WTO, IMF, World Bank
The three institutions of globalisation. The epitome of today's economy. Really?
Through them, the rich are made richer and the poor are made poorer. They buy up foreign resources, in the disguise of 'helping' the locals to generate income but they help themselves to the riches instead.
A short working example: World Bank loans country A $2 billion dollars to fund an oil drilling site on the condition that contract must be given to a certain company (hint: American) like ExxonMobil. Once ExxonMobil starts making money from that site, the country A has to pay back its debt with interest. How do the people of country A actually benefit? They don't.
The $2 billion dollars doesn't even leave the US, it is merely transferred from World Bank into ExxonMobil. Where does country A fit in? By paying back the money with interest.
This is your so called epitome of 21st century economy. BloodSuckers.
http://news.bbc.co.uk/1/hi/world/asia-pacific/4823842.stm
The attack comes against a background of rising anger at Western mining and energy interests in Indonesia.
There have also been demonstrations in Java against a decision to make the American Exxon Mobil company the operator of an oil and gas field owned jointly with Indonesia's state energy company.
http://cgi.cnn.com/2006/WORLD/asiapcf/03/16/indonesia.jayapura.ap/
"We have huge natural resources, but why are they extracted by foreigners while the Papuans are still poor?"
From AFP & AP:
"Freeport Indonesia will continue its efforts to ensure that the local people of Papua will share in the economic and social benefits resulting from its operations," the firm said.
The company currently gives 1 percent of its annual profits to seven tribal groups living near the mine.
Did you get that? The US mining company (Freeport-McMoran) shares not 30, 20, 10 or even 5 percent. It gives a ridiculous 1 percent of its profits to the most deserving people - the locals. If you were to open a shop with a partner, would you be happy if he spilt the earnings at 99% for him and 1% for yourself? Of course you wouldn't. That's why the people of Papua are protesting.
Again, BloodSuckers.
Through them, the rich are made richer and the poor are made poorer. They buy up foreign resources, in the disguise of 'helping' the locals to generate income but they help themselves to the riches instead.
A short working example: World Bank loans country A $2 billion dollars to fund an oil drilling site on the condition that contract must be given to a certain company (hint: American) like ExxonMobil. Once ExxonMobil starts making money from that site, the country A has to pay back its debt with interest. How do the people of country A actually benefit? They don't.
The $2 billion dollars doesn't even leave the US, it is merely transferred from World Bank into ExxonMobil. Where does country A fit in? By paying back the money with interest.
This is your so called epitome of 21st century economy. BloodSuckers.
http://news.bbc.co.uk/1/hi/world/asia-pacific/4823842.stm
The attack comes against a background of rising anger at Western mining and energy interests in Indonesia.
There have also been demonstrations in Java against a decision to make the American Exxon Mobil company the operator of an oil and gas field owned jointly with Indonesia's state energy company.
http://cgi.cnn.com/2006/WORLD/asiapcf/03/16/indonesia.jayapura.ap/
"We have huge natural resources, but why are they extracted by foreigners while the Papuans are still poor?"
From AFP & AP:
"Freeport Indonesia will continue its efforts to ensure that the local people of Papua will share in the economic and social benefits resulting from its operations," the firm said.
The company currently gives 1 percent of its annual profits to seven tribal groups living near the mine.
Did you get that? The US mining company (Freeport-McMoran) shares not 30, 20, 10 or even 5 percent. It gives a ridiculous 1 percent of its profits to the most deserving people - the locals. If you were to open a shop with a partner, would you be happy if he spilt the earnings at 99% for him and 1% for yourself? Of course you wouldn't. That's why the people of Papua are protesting.
Again, BloodSuckers.
posted by ShepHerd at 2:37 AM
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