This propaganda is insanely misleading. The USA created a bipartisan neocolonial "new model" in Ecuador (Biden's admin wants to use too), claiming to "save" it from Chinese debt by paying it in exchange for Ecuador selling the US its infrastructure and oil https://ft.com/content/affcc432-03c4-459d-a6b8-922ca8346c14

Ecuador's former elected leftist govt made deals with China to develop the country (which the IMF never does)

Ecuador's current right-wing puppet regime just signed a deal that will help the USA force China out, while private US banks will buy up Ecuador's infrastructure and oil

The US govt's neocolonial finance arm the Development Finance Corporation is working with US banks to "eject China from Latin America" by strong-arming countries to sell off their assets, while claiming to "save" them from much more favorable deals with China

So cynical and vile

This neocolonial "novel model" will enrich US banks by selling off state assets and enforce neoliberal austerity policies while also advancing the new cold war by pushing China out of Latin America.

The Biden admin plans to copy the Trump admin's strategy. Bipartisan imperialism

These agreements China has with Global South countries are much more favorable to the borrower than the harsh US-backed IMF loans that demand austerity

Ironically FT published research dispelling the US imperialist talking point of the "Chinese debt trap" https://www.ft.com/content/0b207552-6977-11e9-80c7-60ee53e6681d

China has renegotiated $50 billion in loans with Global South countries, with extensions, refinancing, and even debt forgiveness, often "resolved in favour of the borrower"

This research debunks the hypocritical debt-trapping Western imperialists warning of a "Chinese debt trap"

"China has a decade-old policy of forgiving interest-free loans to developing countries."

China has forgiven $6 billion of Cuban debt, while writing off loans with Angola, Zimbabwe, Ethiopia, etc.

Western imperialists warning of debt traps is pure projection of their own crimes