BUSINESS INVESTORS GUIDE TO POVERTY IN AFRICA, ASIA, AND SOUTH AMERICA

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Information about BUSINESS INVESTORS GUIDE TO POVERTY IN AFRICA, ASIA, AND SOUTH AMERICA
Business & Mgmt

Published on August 1, 2009

Author: mbalectures

Source: slideshare.net

BUSINESS INVESTORS GUIDE TO POVERTY INAFRICA, ASIA, AND SOUTH AMERICASome nations of the world seem to be poor merely because their national assets areintentionally undervalued by the great industrial powers of the West. In the yearsfollowing the industrial revolution, this type of economic asymmetry wasoriginally conceived by European colonists who needed indentured slave labor,and cheap raw material. The primary idea was to divide the world into low wagenations and high wage nations. These inequalities were created for economicexploitation. The division locked many nations into poverty for decades andhelped establish low wage economic zones. This was done with the intent oflaying down political power equations for subjugation. While the asset values ofWestern business entities were brazenly inflated through financial illusions, thenational assets of many countries in South America, South East Asia, and Africawere forcefully undervalued. To save costs, businesses in Western countriesoutsource work to low wage regions. From footwear manufacture to softwaremanufacture, work is now outsourced to low wage nations.Many American and European technology companies have been doing high wagescientific research work in low wage countries such as India. They have set up offshore research hubs in low wage countries. Incidentally, it may not be immediatelyapparent to most American citizens that outsourcing high pay work to a low wagenation with the intent of under compensating a foreign worker is technically thesame as embezzling money and national labor resources from a low wage nation.In other words, American and European business corporations can utilizeprevailing global wage dynamics to legally embezzle millions of dollars from thirdworld nations. We notice that Western economists have remained silent on thisissue of international trade arising out of wage disparities. In an earlier period inhistory, American farmers in the southern states had embezzled money by undercompensating slaves.Economists of western nations saw themselves as members of societies on the topof the food chain. They modeled their theories accordingly. With convolutedeconomic reasoning, nations with abundant mineral resources were kept politicallyand economically weak. Many countries were driven to supporting Westernnations by offering cheap raw materials and cheap labor. Later, they were alsocoerced to modify their trade laws and consume industrial products produced byrich nations. Therefore, it is the economic agendas of a few Western world powersthat decided which nations ought to be rich and which nations ought to remainpoor. It is said that influential philosophers like Immanuel Kant tried to wake upCopyright © 2011 by S.Srikantia. All Rights Reserved. 1

ordinary citizens from their slumber and help them become more vigilant. Thosewho have been vigilant have been able to recognize patterns in the way the globaleconomy is being rigged and manipulated to benefit the Western powers.An eminent American sociologist named Immanuel Wallerstein explained thatprosperity or poverty was caused fundamentally by the global economicconstitution. Wallerstein further explains that the world economy framework lockspoor nations permanently in a state of poverty. When the laws of the worlddemand the survival of the fittest civilizations, the United Nations (UN) is notgoing to bend over backwards to rescue weaker nations from Western imperialists.Moreover, the United Nations, World Bank, World Trade Organization (WTO),and the International Monetary Fund (IMF) are all organizations whose top levelbureaucrats are closely controlled by the political machinery of the great industrialpowers. Somewhere in this complex economic power framework, Wall Streetplays the role of inflating the value of America’s financial assets and giving herthe illusionary muscle power to masquerade as a giant economic power.Keeping regions in Africa in a perpetual state of social unrest had helped Europeancolonists engaged in mining. For American and European companies withimperialistic agendas, it made perfect business sense to have disorder, socialunrest, and political turmoil in South America and Africa. Wealth annexationcould be carried out more brazenly under conditions of chaos. If wealth annexationis the principal goal, it would be a good strategy for American capitalists,politicians, and multinational corporations to keep South America and Africa ina constant state of social turmoil. In Africa, brutal dictators are able to keep theirnations in a state of anarchy. These dictators also have the full moral support ofWestern politicians, business tycoons, and multinational corporations.In the last century, the social disorder in Africa was a blessing for Westernmultinational corporations. For the benefit of corporate expansionism, Africa hadto be kept poor, weak, and illiterate until a significant portion of the region’swealth was sufficiently annexed. Incidentally, the British colonists knew thateducated citizens in third world civilizations tended to protest colonial incursions.From a perspective focusing on wealth acquisition, it was an excellent economicstrategy to deny education to young Africans.Copyright © 2011 by S.Srikantia. All Rights Reserved. 2

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