I thought this was self explanatory since you guys mainline a lot of starving African kids in your mainstream media atleast, but apparently contrarianism has meant Chapos going the full circle and denying that it is actually even worse there.
Sincerely, someone in the global south. If you disagree, post below, I have a lot of time to explain.
Adding an edit to copy paste a comment where I replied in terms of what I mean
The amount of precariousness someone poor in the first world might face is not really comparable to what poverty in the south looks like. Rule of law is absent, the government is also absent, so while the social security net may be failing or too small in the first world– it’s entirely absent in the third. There aren’t enough teachers or doctors even for the people who can afford them. Children are born into indentured labour, by which I mean they are born to work off their parents debt, usually working from the age of 4 onwards. While we are all comrades, under the same boot of the bourgeoisie, remember that the workers of the third world may view the way that first world workers live in poverty as basically the good life.
Follow up question that I've been asked before that I just am not sure about:
"Why don't the locals just build their own businesses and make their own jobs?"
To me the answer is lack of local capital, but is this right? And can you provide a bit more detail?
yeah, the flow of capital to these places is severely restricted. and like everywhere else, even when there is capital, it's in the hands of the wealthiest, not accessible to poor workers. and then, even if you surmount those hurdles and start a business, who's going to pay you when no one has any money? this is what keeps regional capital out.
They can't compete with the capital flooding into the west, dollars are stronger than most of these countries currencies. A lot of developing countries succeed when they shut the west out actually.
What does "strong Currency" mean and why does that lead to capital flight, as opposed to direct violence and intimidation or government policy?
Or are these all pieces of the whole picture?
Pieces of the whole picture. Strong Currency means that the absolute value of your dollar is worth more than the other currencies, as a result of being propped up through subsidies, tarriffs and powerful central banks. Everybody wants to trade in dollars because they're what the world's economic systems are plugged to.