> I remember this term appeared around 2005 when Australia was upset with China over trade.
I'm reasonably sure that it came from a US partisan split, where the Republicans were claiming to be an empire, while the Democrats wanted to be a "reality based community".
That being said, the ideas behind it are much, much older.
> a hedge fund comes up with ESG rules
I don't understand why a hedge fund would do this. Certainly a bunch of asset managers cared about ESG when it helped them win new business but that's all.
> IMF et al adopt it and then use that to decline or foreclose on poorer country loans.
The IMF is basically a disaster, has it ever been successful?
> (One of the reasons why the Chinese BRI is so successful is because the Chinese are much more clear in the transaction: resources for infrastructure. No silly ESG and climate rules.)
I mean that's all fine till they forclose on the loans and you end up with Treaty ports/foreign economic zones in your country.