kashgar has served as a strategically important trading post over 2000 years ago for the Ancient Silk Road between China, Central Asia, the Middle East and Europe. Kashgar has the distinguished reputation of being one of the oldest, continuously inhabited cities in the world.

It is well known, the west, led by the US, including her European NATO allies, wants to destabilize China by whatever means they can find. At present China is surrounded by about 400 US military bases; of which the world’s largest which is located in Guam.

The Belt and Road project has been and remains a thorn in the eyes of the US / West since its initiation in 2013. However, until about 2019, the BRI had practically been non-existent, literally “banned” from reporting by western media. When countries like Italy and Greece officially recognized and connected to the BRI – the western mainstream media woke up, so to speak, and began criticizing and accusing China and all the countries that were connecting to BRI – of interfering in western politics.

This is a total lie. China never forces a country to participate in the Belt and Road, or any other Chinese initiative, for that matter. To the contrary, China offers the connection to the Belt and Road, as President Xi did in 2013, when he presented to Germany the opportunity to become at that time the western most point of the BRI.

Madame Merkel – in the orbit of Washington – refused; and President Xi went home and continued the Chinese Project of the Century, working with and connecting other countries.

Why is the Belt and Road a thorn in the eye of the west?

Because the Belt and Road, counting already more than 150 member countries and international organization, is the largest global economic development scheme in current history, connecting countries, the world, PEACEFULLY through infrastructure, industry, science, trade, education and cultural exchange – aiming at a multi-polar world. This is precisely the contrary of the western objectives – a globalized world under US / NATO leadership.

Therefore, the New Silk Road is seen as a competitor, or rather an enemy, for western imperial forces. Attacking China in Xinjiang is a clear effort to destabilize a crucially important area of the Belt and Road. Of course, we know, there are other areas of atrocious aggressions on the PRC by the west: Tibet, Taiwan, Hong Kong – to name just a few.

These are the abject lie-accusations:

China is accused of “ethnic cleansing” – against the minority Muslim Uyghurs, wanting a “clean” Han Dynasty-type Xinjiang Province. Despite western interference, Xinjiang Province has been for the past three to four years among the most peaceful areas of China. Some 55 ethnic groups are living peacefully on her territory. Why would Beijing discriminate against the Uyghurs?

The west claims that Beijing holds over a million Uyghurs in concentration camps, using them for slave-labor, and committing untold human rights abuses.

That’s an outright lie.

Here is what really happens:

Western secret services infiltrate Xinjiang Province, mainly through the small border with Afghanistan (which is occupied for 20 years by US / NATO forces), to train and radicalize Muslim Uyghurs against China and to recruit them to fight in US’s proxy wars in the Middle East. Especially, to fight a Jihad war in Syria, but also in Iraq and other Middle Eastern countries, the west – US / NATO – wants to destabilize and control.

When the Uyghur militants return home to China and the Xinjiang Province, they were trained and are supposed to terrorize and destabilize China, especially in the Xinjiang Province, home to this pivotal Belt and Road area.

However, instead of putting them in concentration torture camps – as the US does with their war prisoners, sending them to the world’s most infamous torture prison, Guantanamo, a US-held enclave in Cuba.

Chinese authorities re-educate the returning, radicalized Uyghurs, so as to re-integrate them again into  Chinese society. They have been very successful at that. Hence, the peaceful, colorful and often festive ambiance throughout Xinjiang and especially the city of Kashgar. Xinjiang is increasingly becoming a tourist destination, for Chinese, as well as foreign visitors.

This is what really happens. No Chinese concentration camps. No forced labor.

But the truth doesn’t fit the western narrative of “evil China”, discriminating against and torturing a Muslim minority.

This is the true face of the coin that the world ought to know, but is constantly denied by biased and outright “bought” western media.

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Peter Koenig is a geopolitical analyst and a former Senior Economist at the World Bank and the World Health Organization (WHO), where he has worked for over 30 years on water and environment around the world. He lectures at universities in the US, Europe and South America. He writes regularly for online journals and is the author of Implosion – An Economic Thriller about War, Environmental Destruction and Corporate Greed; and  co-author of Cynthia McKinney’s book “When China Sneezes: From the Coronavirus Lockdown to the Global Politico-Economic Crisis” (Clarity Press – November 1, 2020)

He is a Research Associate of the Centre for Research on Globalization, and a non-resident Fellow of the Chongyang Institute of Renmin University, Beijing.

Former Pfizer VP Tells RFK, Jr.: Young, Healthy People Shouldn’t be Coerced into Taking ‘Experimental’ Vaccines

 

Former Pfizer VP Tells RFK, Jr.: Young, Healthy People Shouldn’t be Coerced into Taking ‘Experimental’ Vaccines

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Dr. Mike Yeadon, former vice president of Pfizer, expressed his uncertainty about the safety of mRNA vaccine technology in an interview with Children’s Health Defense Chairman Robert F. Kennedy, Jr., on the “RFK Jr The Defender Podcast.”

COVID vaccines are “a completely novel technology” that should not be called vaccines, according to Dr. Mike Yeadon, former vice president and chief scientist for allergy and respiratory at Pfizer.

In an interview with Children’s Health Defense, Chairman Robert F. Kennedy, Jr., on the

RFK Jr. The Defender Podcast,”  (click below to access podcast)

Yeadon said he was surprised to learn COVID vaccines used mRNA technology.

When he left his position at Pfizer 10 years ago, Yeadon said scientists were “miles away” from creating a product using mRNA technology that could be safely administered to everyone.

Yeadon, who has 32 years of experience leading new medicine research in the pharmaceutical industry, said:

“I was intrigued as to what they’ve done to fix the difficulties, which are safe delivery, really safe delivery of a message into a cell that will allow it to then copy that message and do something useful without in any way being harmful. I don’t really understand how they’ve succeeded because those were always the problems in the lab. Can’t get it into cells without hurting them to do what you want. Of course, I’m not sure they have succeeded.”

Because COVID vaccines use experimental technology that may pose serious side effects such as blood clots, Yeadon said, “we should absolutely not be offering them to young, healthy people who are not at risk from the virus.”

He said:

“I have two healthy adult girls, 25 and 29 years-old, and I would be really upset if they ended up being coerced into taking these products because they’re healthy and young, and there are not any measurable risks from COVID-19.”

Listen to the full interview to hear Yeadon and RFK, Jr. discuss the totalitarian nature of vaccine passports and why the push for COVID vaccine booster shots is clouded in deception.

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Featured image is from Children’s Health Defense

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