It's not that I understand the argument, my point was that many of the mechanisms that provided enormous advantages to Western nations is often rarely spoken about. For instance, US can often infuse large amounts of cash through the central bank because it's position as the global reserve renders it very unsusceptible to inflation. There is also the inexorable power of WTO/IMF and these "international" agencies that are often steered entirely for the benefit of the US and its allies.

I understand this may not apply to EU nations to the same extent, but then there are all sorts of historical inequities in their favor (esp. Britain) that one wonders if this new found "righteousness" is a bit ahistorical.

Consider India - it's basically run by erstwhile cronies of the British empire, who basically transferred all of its generational wealth to the city in little under 200 years. This while it was made into a cocaine tanker to destroy China. It was made to fight European wars, while being footed with the bill, and now the British groan about the pittance they pay India in foreign aid. Never mind that this aid, is mostly geared towards the Anglo-Saxon eugenics schemes of all sorts.

India currently owes about half a trillion to the IMF, after being run by a IMF crony, and his Italian mistress for 10 years. It's easy to guess what the IMF will ask for (far more loudly) when it inevitably goes belly up.