War by other means

-It’s like a colonial rule

-War in child labor, running down schools and hospitals
-War in debt

1980s- World bank, imf, Britain and American government

-cut govt spending, privatize, export or you wont get new loans.

Greatest transfer of Public wealth to private hands

*the new world order--Pres. Bush called it

World bank (works in secrecy) and IMF- conference in 1944-organized by Roosevelt

-to finance Europe and develop the third world
-united states as the biggest stake holder
-to promote private foreign investments by loans and investors
_China, France,

Rao states:
“The bank is still a bank”

Hellinger
The bank is promoting the interest of the 1st world in the 3rd world.
It attempts to portray itself as an institution that looks out for other countries
true in 1970 and 1980s

Dr. Susan George

The banks have made a killing
the debtors became 60% more in dept

The anti-slavery society

-declared that debt is a contemporary kind of slavery
in the Philippines
44% of national budget-interest charges foreign banks
3% only for health services

During the Marcos Regime

-Bataan Peninsula
Wack Wack Golf Club in Manila
-“The Big Scam”

President Carter-1977
- Stop the building of power plants because of the inefficiency and faulty design
-But did nothing about the power plants in the Philippines
Cavanagh
-KC goes to Manila
-opens other banks to give loans
-2.6 Billion dollar loan for the power plant

Aquino
-declared that the power plan was unsafe.
-Started legal actions against westing house
-Westing House paid the PH 100Million
-But aquino gave 400 million dollars, just to make the power station work
-The 400 Million dollars borrowed from the same export import bank

Cory Aquino
-“Land of Broken Dreams”
-she gave priority to paying of the debts

Amnesty International
-Political Killings- the most serious human rights in the Philippines

Philippines
-Smokey Mountain
-Most children get Diarrhea , pulmonia, etc.
-1 filipino child dies every hour because of the increase of payments for the debts
Debt- contributes to hunger

Calabarzon Super Project

turning food growing land into export
funded by Japan
Circle reform demanded by the IMF
will produce new debt for the Philippines