Wednesday, 28 February 2007

The Third World - Overexploited (Michael Parenti)

As we see more and more Russian investment coming into Armenia and the government claiming that there is nothing wrong with it, and that the country needs investment to develop, it is worth to look at what this investment has meant for the vast majority of country exposed to Western models of investment over the past century. I don't mean to say that I agree to the points made by this video 100%, but there is some sence in listening to an alternative viewpoint and questioning, just how much investment and in what areas of economy are appropriate.

Transcipt from the video: [...] the Third World is not "underdeveloped" but overexploited. The gap between rich and poor nations is not due to the "neglect" of the latter by the former as has been often claimed. For forty years or more we have heard how the nations of the North must help close the poverty gap between themselves and the nations of the South, devoting some portion of their technology and capital to the task. Yet the gap between rich and poor only widens because investments in the Third World are not designed to develop the capital resources of the poor nations but to enrich the Western investors.[...]

Via Suryu

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