5min chapter

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Episode 186: Nativism in Media (Part III) - IMF, NAFTA and Global Inequality By Design

Citations Needed

CHAPTER

The Dunnequil Exchange and the Global Economy

The rich countries of the global north have a monopoly in most of the dominant industries. Intellectual property rights mean that global South countries simply aren't allowed under world trade organization trade rules to move into those industries. Corporations in the global north can charge a markup for their own exports while forcing down the price of imports from the global South. Every year the South loses about 2.2 trillion dollars over the past few decades through this unequal exchange Through this mechanism of unequal exchange since 1960 it's about 62 trillion dollars.

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