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By Michel Chossudovsky

During this new and elevated variation of Chossudovsky's overseas best-seller, the writer outlines the contours of a brand new international Order which feeds on human poverty and the destruction of our environment, generates social apartheid, encourages racism and ethnic strife and undermines the rights of ladies. the outcome as his targeted examples from all components of the realm exhibit so convincingly, is a globalisation of poverty. This booklet is a skilful mixture of lucid rationalization and cogently argued critique of the elemental instructions during which our international is relocating financially and economically.In this new enlarged variation - such as ten new chapters and a brand new creation - the writer reports the motives and outcomes of famine in Sub-Saharan Africa, the dramatic meltdown of economic markets, the death of country social courses and the devastation because of company downsizing and alternate liberalisation. The e-book has been released in eleven languages. Over 100,000 copies offered world-wide.

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In 1993, the World Bank redefined the basis of measuring and comparing per capita income. 1 are based on a new World Bank methodology which indicates a higher share for the low income countries than during the 1980s. Interviews conducted by author in Hanoi and Ho Chi Minh City in January 1991. org/ Chapter 2 Global Falsehoods G7 governments and global institutions, including the IMF, the World Bank and the World Trade Organization casually deny the increasing levels of global poverty; social realities are concealed, official statistics are manipulated, and economic concepts are turned upside down.

10 THE GLOBALIZATION OF POVERTY 19 IMF Economic Medicine Under IMF jurisdiction, the same "menu" of budgetary austerity, devaluation, trade liberalization and privatization is applied simultaneously in more than 150 indebted countries. Debtor nations forego economic sovereignty and control over fiscal and monetary policy, the Central Bank and the Ministry of Finance are reorganized (often with the complicity of the local bureaucracies), state institutions are undone and an "economic tutelage" is installed.

They serve the purpose of portraying the poor as a minority group representing some 20 percent of world population. Declining levels of poverty, including forecasts of future trends, are derived with a view to vindicating "free market" policies and upholding the "Washington Consensus" on macro-economic reform. The "free market" system is presented as the most effective means of achieving poverty alleviation, while the impacts of macro-economic reform are denied. Both institutions point to the benefits of the technological revolution and the contribution of foreign investment and trade liberalization, without identifying how these global trends foster increased poverty levels.

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