3rd world county (also known as developing nations / global south) were originally defined as countries that were not involved in the US / Soviet drama. There were recuperating slowly in the 40s - 70s post independence.

In the 70s, with the rise of power and new ways to increase wealth - world bank, IMF etc came about. Debt packages were sold to 3rd world countries through fancy marketing schemes :

In the 70’s, the big powers sold this idea of “infrastructure development”, and in the 80s and 90s it was called “sustainable development” , “millennial development in the 2000” and each time, countries were convinced to take on more debts to rebuild.

A lot of this development were bogus, not needed or overly hiked up through partnership with corrupt gov’ts of the 3rd world.

And every time there was an economy crisis, 3rd world country took longer time to recover leading them to widen the debt trap.

Eventually 3rd world countries were so poor that they were redefined from the non US/Soviet interfering countries to poor countries because that’s what they became.

The recent “climate change development” is another interesting topic - based on historical bluffs it makes you wonder who is scheming what. I believe in climate change, I struggle with extreme heat everyday, but I am also curious on the 1% of global power behind this marketing wheel.

An irony - the initial debts in the 70s were to build energy related industry specifically nuclear power plants - which is now aggressively being eliminated, and hydro dams which became abandoned projects in many countries.

And I’m guessing there is a global discouragement towards bitcoin mining because really - If your energy infrastructure can now self sustain based on the rewards, that means you don’t have to take on debts for it. The corrupts lose.

Keep in mind also that millions were killed because they fought back against these unwanted developments which caused them to lose their homes. A lot have died trying to survive from the corrupts. This has never been an easy battle.

If you are looking for a book to read this weekend, ‘The Blood Bankers : Tales from the Global Underground Economy” by James S.Henry , with foreword from Senator Bill Bradley is a good one. I’ve read it twice and I’ll still read it again, so much info to grasp and research on.

The book provides ties between banks, corrupt gov’ts and the political perks, wars , CIA to various countries and presidents involvement, private companies - the list goes on and on.

If you have read it already, would love your take on it