Every year, more than a trillion dollars are stolen from the poorest countries on earth, washed offshore and spent in the West on high end property, luxury goods and services.
@OliverBullough on tax havens and how Britain plans to fight back:https://www.newstatesman.com/politics/business-and-finance/2018/05/how-britain-finally-fighting-back-against-dirty-money-our-tax …
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That's pretty mid-range as an estimate. There are other well-sourced estimates that run as high $1.6 trillion and $2.6 trillion. So what would you have me do, ignore them?
Don't say they relate to "the Poorest Countries on Earth" people will assume thats what you mean. The estimates mainly relate to China, Russia, Mexico, India, Malaysia, Brazil, S Africa etc... why not say "major emerging economies"?
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I try to avoid jargon terms like "emerging economies", since I don't really understand what it means. Where are they emerging to, and where were they before they emerged? The source countries for this money are poorer per capita than the West, so that's what I say.
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$1 trillion is estimate of illicit capital flight from places like Russia, China, Malaysia etc... which is just not the same thing as "a trillion dollars stolen from the poorest countries on earth'. $2.6 trillion is...https://globalanticorruptionblog.com/2016/01/05/its-time-to-abandon-the-2-6-trillion5-of-global-gdp-corruption-cost-estimate/ …
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