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...according to the United Nations, in 2006 the net transfer of capital from poorer countries....
- info27725
- May 9, 2015
- 1 min read
...according to the United Nations, in 2006 the net transfer of capital from poorer countries to rich ones was $784 billion, up from $229 billion in 2002. (In 1997, the balance was even). [she is counting: access reserves ... like China holding US T bills which help us but give low return, patents and copyrights, tax breaks for investing companies, brain drain, agricultural subsidies which help be agribusiness in N at expense of poor. Does Not mention debt repayment; "tied" foreign.]
Source: Tina Rosenberg, Reverse Foreign Aid, New York Times Magazine, March 25, 2005, 16-19.