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Also called Debt-Bondage, bonded labor is a form of
modern day slavery. A person enters into debt bondage
when their labor is demanded as a means of repayment
of a loan.
Typically, the laborer is tricked into accepting terms
which are exploitive in nature, and in gross violation
of their human rights. The combination of unlawfully
low wages and unlawfully high interest rates create
a situation of perpetually increasing debt.
Despite being prohibited by international law, debt
bondage continues to exist in both developed and under-developed
nations. An estimate by the International Labor Organization
suggests that 12.3 million people are trapped by debt
bondage at any one time. Other sources have estimated
that the true number is over 27 million.
Especially prevalent in South Asian counties including
India, Pakistan, and Nepal, such labor is supported
by local caste systems or other forms of social stratification.
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