Continued from Friday’s post:

NAFTA places the United States as the benefactor of cheap labor and goods from global south countries, and allows U.S. companies to exploit inexpensive labor in these countries. By keeping them dependent and unable to accrue capital, the global south remains subservient and reliant on economic giants like the United States. In the case of the IMF, run mainly by European nations and the United States, it is a coercive organization that has a track record of demolishing global south economies. It unilaterally implements procedures to bring global south countries out of debt through their Structural Adjustment Programs, but in turn it also exploits states under duress willing to take desperate measures to feed their own people.

(more…)