How currency, international and local trade laws used to benefit the West

Table of Contents

1. Currency Manipulation & Financial Systems

Petrodollar System: The U.S. dollar became the world’s reserve currency after the 1944 Bretton Woods Agreement. Later, oil exports were tied to the dollar (petrodollar), ensuring demand for USD and reinforcing Western financial power.
IMF & World Bank Policies: Loans to developing nations often came with structural adjustment programs (SAPs), forcing privatization and opening markets to Western corporations.
Sanctions & SWIFT System: The West controls global financial networks (e.g., SWIFT), allowing it to impose economic sanctions on non-compliant nations.

WTO & Trade Disputes: Western nations shaped WTO policies to protect their industries while demanding open markets in developing countries.
Intellectual Property Rights (TRIPS Agreement): Western corporations secure patents on technology, medicine, and agriculture, forcing developing nations to buy expensive Western products.
Subsidies & Tariffs: Western nations heavily subsidize agriculture and industries, making their exports cheaper while pushing developing countries to remove trade barriers.

Free Trade Agreements (FTAs): Often favor Western businesses, limiting local industries’ ability to compete.
Privatization of Natural Resources: Many developing nations were pressured to sell state-owned resources to Western companies under the guise of efficiency.
Regulatory Capture & Corruption: Western-backed institutions influence local laws to ensure policies favor multinational corporations, often at the expense of local economies.