Post by cjm on Jun 11, 2019 6:09:03 GMT
The big driver of the world economy is a plundering process where powerful corporations loot the natural resources of low-income countries.
Global extraction of natural resources has increased with the onset of the process of capitalist industrialization, growing at an astounding rate in the past 50 years. Global extraction of primary materials more than tripled to 92 billion tonnes in 2017 from 27 billion tonnes in 1970, an annual average growth of 2.6 percent , according to a 2019 report conducted by the United Nations Environment Programme-hosted International Resource Panel (IRP).
The highly capital-intensive nature of the extractive industry requires expensive upfront costs as well as ongoing investment to replace, modernize, and expand equipment and facilities, which forces communities and governments of poor countries to rely on foreign firms for financial assistance.
Essentially the writer expects investments without profits in a difficult industry.