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Terri Willard
Joined: Jul 27, 2001
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Privatization and Foreign Aid
January 6, 2004 - 11:59 AM
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While I'm a big fan of CSR, I think we need to expand our view of what it means. It is possible for an individual company to have strong CSR policies and programmes in place and STILL have a negative impact on a country or region. This often happens through privatization of public goods in developing countries, which are often purchased by foreign companies that shift profits from the newly privatized operation out of the country (leaving aside for the moment the question of whether or not service or cost benefits to the country's citizens are actually achieved through the privatization).
For an analysis of how the rush to privatization of public goods is being massively financed by foreign aid dollars, check out George Monbiot's article in today's Guardian online - http://www.guardian.co.uk/comment/story/0,3604,1116854,00.html
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Simon Moss
Joined: May 7, 2002
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The lesser of two evils?
January 6, 2004 - 06:45 AM
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If not from FDI, where will the money come from to finance these operations?
It's a tricky issue - whether a country, in selling its assets, should attempt to keep the ownership in the country, or at least the region. Although I have some real problems with profits being funneled at locals' expense out of the country (Bhopal, India), I think it's still better that these operations continue to employ people and stimulate a local economy.
For although the profits may disappear to another country - how is that any different to earlier practices? These companies were either losing money for being run inefficiently by the state, they were having profits skimmed off the top by corrupt bureacrats and adminstrators (Iraq, Phillipines, Indonesia ...) , or, in other cases, the profits were being used by to finance military spending (central african diamonds).
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Robbie Allan
Joined: Dec 9, 2003
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Hedonism
January 8, 2004 - 04:28 AM
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Coming from New Zealand, a developed country with unusually massive debt (95% of GDP - one of the highest in the OECD), the capital account deficit (foreign ownership or external debt) is always balanced by a current account surplus (influx of money or produce).
In essence, these countries are living outside their means, that said, the foreign investment does stimulate the economy and provide employment, expertise and capital.
I think it's a 50 / 50 call, really.
~Robbie
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foliblink
Joined: Jan 6, 2004
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hello urgent
January 27, 2004 - 04:44 AM
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hello,
am fola aluko from nigeria am interested in meeting and u and to make it short i will like u to tell me more about wat u are in to maybe i may have interest in it.u can mail me at aluko21@yahoo.com .i look forward hearing from u soon.
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Jose Menacho Galiano
Joined: Jan 26, 2003
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Re: Privatization and Foreign Aid
January 27, 2004 - 05:55 AM
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Privatization in developing countries gives lot of troubles to the environmment of a beneficiary village. CSR in this areas are in lot of cases make-ups for the govermment and to the national and international public.
I watch on News lot of companies from "First World" nations whose in theory defend environmment, that in poor nations as my country do and did what they want and destroy the environmment of villages with chemistry products on rivers and in the health of farmers. In other cases with the power of money pay less dollars for buying rich agricultural lands for exploting as mines. Also they corrupted the authorities for winning some legal cases, etc.
So you can strongly see in one side the masters and in the other the servants, in one side the honest and in the other side the thiefs. So, Are these CSR are only a make-up or strategy for exploting the poors? That isn't honest! That is hypocrisy! That is the best globalization politic? The ISO 9002?
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