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The process is usually: - Help someone get control over the country, through elections or by force. Or just buy whoever wins. - Approve loans at high interest
by partycoder 9y ago
The process is usually:
- Help someone get control over the country, through elections or by force. Or just buy whoever wins.
- Approve loans at high interest rates and allow that person to keep the majority of the money so it never gets spent in the country itself.
- When the country defaults on the debt, start a re-structuring process involving the neocolonization: privatize everything, pass unequal trade treaties, pass unfair labor regulations... effectively enslave the country.
Low wages and no social mobility and no influence in government is almost undistinguishable from slavery. And that's the situation in many poor countries.
- phr4ts 9y agoWar on corruption has impoverished many African esp. West African countries. A new government spend the first half of their term 'fighting' corruption i.e trying to recover the looks of the previous government. Whether the recovered loot is not used for the benefit of the country is debatable. However, this new government uses it's remaining term to siphone and hide it's loots in Switzerland, Hong Kong - outside the country. Why? Because the next government could, usually seizes houses, companies, bank accounts in the country. The next insurance for these thieves in authority is to NEVER leave government. Thus, they keep looting and exporting the country's wealth - lowering the exchange rate, necessitating even larger thefts and government borrowing.