Copyright 2005 Ofer ShoshaniThis week
Live 8 mega-event turned our attention to
problem of poverty. We learned that a child dies from it every three seconds. While we wait for
world to finally do something in order to save
African kids, we should look closely at
statistics and
true extent of international poverty.
The distribution of Global Capital
Half
world, nearly three billion people, lives on less than two dollars a day. 1.3 billion people live on $1/day. The Gross Domestic Product of
48 poorest nations, i.e. a quarter of
world’s countries, is less than
wealth of
world’s three richest people combined. The 48 poorest countries account for less than 0.4 per cent of global exports.
The richest 50 million people in Europe and North America have
same income as 2.7 billion poor People. The combined wealth of
world’s 200 richest people hit $1 trillion in 1999;
combined income of
582 million people living in
43 least developed countries is $146 billion.
The current LIVE 8 campaign is trying to eliminate
debt catastrophe:
developing world spends $13 on debt repayment for every $1 they have received in aid. The poorer
country,
more likely it is that debt repayments are extracted directly from people who neither contracted
loans nor received any of
money. As a result of
debt catastrophe, millions of children have died each year because their government couldn’t reduce poverty levels.
For example,
lives of 1.7 million children have been needlessly lost in year 2000 because world governments have failed to reduce poverty levels