"Another cause for large scale debt has been the corruption and embezzlement of money by the elite in developing countries (who were often placed in power by the powerful countries themselves). These moneys are often placed in foreign banks (and used to loan back to the developing countries). Many loans also come with conditions, that include preferential exports etc. In effect then, more money comes out of the developing countries than is given in. This depresses wages even further due to the spiraling circle downwards to ensure that enough exports are produced."
http://www.globalissues.org/TradeRelated/Debt/Causes.asp
Even global organizations like the World Bank, IMF, WTO, G8, and others are keeping poor countries in debt on purpose. That's why there have been large mass protests around the world
http://www.globalissues.org/TradeRelated/FreeTrade/Protests.asp
But of course the American media never reports on this
2007-04-15
05:29:31
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1 answers
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Anonymous
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Politics & Government
➔ Other - Politics & Government