Breaking the myths propagated by the governments about the humane pro-poor policies of the World Bank and the IMF, the author said the reality was far from truth.
"Created by the United Nations, the WB as the name suggests is there to help the world, especially the poorest nations but it is far from true. The WB and IMF operate like any commercial bank but with vast additional powers to dictate governments. The Third World debt is way over $1000 billion today."
Terming the multinational and transnational corporations as the global feudals, the author points out that four fifths of the world's top 200 multi-national corporations are based in just five countries with 40 per cent of these in the USA alone.
"Less than a decade ago, their combined sales were over $3,000 billion, an amount equivalent to one third of the world's Gross Domestic Product. Since then their profits have soared 350 per cent."
Exploring the militarization of world society and its effects, the author said there had been over 200 wars since 1945 with almost all of them occurring in the third world as proxy wars for the North. In 95 per cent conflicts, there have been outside interventions fought with weapons supplied mainly by the great powers as in Korea, Vietnam and Afghanistan. The total 21 million died in East and South Asia, Africa, Middle East and Latin America, more than twice as many civilians died as military personnel, the author pointed out.
by Arshad Sharif
Article reprinted, courtesy of DAWN, Pakistan’s most widely circulated English Language newspaper. http://www.dawn.com
"Created by the United Nations, the WB as the name suggests is there to help the world, especially the poorest nations but it is far from true. The WB and IMF operate like any commercial bank but with vast additional powers to dictate governments. The Third World debt is way over $1000 billion today."
Terming the multinational and transnational corporations as the global feudals, the author points out that four fifths of the world's top 200 multi-national corporations are based in just five countries with 40 per cent of these in the USA alone.
"Less than a decade ago, their combined sales were over $3,000 billion, an amount equivalent to one third of the world's Gross Domestic Product. Since then their profits have soared 350 per cent."
Exploring the militarization of world society and its effects, the author said there had been over 200 wars since 1945 with almost all of them occurring in the third world as proxy wars for the North. In 95 per cent conflicts, there have been outside interventions fought with weapons supplied mainly by the great powers as in Korea, Vietnam and Afghanistan. The total 21 million died in East and South Asia, Africa, Middle East and Latin America, more than twice as many civilians died as military personnel, the author pointed out.
by Arshad Sharif
Article reprinted, courtesy of DAWN, Pakistan’s most widely circulated English Language newspaper. http://www.dawn.com