While food prices had skyrocketed, wages had been frozen to ensure “economic stability and stave off inflationary pressures.” From one day to the next, an entire country was precipitated into abysmal poverty: in less than a year the price of bread in Chile increased thirty-six times and eighty-five percent of the Chilean population had been driven below the poverty line.
ED Noor: Interestingly, in the new world of googleified searching, when one searches for "desaparecidos" and up come a lot of listings for a punk band with this name. My one thought was of the removal of history from the memories of humanity, just as the young of China have no knowledge of Tienanmen Square because it was basically squashed then hidden. However, in this instance, the word applies to "the Disappeared" of Argentina.
The military takeover in Argentina was a “carbon copy” of the CIA-led coup in Chile. Behind the massacres and human rights violations, “free market” reforms had also been prescribed ~ this time under the supervision of Argentina’s New York creditors.
Relentlessly feeding on poverty and economic dislocation, a New World Order was taking shape.
Peru was been punished for not conforming to IMF diktats: the price of fuel was hiked up by 31 times and the price of bread increased more than twelve times in a single day.
Since the publication of the first edition in 1997, the World has changed dramatically; the “globalization of poverty” has extended its grip to all major regions of the World including Western Europe and North America.
The US-led wars on Afghanistan (2001) and Iraq (2003) mark an important turning point in this evolving New World Order. As the second edition goes to print, American and British forces have invaded Iraq, destroying its public infrastructure and killing thousands of civilians. After 13 years of economic sanctions, the war on Iraq plunged an entire population into poverty.
War and globalization go hand in hand.Supported by America’s war machine, a new deadly phase of corporate-led globalization has unfolded.In the largest display of military might since the Second World War, the United States has embarked upon a military adventure, which threatens the future of humanity.
In Part 1, a new Introduction and a chapter entitled “Global Falsehoods” have been added. Also in Part 1, the impacts of “free markets” on women’s rights are examined. In Part II, on sub-Saharan Africa, the chapter on Rwanda has been expanded and updated following fieldwork conducted in 1996 and 1997. Two new chapters, respectively, on the 1999- 2000 famine in Ethiopia and on Southern Africa in the post-Apartheid era have been added. The chapter on Albania in Part 5, focuses on the role of the IMF in destroying the real economy and precipitating the breakdown of the country’s banking system.