In both the global North and South, government leaders have been convinced that the only path to prosperity is through economic development and growth, with a heavy emphasis on exports and ever-increasing global trade.
In both the global North and South, government leaders have been convinced that the only path to prosperity is through economic development and growth, with a heavy emphasis on exports and ever-increasing global trade. In order to build up the infrastructure required, governments borrow huge amounts of capital to finance development projects.