Globalization is creating welfare states across the world
Don't be fooled. Most of the places remittances are going are not looking to build anything valuable of their own. Basically, in my view it is nothing but modern day imperialism where instread of Western countries taking over poor countries, people from poor countries come to America to do menial jobs and get exploited.
THE money flows in dribs and drabs, crossing borders $200 or $300 at a time. It buys cornmeal and rice and plaid private school skirts and keeps the landlord at bay. Globally, the tally is huge: migrants from poor countries send home about $300 billion a year. That is more than three times the global total in foreign aid, making ?remittances? the main source of outside money flowing to the developing world.
Surveys show that 80 percent of the money or more is immediately spent, on food, clothing, housing, education or the occasional beer party or television set.
Tags for this Thread