some $1 trillion is stolen out of global South countries each year and stashed in offshore secrecy jurisdictions, mostly by multinational companies seeking to evade taxes.42 For example, companies might generate profits in Guatemala or South Africa, but then shift that money into tax havens like Luxembourg or the British Virgin Islands. This starves global South countries of the revenues they need to invest in public services. But it is not an intractable problem: we could shut down the tax evasion system with laws to regulate cross-border trade and corporate accounting.
