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UK's Richest 10% Extracted Half Of Wealth From India During Colonialism: Oxfam

  • The UK extracted USD 64.82 trillion from India during colonialism, with USD 33.8 trillion going to the richest 10 percent, according to Oxfam International's report.
  • Oxfam's report titled 'Takers, Not Makers' claims that the modern multinational corporation is a creation of colonialism, specifically citing the East India Company.
  • The report highlights that wages in the Global South are 87 to 95 percent lower than in the Global North for equal work, indicating ongoing economic disparity.
  • Oxfam states that legacies of colonialism continue to shape modern inequalities, contributing to a deeply unequal world benefiting the richest in the Global North.
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