A World to Win: The Fight for Debt Justice w/ Heidi Chow
Jacobin Radio
00:00
The Debt Crisis of the 19 Eighties
In the 19 80s, debt came to be used as an incredibly convenient and effective way to maintain the economic power of the global north. The debt crisis was created by loans that were given out liberally in the 19 seventies by western banks. Some of these loans were given to dictators with no democratic ability. And then in the 19 eighties, the commodity prices fell. Tis tricked off a debt crisis in many countries. Mexico was the first country to default, and then brazil and argentina,. as a debt crisis took hold across the global south.
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