The London summit: Corruption, capital flight and tax havens

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THIRD WORLD RESURGENCE
Issue No. 309 (May 2016) Click on cover to download the magazine (PDF) COVER: The London summit: Corruption, capital flight and tax havens* The strange dialect and hidden tentacles of corruption British premier David Cameron's recent move to host an anti-corruption summit in London smacked of hypocrisy. By Jeremy Seabrook Why tax havens must go! Tax havens are drivers of global corruption, hurt developing countries the most, and serve 'no useful economic purpose'. The price of offshore havens This analysis of the global tax haven industry attempts a reassessment of the size and worth of the private wealth that is being held in these havens. By James S Henry Hiding Africa's looted funds: The silence of Western media The Western media is strangely silent on the role played by Western financial institutions and corporations in facilitating the transfer and laundering of stolen loot. By Lord Aikins Adusei The issue of private sector corruption in Africa While traditionally corruption in Africa has been seen as a public sector phenomenon, private sector corruption has equally debilitating effects on economic activity. By Léonce Ndikumana Britain is the heart and soul of tax evasion While lecturing developing-country leaders about the 'cancer' of corruption, David Cameron has resisted all attempts to regulate Britain's financial sector and fought to maintain the impunity of the City of London and its web of tax havens. By Dan Glazebrook Just how corrupt is the UK? Even though 'brown envelopes' are less ubiquitous in Britain than they are in places like Afghanistan and Nigeria, there can be no doubt that the country is seriously corrupt. By Ian Fraser Panama, secrecy and tax havens To tackle the corruption at the heart of the global financial system, tax havens need to be shut down, not reformed. By Jomo Kwame Sundaram ECOLOGY Bayer and Monsanto: A marriage made in hell The two multinationals that teamed up during the Vietnam War to poison millions of people with the Agent Orange herbicide - US-based Monsanto and Germany's Bayer AG - are looking to become one. By Martha Rosenberg and Ronnie Cummins	ECONOMICS Clueless about the future The failure of the G20 to come up with an action plan on the global economy could lead to countries adopting beggar-thy-neighbour policies. By C P Chandrasekhar Africa's ticking time-bomb: $35 billion worth of Eurobond debt The move in recent years by African countries to finance their developmental needs by raising funds in the capital markets (in the form of Eurobonds) is fraught with great risk. By Trevor Hambayi WORLD AFFAIRS 'The coup plotters have made their intentions clear' The measures announced or already taken by those who ousted President Dilma Rousseff from power are a tragedy for the life and future of the Brazilian people. By Joao Pedro Stedile The economics of the Duterte administration The economic agenda unveiled by Philippine president-elect Rodrigo Duterte’s transition team reveals that there will be no breakaway from the neoliberal policies pursued by previous administrations. By Sonny Africa HUMAN RIGHTS Ex-dictator, others sentenced in Argentina for 'Operation Condor' crimes The conviction in May by an Argentine court of 14 military officers for crimes against humanity was a major step forward in bringing to justice all those involved in the 1970s 'Operation Condor'. By Emile Schepers Times of violence and resistance for Latin American journalists Journalists in Latin America have been facing growing state repression and violence in recent years. By Daniela Pastrana WOMEN Women demand support for Burma's working mothers Parliamentarians and civil society activists in Burma are calling for more concrete social welfare policies to help mothers in the workplace. By Yen Snaing POETRY Cemetery in Pernambuco (Our Lady of Light) This poem by distinguished Brazilian modernist poet Joao Cabral de Melo Neto (1920-1999) alludes to the fragility of life and utter destitution of its hapless inhabitants. By Joao Cabral de Melo Neto For subscription and enquiries: THIRD WORLD NETWORK 131 Jalan Macalister, 10400 Penang, Malaysia. Tel: 60-4-2266728/2266159; Fax: 60-4-2264505; Email: twn@twnetwork.org Third World Resurgence Page Third World Resurgence Page
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