The Guardian view on development's paradox: the rich benefit more than the poor | Editorial
Briefly

from www.theguardian.com1 month ago
The World Bank calculated that the rich world earned over $1.4tn in loan repayments from developing nations in 2023, showing a continuing exploitation.
www.theguardian.comhttps://www.theguardian.com/commentisfree/2025/jan/19/the-guardian-view-on-developments-paradox-the-rich-benefit-more-than-the-poor
Developing countries are forced to borrow in rich-world currencies, which burdens them further as their exports mainly consist of low-value goods compared to imports.
www.theguardian.comhttps://www.theguardian.com/commentisfree/2025/jan/19/the-guardian-view-on-developments-paradox-the-rich-benefit-more-than-the-poor
A 2022 study estimated that from 1990 to 2015, wealthy nations drained the poorer world of $242tn, showcasing the lasting effects of colonial extraction.
www.theguardian.comhttps://www.theguardian.com/commentisfree/2025/jan/19/the-guardian-view-on-developments-paradox-the-rich-benefit-more-than-the-poor
Fiji’s finance minister highlighted the severe economic challenges posed by global heating, stating that economies are facing historical contractions due to catastrophic weather events.
www.theguardian.comhttps://www.theguardian.com/commentisfree/2025/jan/19/the-guardian-view-on-developments-paradox-the-rich-benefit-more-than-the-poor
Read at www.theguardian.com
#global-inequality #debt-crisis #economic-exploitation #climate-change-impact #colonial-legacy
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