Part 11/13:
The ramifications of Britain's offshore financial empire extend far beyond its shores. As developing countries lose more than $1 trillion each year due to illicit capital flight and tax evasion, they find themselves in a cycle of dependency and indebtedness. For instance, the wealth extracted from Africa far exceeds the continent’s foreign debt, suggesting that countries like Britain are not just passive participants but active facilitators of systemic looting.
These financial practices impede development, locking nations in a state of poverty while preventing effective governance. Western nations continue to lobby against international efforts to establish a unified regulatory framework, prioritizing their financial interests over global equity.