How poor countries develop rich countries

If we add theft through trade in services to the mix, it brings total net resource outflows to about $3tn per year…That’s 24 times more than the aid budget. In other words, for every $1 of aid that developing countries receive, they lose $24 in net outflows…But by far the biggest network of tax havens is centered around the City of London, which controls secrecy jurisdictions throughout the British Crown Dependencies and Overseas Territories…In other words, some of the very countries that so love to tout their foreign aid contributions are the ones enabling mass theft from developing countries.
Note – our aid budget in Australia is down to 0.2% of GNI(Gross National Income) but it is one of ours who is CEO of Green Energy Fund, to help developing countries reduce emissions, just a bloke, negligible cash

>more> TheGuardian

About groundswellbasscoast

This is on behalf of local climate change group. Material is selected by Bernie McComb and does not necessarily represent opinion of whole group.
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