41 upvotes, 1 direct replies (showing 1)
View submission: The Guardian View on Development’s Paradox: The Rich Benefit More Than The Poor
Submission Statement:
The Guardian's editorial highlights the persistent economic disparity between wealthy and developing nations, emphasizing that colonial-era extraction patterns continue to this day. The World Bank reported that in 2023, affluent countries received over $1.4 trillion in loan repayments from developing nations, a figure projected to exceed $2 trillion annually by 2030. A 2022 study found that between 1990 and 2015, richer nations "drained" $242 trillion from poorer countries, amounting to approximately a quarter of the global north's income. This systemic imbalance hinders the global south's development and perpetuates inequality.
Comment by kaspar42 at 20/01/2025 at 18:50 UTC
28 upvotes, 2 direct replies
The World Bank reported that in 2023, affluent countries received over $1.4 trillion in loan repayments from developing nations, a figure projected to exceed $2 trillion annually by 2030.
So we should stop providing loans to developing nations, or what's the point the author is trying to make?