Humanity is undergoing in the post-Cold War era an economic and social crisis of unprecedented scale leading to the rapid impoverishment of large sectors of the World population. National economies are collapsing, unemployment is rampant. Local level famines have erupted in Sub-Saharan Africa, South Asia and parts of Latin America. This “globalization of poverty” –which has largely reversed the achievements of post-war decolonization– was initiated in the Third World coinciding with the debt crisis of the early 1980s and the imposition of the IMF’s deadly economic reforms.
The New World Order feeds on human poverty and the destruction of the natural environment. It generates social apartheid, encourages racism and ethnic strife, undermines the rights of women and often precipitates countries into destructive confrontations between nationalities. Since the 1990s, it has extended its grip to all major regions of the World including North America, Western Europe, the countries of the former Soviet block and the “Newly Industrialized Countries” (NICs) of South East Asia and the Far East.
This Worldwide crisis is more devastating than the Great Depression of the 1930s. It has far-reaching geo-political implications; economic dislocation has also been accompanied by the outbreak of regional wars, the fracturing of national societies and in some cases the destruction of entire countries. By far this is the most serious economic crisis in modern history. (Michel Chossudovsky, The Globalization of Poverty, First Edition, 1997)