Reversing Myths About The IMF And ‘Country’ Risk – OpEd
The author says labels have flipped: Trump is painted as more statist and war-prone, while China (citing ambassador Zhu Jingyang) touts private firms’ 2025 overseas revenue of 3.70 trillion yuan ( 11.23%) and treats Marxism as method, not dogma.
The IMF is called a state-expanding lender, not a free-market shop; “country risk” (JP Morgan EMBI-style spread vs. Treasuries) is recast as sovereign-debt risk that hurts private firms only when governments tax or squeeze them to pay creditors.
Argentina’s spread is said to have topped 600 bp on election nerves, weak data, thin BCRA reserve buying, and U.S. yield risk (FedWatch ~64% chance of a 25 bp hike Oct. 28); the writer claims Milei will service debt by leaning on households while big firms lobby.
Ideologies have died, in large part due to the confusion enhanced by the semantic lightness with which the media and, later, public opinion refer to economic or political issues. To the point that the West, at least for the moment, is going against the principles it has historically upheld while the self-styled “communist” countries, also going against their principles, ironically, take the right direction.
While Trump, in particular, seems to be betting more and more on state interventions, to the point that he opts for war – with all the loss of innocent lives and destruction that entails – obtaining the opposite result to what is expected as always results from all violence, the Chinese state gives lessons in openness towards private activity, free trade and peace.
Among others, Zhu Jingyang, China’s ambassador to Colombia, pointed out that: “Private enterprises have become a crucial engine for the development of China’s foreign trade. According to the Top 500 Private Enterprises Survey and Analysis Report… of 2026, in 2025, the total overseas operating revenue of China’s top 500 private enterprises reached 3.70 trillion yuan, representing an increase of 11.23%… “
When it was pointed out to him that this was a “strange communism”, he replied: “Marxism is a scientific methodology, not an immutable dogma. Socialism must adapt to........
