​Can this low-interest loan → high-interest deposit strategy actually work?

China’s one-year loan rate is around 3%,, while countries like Nigeria (27%) or Zimbabwe (35%) offer very high returns on deposits or government bonds. So in theory, you could borrow in a low-interest country and place the funds in a high-interest market to earn the spread.

To protect against currency depreciation, I thought about adding a hedge: Use the deposit as collateral and sign a contract for a property or asset in the high-interest country equal to the same value. If their currency drops, selling that asset should cover the exchange-rate loss