With an estimated 29.8 million people in slavery, many more go uncounted due to the shady business tactics and controversial nature of the issue. Many children are bought in the slums or are enslaved in debt-bondage, never succeeding in paying-off their family’s loan.
Small children are forced into labor, sleep in the dirt, beg in the streets, and die of malnutrition and disease. These children are beaten and abused daily. Most girls are raped or thrown into sex-slavery. With no food, safe shelter, or clean water thousands die every day.
Debt bondage is a form of “modern-day slavery.” How does debt-bondage become slavery?
Many times a “good” job is promised to someone, or a small loan is taken by an individual. Most of the time the business owner takes advantage of the laborer’s lack of basic math skills and illiteracy, charging very high interest rates, paying low wages, charging for equipment use, and giving bogus fines for faulty work. In result the laborers are now working off higher and increasing debt; creating the endless cycle of slavery through debt-bondage, continuing through generations of children being born into labor. It is modern-day slavery.
As Defined by U.N.: “Debt bondage, that is to say, the status or condition arising from a pledge by a debtor of his personal services or of those of a person under his control as security for a debt, if the value of those services as reasonably assessed is not applied towards the liquidation of the debt or the length and nature of those services are not respectively limited and defined.” (-United Nations Supplementary Convention on the Abolition of Slavery, the Slave Trade, and Institutions and Practices Similar to Slavery, 1956)
*Sources: walkfreefoundation.org, U.S. Dept. of State, CNN Freedom Project, U.S. Dept. of Justice, ILO, Siddhorth Kara “Sex Trafficking: inside the business of modern slavery”, Shilpi Gupta “The Bondage of Debt”
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