Pathway to Peace podcast 04-07-2021-Debt Trap Diplomacy: the bondage of debt

Title: Debt Trap Diplomacy: the bondage of debt

Synopsis: The Chinese Communist Party was founded in July 1921 in a small room in Shanghai's then French controlled district, with only 13 people in attendance (well that's according to the official history). Today, it has more than 95 million members - almost 7% of the country's population - and pulls the levers of the second-largest economy in the world, which is on track to overtake the US in the next decade. But critics have argued that their race to the top is largely in part to the 'Debt Trap Diplomacy' approach they appear to have taken. Is there any truth in this? And what about other financial institutions such as the World Bank and International Monetary Fund (IMF), do they fair any better? In this week's episode of Pathway to Peace, the presenters will be examining the problem of poorer nations being enslaved by debt. What are the causes and possible solutions and of course, what guidance does Islam give in building back a fairer society.

Presenters: Kalim Anwer & Nasir Sajjad