Thursday, April 19, 2007 - /Against/I don't like/down with/Anti/de-/ gloilization and third world countries :
In the picture most of the third world country's profits are being taken away to pay their debt, and they are only left with a small charitable aid to support their country's people and economy.
This was actually sparked off by colonial rule,accompanied with new economic systems and participation of the global market where Third World resources are being exported. Third World countries grew more dependent on global trading and financial and investment systems and they were loaned billions of dollars to fianance technologies which would mordenize the Third World.
For example, US industries and other Western companies have invested heavily on the Third World economy as they were attracted by natural resources and cheap labour. American agribusiness cartels, heavily subsidized by U.S. taxpayers, dump surplus products in other countries at below cost and undersell local farmers, therefore causing more farmers to turn to cash crops (such as coca and cotton) to export to other countries to make money therefore leaving less acres of farming areas to grow crops to feed the local population. The savings that the big businesses reap of the cheap labour in Third World countries left the governments with very little money to settle thier debt. Therefore the Third World countries are sucked into a vicious cycle of national debts, being exploited by Western industries and poverty.
source from http://www.ivcs.org.uk/intaf/intaf8.html
here is a picture to further illustrate the debt faced by Third World countries.
here is a picture to further illustrate the debt faced by Third World countries.
the debt of the Third World countries was $1.3 trillion at 1990 with the top debtors were Brazil ($116 billion), Mexico ($97 billion), and Argentina ($61 billion). Of the total developing-country debt, roughly half is owed to private creditors, mainly commercial banks.
figures from http://www.econlib.org/library/Enc/ThirdWorldDebt.html
e-globalised-4 blogged at 7:43 AM
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Thursday, April 19, 2007 - /Against/I don't like/down with/Anti/de-/ gloilization and third world countries :
In the picture most of the third world country's profits are being taken away to pay their debt, and they are only left with a small charitable aid to support their country's people and economy.
This was actually sparked off by colonial rule,accompanied with new economic systems and participation of the global market where Third World resources are being exported. Third World countries grew more dependent on global trading and financial and investment systems and they were loaned billions of dollars to fianance technologies which would mordenize the Third World.
For example, US industries and other Western companies have invested heavily on the Third World economy as they were attracted by natural resources and cheap labour. American agribusiness cartels, heavily subsidized by U.S. taxpayers, dump surplus products in other countries at below cost and undersell local farmers, therefore causing more farmers to turn to cash crops (such as coca and cotton) to export to other countries to make money therefore leaving less acres of farming areas to grow crops to feed the local population. The savings that the big businesses reap of the cheap labour in Third World countries left the governments with very little money to settle thier debt. Therefore the Third World countries are sucked into a vicious cycle of national debts, being exploited by Western industries and poverty.
source from http://www.ivcs.org.uk/intaf/intaf8.html
here is a picture to further illustrate the debt faced by Third World countries.
here is a picture to further illustrate the debt faced by Third World countries.
the debt of the Third World countries was $1.3 trillion at 1990 with the top debtors were Brazil ($116 billion), Mexico ($97 billion), and Argentina ($61 billion). Of the total developing-country debt, roughly half is owed to private creditors, mainly commercial banks.
figures from http://www.econlib.org/library/Enc/ThirdWorldDebt.html
e-globalised-4 blogged at 7:43 AM
