GOMA â€" "They realized he wasn't one of them because he didn't speak Swahili. Then they pulled him off the bus he was traveling on, stoned him to death, opened his chest and ate his heart." Hearing this story from a high-ranking United Nations official, one immediately asks if this is just a legend of the jungle. "A legend? No, we saw pictures of his roasted head being eaten."
This horrific story took place last October, after one of the massacres committed by the Islamist rebels of the Allied Democratic Forces (ADF) in Beni, in eastern Congo. The ADF are a group who formed in Uganda, and whom the government accuses of being linked to the Somali jihadists of al-Shabaab. They invaded Congo with the aim of conquering a land full of natural resources and have spent the past months imposing terror on locals.
"They come into the villages at night and take people out of their houses," said a witness who asked not to be identified. "Then they kill them with machetes â€" even women and children." Recently, part of the local population rebelled and lynched a suspected jihadist.
Cannibalism is nothing new in these parts. Joseph Conrad wrote about it at the end of the 19th century in his novel Heart Of Darkness, when the protagonist, Charles Marlow, throws the body of one of his helmsmen killed by savages overboard instead of letting his hungry men feed on him. Though horrifying, it is a ritual performed to obtain the strength of a defeated enemy.
The 20-year war that has claimed the lives of 25 million, has brought other fears to the town of Beni. "Every day," says the latest UN report, "more and more women cannot work in the fields for fear of being raped, and there are more child soldiers who are recruited and abused."
The Democratic Republic of Congo was already largely unstable after Leopold II of Belgium made it his personal property in 1885; then came the massacre of Italian airmen in Kindu in 1961. The latest troubles, however, began in 1994 after the Rwandan genocide. The Hutu responsible for the massacres sought refuge here, crossing at Goma's border. The Rwandan Tutsis, led by now-President Paul Kagame, gave chase, allying with Laurent Kabila to overthrow the Mobutu regime in Congo. But then Kabila broke with the Rwandans and the conflict has still not been resolved.
In the east of the country, Hutu guerrillas who want to reconquer Rwanda are active, as are the Patriotic Front of the Ituri Resistance (FRPI) and the Islamic ADF.
Why do we hardly ever hear about this perilous conflict, especially with migrants from the region landing en masse on our shores? The next wave could come from neighboring Burundi, where President Pierre Nkurunzina has provoked riots after announcing he would run for another term in defiance of the constitution. Though he won, the UN mission found the vote was not conducive to a credible election process.
In Beni, DRC â€" Photo: Razdagger
To rebuild regional stability, the UN launched the MONUSCO mission â€" its largest and most expensive yet, costing $1.3 billion and involving 20,000 soldiers a year. Leading it is German diplomat Martin Kobler, who was already in charge of a successful operation against the rebels of the FRPI. But the new specter is the Islamist ADF which, according to the director of the Virunga Park, Emmanuel de Merode, is "a jihadist training center."
Intelligence has not yet proved the ADF's affiliation with al-Shabaab, Boko Haram or ISIS, but has noted two disturbing facts. First, that recruitment comes through Uganda, via the road that leads to Somalia; second, the IED explosives being used are similar to those terrorists have used to kill hundreds of Westerners in Iraq and Afghanistan.
But who brought them into Congo? After his latest report to the UN Security Council, Kobler told La Stampa, "The connection with jihadists has not been proven but this does not mean that it doesn't exist. I cannot give guarantees on how the situation will be in a year."
An uncertain future
There aren't many devout Muslims here, but an infinite number of poor people still live in mud huts and could easily be swayed by the prospect of money. In 2016 there will be presidential elections. The constitution prohibits Joseph Kabila from running again, however in January he sought to change this, saying that before voting a census should take place â€" which would take years to complete. Street protests led him to back down, but the stability of Congo now depends on his decisions.
This is the heart of Africa, not only geographically but metaphorically too. It has wealth of every kind â€" from gold to diamonds to coltan, which cellphones are made of â€" but it cannot handle them for the good of everyone.
The Democratic Republic of Congo is undermined by corruption, war and tribal rivalries, but it still has real reasons to hope. Right now, the country is at a crossroads between leading the African renaissance, and the danger of returning to the horrors of the past.
Crunching the numbers of South Korea's personal and household debt offers a glimpse into what drives the win-or-die plot of the Netflix hit produced in the Asian country.
SEOUL — The South Korean series Squid Game has become the most viewed series on Netflix, watched by over 111 million viewers and counting. It has also generated a wave of debate online and off about its provocative message about contemporary life.
The plot follows the story of a desperate man in debt, who receives a mysterious invitation to play a game in which the contestants gamble their lives on six childhood games, with the winner awarded a prize of 45.6 billion won ($38 million)... while the losers face death.
It's a plot that many have noted is not quite as surreal as it sounds, a reflection of the reality of Korean society today mired in personal debt.
Seoul housing prices top London and New York
In the polished streets of downtown Seoul, one sees endless cards and coupons advertising loans scattered on the ground. Since the outbreak of the pandemic, as the demand for loans in South Korea has exploded, lax lending policies have led to a rapid increase in personal debt.
According to the South Korean Central Bank's "Monetary Credit Policy Report," household debt reached 105% of GDP in the first quarter of this year, equivalent to approximately $1.5 trillion at the end of March, with a major share tied up in home mortgages.
Average home loans are equivalent to 270% of annual income.
One reason behind the debts is the soaring housing prices. In Seoul, home to nearly half of the country's population, housing prices are now among the highest in the world. The price to income ratio (PIR), which weighs the average price of a home to the average annual household income, is 12.04 in Seoul, compared to 8.4 in San Francisco, 8.2 in London and 5.4 in New York.
According to the Korea Real Estate Commission, 42.1% of all home purchases in January 2021 were by young Koreans in their 20s and 30s. For those in their 30s, the average amount borrowed is equivalent to 270% of their annual income.
Playing the stock market
At the same time, the South Korean stock market is booming. The increased demand to buy stocks has led to an increase in other loans such as credit. The ratio for Korean shareholders conducting credit financing, i.e. borrowing from securities companies to secure stock holdings, had reached 21.4 trillion won ($17.7 billion), further increasing the indebtedness of households.
A 30-year-old Seoul office worker who bought stocks through various forms of borrowing was interviewed by Reuters this year, and said he was "very foolish not to take advantage of the rebound."
In addition to his 100 million won ($84,000) overdraft account, he also took out a 100 million won loan against his house in Seoul, and a 50 million won stock pledge. All of these demands on the stock market have further exacerbated the problem of household debt.
42.1% of all home purchases in January 2021 were by young Koreans in their 20s and 30s
Game of survival
In response to the accumulating financial risks, the Bank of Korea has restricted the release of loans and has announced its first interest rate hike in three years at the end of August.
But experts believe that even if banks cut loans or raise interest rates, those who need money will look for other ways to borrow, often turning to more costly institutions and mechanisms.
This all risks leading to what one can call a "debt trap," one loan piling on top of another. That brings us back to the plot of Squid Game, "Either you live or I do." South Korean society has turned into a game of survival.
- Death & Debt: More French Heirs Renounce Succession Of ... ›
- The Ancient Art Of Debt Relief, A Brief History - Worldcrunch ›
- South Korea Owes Iran Billions But Won't Cough Up The Cash ... ›