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World Financial Institutions

The International Monetary Fund and the World Trade Organization rule trade worldwide, ostensibly helping developing countries enter the 21st century by investing in their modernization, and regulating trade to allow smaller nations compete with the big boys. But this "aid" often comes with a heavy price. Developing nations are often driven into deep debt, and then forced to turn their public services over to multinational corporations. Meanwhile, trade rules force developing nations to weaken rules on labor and environment in order to remain competitive.

Calls grow for a new model for global trade
by Robert WeismanBoston Globe
October 9th, 2008
Now come the second thoughts on globalization, as never before have world markets been so integrated. The current financial crisis could mark the start of an effort to overhaul the global financial system conceived at the 1944 summit in Bretton Woods, N.H., which set the rules of international commerce for industrial countries.

Bailing out Germany: The Story Behind the European Financial Crisis
by Pratap ChatterjeeCorpWatch Blog
May 28th, 2012
A large chunk of the Eurozone bailouts are for speculative schemes that were handed out by banks in just four countries Belgium, France, Germany and the UK. So why are Greece, Ireland, Italy, Portugal and Spain being blamed? And who is really getting bailed out?

The IDB—50 Years, Zero Reflection
by Laura CarlsenAmericas Policy Program, Center for International Policy
April 3rd, 2009

Who Will Determine the Future of Capitalism?
by Philip Mattera
March 13th, 2009

Norway finds Canada's largest publicly-traded company, Barrick Gold, unethical
by Sakura
February 2nd, 2009
Norway's Ministry of Finance announced Friday that it would exclude mining giant Barrick Gold and U.S. weapons producer Textron Inc from the country's pension fund for ethical reasons. This is an especially significant judgment for Canada, as Barrick Gold is currently Canada's largest publicly traded company.

EU: Court hits at Brussels secrecy
by Andy BoundsFinancial Times
November 8th, 2007
The European Union's secretive decision-making processes were condemned on Thursday in a legal judgment that should lead to more light being shed on how thousands of regulations affecting businesses are hatched.

CONGO: World Bank accused of razing Congo forests
by John VidalThe Guardian (UK)
October 4th, 2007
The World Bank encouraged foreign companies to destructively log the world's second largest forest, endangering the lives of thousands of Congolese Pygmies, according to a report on an internal investigation by senior bank staff and outside experts.

Digging for Dirt in the DRC?
by Amelia Hight
July 25th, 2007
As the Congolese government begins a review of mining contracts, a mining kingpin is deported on unrelated corruption charges, and the World Bank faces accusations of failure to provide oversight of contract deals.

BRITAIN: Companies 'looting' a continent
by Fran AbramsBBC News
July 24th, 2007
Gordon Brown has signalled he wants to see poor countries develop through trade rather than aid.

WORLD: A Way for Resource-Rich Countries to Audit Their Way Out of Corruption
by Tyler CowenThe New York Times
July 12th, 2007
An Oxford economist has a new and potentially powerful idea: setting up an voluntary international charter to guide transparency efforts in resource-rich developing countries, in order to stave of corruption.

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