Colonialism or sovereignty? How the global financial system traps countries in debt
Geopolitical Economy Report
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Impact of Shadow Banking on Low-Income Countries
The 2007-08 crisis was caused by a shadow bank activity in the United States. Shadow banks, unregulated by the US Treasury, channel funds from powerful capitalists to low-income countries. These capitalists use savings, pensions, and insurance money to lend to such countries, for projects like creating a green boundary across North Africa below the Sahara.
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