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Economic Injustice Basic Facts

Economic Injustice Basic Facts. Gross Domestic Product (GDP) of the poorest 48 nations (i.e. a quarter of the world’s countries) is less than the wealth of the world’s three richest people combined. Bill Gates $40 B – now down to $18B Warren Buffett $37B – now down to $25B

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Economic Injustice Basic Facts

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  1. Economic InjusticeBasic Facts • Gross Domestic Product (GDP) of the poorest 48 nations (i.e. a quarter of the world’s countries) is less than the wealth of the world’s three richest people combined. • Bill Gates $40 B – now down to $18B • Warren Buffett $37B – now down to $25B • Carlos Slim Helu (Mexico) $ 35B – now $25B • Cost of providing basic health care and nutrition for all people in the world would be less than the annual cost of pet food in Europe and the U.S. • Annual revenue of Motorola, Inc (cell phone, telecom) is almost equal to the annual income of Nigeria, Africa’s second largest economy (almost the size of Europe & largest African population - 120 mil lion people). First Annual Peace, Justice & Empowerment Summit 9/22-23/09

  2. Economic Injustice (cont.) • Over 840 million people in the world are malnourished – 799 million from the developing world (153 million are under age 5; representing half of the entire US population). • Of 6.2 billion people living today, 1.2 billion live on less than $1 per day. Nearly 3 billion people live on less than $2 a day. • 12 million people dies each year from lack of water, including 3 million children from waterborne disease. • More than 113 million children in the developing world are without access to basic education’ 60% of them are girls. First Annual Peace, Justice & Empowerment Summit 9/22-23/09

  3. Economic InjusticeSummary • African descendants, regardless of where they live in the world, have been the most negatively affected by global apartheid. • Global apartheid is an international system of minority rule whose attributes include: • Indifference to basic human rights • Wealth & power structured by race & place • Structural racism • Political institutions of control • Nationally, predatory lending practices is another form of economic control & injustice: • Payday lending • Car Title lending/fees & kickbacks • High cost of overdraft lending • Resources: UN Food & Agriculture Association & ABA First Annual Peace, Justice & Empowerment Summit 9/22-23/09

  4. Who is in the forefront? TransAfrica Forum (Danny Glover, Chairman) • Addresses & exposes realities of global inequality & the negative impacts of globalization. • Works to support fair trade, international debt cancellation & human centered development across the African World. • Major focus is to educate and link the 150 million African descendants in Western hemisphere by building closer alliance between American, African, Latino & Caribbean peoples. • Current Campaign: Stop the Vulture Culture – to prevent vulture funds from making excessive profits at the expense of poor countries (H.R. 2932, Maxine Waters). • www.transafricaforum.org • www.jubileeusa.org First Annual Peace, Justice & Empowerment Summit 9/22-23/09

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