Economic Injustice Basic Facts 1.Gross Domestic Product (GDP) of the poorest 48 nations (i.e. a quarter of the world’s countries) is less than the wealth of the world’s three richest people combined. Bill Gates $40 B – now down to $18B Warren Buffett $37B – now down to $25B Carlos Slim Helu (Mexico) $ 35B – now $25B 2.Cost of providing basic health care and nutrition for all people in the world would be less than the annual cost of pet food in Europe and the U.S. 3.Annual revenue of Motorola, Inc (cell phone, telecom) is almost equal to the annual income of Nigeria, Africa’s second largest economy (almost the size of Europe & largest African population mil lion people). 1 First Annual Peace, Justice & Empowerment Summit 9/22-23/09

Economic Injustice (cont.) 4.Over 840 million people in the world are malnourished – 799 million from the developing world (153 million are under age 5; representing half of the entire US population). 5.Of 6.2 billion people living today, 1.2 billion live on less than $1 per day. Nearly 3 billion people live on less than $2 a day million people dies each year from lack of water, including 3 million children from waterborne disease. 7.More than 113 million children in the developing world are without access to basic education’ 60% of them are girls. 2 First Annual Peace, Justice & Empowerment Summit 9/22-23/09

Economic Injustice Summary First Annual Peace, Justice & Empowerment Summit 9/22-23/09 3 African descendants, regardless of where they live in the world, have been the most negatively affected by global apartheid. Global apartheid is an international system of minority rule whose attributes include: Indifference to basic human rights Wealth & power structured by race & place Structural racism Political institutions of control Nationally, predatory lending practices is another form of economic control & injustice: Payday lending Car Title lending/fees & kickbacks High cost of overdraft lending Resources: UN Food & Agriculture Association & ABA

Who is in the forefront? TransAfrica Forum (Danny Glover, Chairman) 1.Addresses & exposes realities of global inequality & the negative impacts of globalization. 2.Works to support fair trade, international debt cancellation & human centered development across the African World. 3.Major focus is to educate and link the 150 million African descendants in Western hemisphere by building closer alliance between American, African, Latino & Caribbean peoples. 4.Current Campaign: Stop the Vulture Culture – to prevent vulture funds from making excessive profits at the expense of poor countries (H.R. 2932, Maxine Waters) First Annual Peace, Justice & Empowerment Summit 9/22-23/09 4