“The notion that Pakistan controls the reigns to the economic resources of the country is incorrect—she doesn’t. The G-7 does. They are the ones who make all the economic decisions for us, for our country, through their institutions like IMF, World Bank, and WTO through the policies of SAP, TRIPS, and TRIMS. The idea is to expropriate our land, our labor, our raw materials, and our markets for their own profits. This is what economic imperialism is all about.”
Pakistan stands in debt of in excess of $38.8 billion 1 (2005 est.) to IMF and World Bank (WB), a debt perpetually increasing 2 (courtesy of Interest), a debt impossibly repayable (?), and yet, this scarcely bothers our lenders! So why do the IMF and WB continue to lend? And equally more important to know is from where do they find all this extra money to lend, especially when they are never repaid in full? (this is in itself a separate chapter of discussion altogether) The answer to first question however is straight-forward and obvious: they want to see us and keep us in debt forever, for debt is a kind of slavery, and a tool, a means, for them, to achieve their own economic agenda, the economic agenda being expropriation of our land, labor, raw materials, and markets, for owns profits. (Michael Parenti) This is what is known by Economic Imperialism.
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