A study that looked at more than 1,000 loans to Africa found that Chinese lenders never seized assets, never used courts to enforce payments, and never applied penalty interest rates.

US probably learnt the lesson from UK monarchy. "I will let you think you can be as rich as me, but I will always be richer than you and I csn crush you whenever I want".

It's not a society based on mutual help and respect, it's more like a silent caste system, that they pretend it to be based on meritocracy.

You can experience it everywhere, you just have to better open your eyes

Commenting by only reading the title, it’s interesting that that’s my experience in China as well. Those I know who try to make extra money by lending lost a lot during and after Covid. I wondered why they didn’t pursue it and they just say their clients went so broke with Covid and the economy that there is nothing to ask for. It’s a nice thought that even though a lot of money is lost they don’t consider legal action!

I'm guessing it's because China lends to help, the US lends to bury them in debt so they can steal resources when they default