Economic Imperialism II

Some more light on Economic Imperialism or as many say - Neocolonialism.

In World war II, Germans tried to steal natural resources from neighbouring countries and now US does it very subtly through their financial power. They patent seeds, genes and medicines and then applying pressure on countries to cut their productivity through the application of intellectual property law.

World Bank and IMF - America's Puppets - make life hell for poor countries. They make predatory loans to desperate countries knowing fully they cannot pay back.

Jamaica, in 1990s, going through one of their worst crisis, was loaned money by IMF to overcome their money supply crisis but in return they were forced to import American food products. Flour, Bananas, Milk and all kinds of products that Jamaica had in abundance already were pouring in from US. What did it do? Thousands lost employment and more depression in the country. Interest rates were so high on the loan, the island crumbled in loan which took the country into deeper recession. Today, the contribution of agriculture to the national economy has fallen significantly. In 2007 it was 5.3 per cent, compared to 8.5 per cent in 1980. Deteriorating economic conditions led to recurrent violence as rival gangs affiliated with the major political parties evolved into powerful organized crime networks involved in international drug smuggling and money laundering.

WTO threatens to impose trade sanctions on Asian countries if they tried to ban cigarrete advertising. Today, more than a third of Chinese men are addicted to cigarrete generating billions in annual profits for Big Tobacco companies who are right now producing more Chinese casualties than any war in China's long history.

Movies like Blood Diamond, The constant Gardner and many more expose western countries' economic pressures on African countries. Just to import their medicines which are of substandard quality, they kill thounsands but make their millions. Similarly, kids are exposed to find diamonds in the mines that are precariously dangerous. Kids grow up in the shadow of guns and bombs. See these movies to get taste of brutality inflicted on these poor nations.

There are many more instances but this should give you a good glimpse of how trade sanctions can turn everything upside down. The whole process filters down to bigger problems such as drug trafficing, gang violence and terrorism.

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