An analysis of the systems and structures that contribute to the unequal distribution of wealth and power between the Global North and the Global South. The report identifies colonial practices that continue to shape global institutions, economic policies, and power dynamics. The authors argue that it is not possible to fully understand the nature of today’s inequality crisis without acknowledging the ongoing impacts of colonisation.

The report identifies key mechanisms through which wealth is extracted from the Global South, including unequal trade agreements, exploitative corporate structures, and an unjust taxation system. The report also discusses the impact of debt, financialization, and digital colonialism in exacerbating these inequalities. Ultimately, it makes the case for a new global economic system based on justice and equity. 

Key findings

• Global trade and investment regimes are weighed against the Global South.
• The Global North controls the increasingly dominant financial sector, in which debt and financing power are used as tools of extraction.
• Growing financialization drives privatization and inequality.
• Exploitative corporate structures and their influence on policy and governance facilitate extraction.
• Digital colonialism is another method of wealth extraction.
• Researchers in the Global North dominate funding, publishing, and international collaborations.

Recommendations

1. Governments should commit to a global inequality goal that dramatically reduces inequality between the Global North and the Global South.
2. Former colonial governments must acknowledge and formally apologise for the full range of crimes committed under colonialism. 
3. The IMF, the World Bank, the UN and other global institutions should completely change their governance to end the formal and informal dominance of the Global North.
4. Global tax policy should fall under a new UN tax convention and facilitate the payment of higher taxes by the richest people and corporations to radically reduce inequality and end extreme wealth.
5. Global South governments should form alliances and regional agreements that prioritize equitable, mutually beneficial exchanges; promote economic independence; and reduce reliance on former colonial powers.
6. The remaining non-self-governing territories must be supported to realize their rights to equal rights and self-determination.