The Third World - a few facts of what capitalism has caused

[revolutionary]

Of the 41 countries classified as highly indebted poor countries, 33 are in sub-Saharan Africa. In 2000, this region saw rising infant mortality, falling life expectancy, declining growth rates, and the lowest literacy rates for the last three decades.


The UK charity Comic Relief raised £35 million in 1999. Africa paid this back in debt service in just over a day.


Countries who have benefited from debt relief promised so far are still forced to prioritise spending on debt over the health of their people. Bolivia will spend $250 million a year on debt, almost three times as much as current spending on health.


In 1960, the income of the wealthiest 20 per cent of the world's population was 30 times greater than that of the poorest 20 per cent. Today it is over 60 times greater.

In 1995, the international community committed to reducing global poverty by half by 2015. Kofi Annan, Secretary General of the United Nations has said that without more debt cancellation, this target is a pipedream.


A billion people live on less than a dollar a day


Exxon profits this year were $16.9 billion, equivalent to the total debts of 13 African countries (Benin, Burundi, Chad, Guinea Bissau, Sao Tome, Togo, Rwanda, CAF, Sierra Leone, Mali, Somalia, Niger)

Caused by the companies of the West
fucking capitalists

[Kez]

Fuck the capitalists
join the youth revolution

www.yfrc.org.uk

comrade kamo

[Supermodel]

Good point but I fear you reach the wrong conclusion.

Yes, international debt is a problem that must be solved but it is by no means a problem caused by global corporations. Your friends at the World Bank and IMF are solidly to blame, and their policies are driven by the countries they pretend to answer to. Mostly USA, UK and Japan.

Corporations that are multinational such as Exxon (US) Royal Dutch Shell (Dutch, duh) and Siemens (Germany) in their globalization have brought industry, jobs and exports to the countries they are placed in. Most of those countries have currency restrictions which stop the corporations from repatriating profits, so the profits do not return to the imperial power but stay in the country of origin. This is a far different situation than back during the Cuban revolution, when imperialistic powers sucked the economic lifeblood out of the country.

[Jurhael]

Indeed, but think of what kind of jobs are they? They are often well below living wages and thers's no minimum wage laws in many of the countries. Also, what are the working conditions in such jobs? I bet they're dangerous or unhealthy just so coporations can make even more money...

[Dreadnaht1]

I think I'd rather be dead then living in a third world nation and working for Nike or ::gasp:: the GAP. They might be spreading industry but they're also turning everything they touch into their property, this includes slaves.

-Dread

[vox]

Actually, SM, it's not so different, for through a web of offshore "holdings," corporations can transfer capital pretty much howver they please. Too, you would do well to look at the human rights abuses, as well as the standard of living, before praising the role that capitalist globalism has played. Indeed, I don't see how you can separate the WB and the IMF from the workings of capitalism, for certainly it is not the many, but the few, who control their workings.

vox

[revolutionary]

The IMF do answer to the West because the western countries are the creditors that place money into the International M. Fund and therefore want the money back with a large interest.

1960's ::In Indonesia the British and U$A secretly supported a military coup by a ditator so that the dictator would let the IMF, World Bank and other companies back into the country after they had been kicked out by an elected ppl friendly leader.
The dictator took control and the country was privitised.
fucking capitalists