I know the IMF imposed harsh austerity to ensure repayment and forced these countries to open up their markets to western countries.
But isn't China doing the exact same thing? They are also very strict about getting repaid in full. For ex. Entebee aeroport's revenues are being used to pay back the Chinese lender till date and Angola had to ensure access to oil.
So aren't these two models basically the same since they both indebt you and guarantee repayment? Why is China's model so much more successful? Is China just more open to restructuring debt? (they have done it many times)