...according to the United Nations, in 2006 the net transfer of capital from poorer countries....

May 9, 2015

...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.

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