Category Archives: Globalization

Wikileaks Exposes Super Secret, Regulation-Gutting Financial Services Pact

The document that Wikileaks exposed on Thursday is a portion of the financial services section. It is clearly designed to serve the pet interests of big international players. This agreement is designed to institutionalize the current level of deregulation as a baseline and facilitate the introduction of new products, further ease the movement of funds, data, and key personnel, and facilitate cross-border acquisitions and other forms of market entry.

New Zealand: The Shell Company Incorporation Franchises: Round-Up

In a series of recent posts on shell company incorporation scams, we reanalysed the New Zealand entities incorporated by GT Group (Ian Taylor), New Zealand Company Incorporators (Michael Taylor) and The Company Net (Glenn Smith). Curiously, some modest and uncontroversial reforms have yet to be enacted.

Ashoka Mody and Michael Walton: Story of a Fraying Capitalism in India

French economist Thomas Piketty has written a scholarly tome with the humdrum title, Capital in the 21st Century. The book has become an overnight sensation because Piketty documents an inherent tendency for ever-increasing inequality of income and wealth in capitalist economic systems. It is not an accident, he says, that many will be left behind even as others become richer. The book taps into a collective anxiety, coming as it does amidst the lingering after-effects of the global crisis and slowing global growth.

India’s capitalist dynamic — as in other emerging economies — is different from that in the richer countries that Piketty focuses on. Yet, the lessons Piketty offers should ring a cautionary bell. Indeed, even more so than in the rich countries, India could find itself in a low growth, high inequality and high insecurity trap. These are the real fears that bubble under the theatrics and ugliness of the ongoing political debate.

Gaius Publius: Did the “Clean Natural Gas” (Methane) Lobby Help Write the EPA “Clean Power Plan”?

Obama’s energy plan ignores methane as a greenhouse gas. That reflects the Administration and EPA buying into Big Oil and “clean energy” propaganda so as to permit more fracking.

Russian Companies Plan to Denominate More Trade in Renminbi

Russian companies are mounting a challenge to the dollar by seeking to arrange trade transactions in other currencies. But how serious a threat is it?

David Cay Johnston on the Perils of Our Growing Inequality

David Cay Johnston is a clear and lively conversationalist, and I anticipate readers will enjoy his discussion of his work over the last 20 years on inequality.

New Zealand: the Shell Company Incorporation Franchises (V) (and Panama and Switzerland)

Yet more live connections between New Zealand companies and international organized crime, plus some Panama and Switzerland, too

Wolf Richter: World Trade Suddenly Slumps (Just Forget ‘Escape Velocity’)

The US economy, and by extension the world economy, is desperately waiting for the spring escape velocity to finally kick in. But the latest world trade statistics say it’s not happening.

Global Food Security Needs States to Ally with Family Farmers

Yves here. If you live in an advanced economy, and are at least middle income, you probably don’t give much thought to the availability of food. Expect that to change in the coming years. Agribusiness is a major driver of food insecurity. Successful experiments show that relocalization of food production can be an effective remedy.

New Zealand: the Shell Company Incorporation Franchises (IV) (and Latvia)

New Zealand: more dubious companies in the New Zealand register, and another elusive company incorporator

America: Europe and Canada’s Willing Chump

How America facilitates a labor and environmental race to the bottom, helping companies based in Europe, Canada, and Mexico.

R. Hunter Biden Should Declare Who Really Owns His New Ukrainian Employer, Burisma Holdings

Trying to pierce the murk around the new Ukrainian venture of Vice President Biden’s son R. Hunter Biden

Michael Hudson: The New Cold War’s Ukraine Gambit

Michael Hudson discusses the economic and political motives behind making Ukraine a focal point in a new cold war, such as the fact that the Ukraine is an important supplier of military equipment to Russia.

New Zealand: the Shell Company Incorporation Franchises (III)

We remind the New Zealand government that a shell company network linked to $10-100Bn of alleged moneylaundering is still active in New Zealand.

The Chronic Exporters’ Curse?

Why the much-envied position of being a chronic exporter isn’t quite a bed of roses.