The Debt Boomerang: How Third World Debt Harms Us All

Synopsis

Pinpoints the dangers to the ordinary people of the West of allowing the debt crisis to continue. It proposes debt relief as a means not only of addressing questions of justice and equity, but also an essential means of addressing problems in the West. Environmental resources which we all share, most notably the rain forests, are being cashed in by debtor nations - the pressure to earn foreign exchange promotes illegal drug exports as the best means of survival, immigration from impoverished countries, often illegal, stirs up race hatred and markets for export goods diminish as poor countries fall into a downward spiral of decreasing National income and political instability due to rising unemployment.