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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Joe S Pack who wrote (22682)8/17/2002 1:12:31 AM
From: elmatador  Read Replies (3) of 74559
 
What the money from J6P achieves. These effects include:

imposing austerity measures that force poor countries to slash spending on education, health and social programs;

encouraging privatization, which transfers public assets to wealthy elites and foreign investors and creates unemployment;

stifling local industries by making it hard for local people to get loans;

destroying the savings of poor people by causing devaluation of national currencies; and

forcing governments to remove trade barriers and dismantle their regulatory mechanisms, which results in:

lower wages for local workers, bankruptcy of local corporations, and layoffs

weakening of environmental standards for the sake of economic productivity, and subsequent pollution and destruction of the environment,

appalling working conditions and human rights abuses, and suppression of union organizing.

Is this something you should proud of?
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