africa: GLOBAL “HOOVER EFFECT” SUCKING WEALTH OUT OF POOR COUNTRIES INTO THE U.S.

As the World Bank and IMF held their annual meetings to discuss the state of the global economy, The New Economics Foundation released groundbreaking data demonstrating that the global economy - as structured by western politicians and bankers - is acting as a giant “hoover”. The new analysis of global inequalities shows that globalisation is sucking wealth and resources out of the poorest countries and concentrating it in the hands of a few in the richest countries, particularly the United States.