5min chapter

Coin Stories with Natalie Brunell cover image

Alex Gladstein: How Poor Countries Prop Up Rich Countries

Coin Stories with Natalie Brunell

CHAPTER

What's Happening in the West?

The World Bank and I have helped prop up a system that helps subsidize the way of life artificially, really, for people in the West. And at the end, it's all about sort of like deflation. So if you look at the external debt of the developing world, since 71, it's exponential. The average country has gone from having 50, $100 million of external debt to having $100 billion.

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