ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Global Economic Debacle and Corporate Power

Frederick F Clairmonte John Cavanagh Four inter-related trends, it is argued in this paper, will be paramount in determining the global thrust of the largest of the transnational corporations in the remaining years of this decade. These are (i) stagnation of inter- national trade; (ii) stagnation or even a further plunge in primary commodity prices; (iii) accelerating shifts from productive investment to speculation fed by an avalanche .of debt; and (iv) intensified economic wars.

Third World Debt-The Approaching Holocaust

Third World Debt The Approaching Holocaust Frederick F Clairmonte John Cavanagh It is impossible that the outstanding principal of Third World debt will ever be repaid. Simply deferring interest payments and principal to the transnational banking circuit and seeking, like an obsequious mendicant, rescheduling agreements will perhaps mitigate the bleeding and the pain; it can by no means stop the haemorrhage. Nor is it desirable that the debt should be repaid. Debt repudiation stands out as the only ethically feasible and rational solution for the Third World.

TRAINSNATIONALS- Destruction of the Sugar Industry

ment in Bihar in the politically turbulent sixties. The Brahmarshi Sena, another identic fiable caste force drawing support from the landed Bhumihar Babhans, was set up as the 'youth wing' of the Brahmarshi Samaj. It was organised by an MLA who had the distinction of being a National Security Act detenue and a 'social servant' to boot.

NICARAGUA-Making the Economy Scream

November 5-12, 1983 The foregoing brief review of the different sectors of the rayon industry leaves little room for doubt that the unfair competition offered by massive imports at almost throw-away prices, much below cost of production, has resulted in large under utilisation of domestic capacities, accumulation of inventories and financial losses. The policy of liberal imports under OGL, aimed at increasing exports through improving raw material availabilty to the weaving industry, has done incalculable harm without helping in any way NICARAGUA the cause of exports. Exports of viscose filament yarn fabrics have, in fact, showed a declining trend over the past three years. If the government wishes well of the rayon industry and wants it to play its legitimate role in meeting the textile industry's expanding fibre needs, the policy in regard to imports as well as fiscal levies will have to be suitably modified at the earliest. Liberal imports in face of large idle capacities at home accord ill with the government's increasing emphasis an exports to shore up foreign exchange reserves.


its dimensions. If the rigidities of the organisation emanating from historical factors stand in the way of further transformation of the WEC the United Nations may consider meeting the gap in some way. The energy problem of the world can no longer be viewed only in terms of the oil exporting and oil importing nations. It has now turned into a common factor highly relevant to economic development for both the developing and the developed countries. This the WEC is yet to recognise.

WORLD ECONOMY- Contracting Poverty

WORLD ECONOMY Contracting Poverty John Cavanagh Joy Hackel OVER the past fifteen years, corporations have diversified their strategies, for multinational expansion. Through what has become known as international sub-contracting, manufacturers based in developed countries contract out the mast labour intensive phases of production to lower wage developing countries. There it is primarily the Third World women's lot to perform the sewing, piecing together and other marginal forms of1 tedious assembly work. Once assembled, the goods tire re-imported under generous tariff exemptions by the multinational to be marketed in the developed country. The developing country subcontractor is either a multinational subsidary, a non-affiliated firm, an agent who further subcontracts the assembly work to sweatshops. or women who work in their homes.

THE LAW OF THE SEA-Perceptions of National Interest

THE LAW OF THE SEA Perceptions of National Interest Frederick F Clairmonte John Cavanagh ON the eve of what was billed the final session of the Law of the Sea Conference, the authors argued that it was in the long term interests of transnational corporations (TNCs) to secure a viable treaty. Thus, we predicted that the US government would find accommodation with the treaty by forcing through certain last minute revisions. Judged by the April 1982 US refusal to sign, it would appear that our forecasts were off the mark. How is the gap between prediction and reality to be explained?

LAW OF THE SEA- Changing Scenarios

surface India's political and economic life. The fear has been that by recognising the Nepalese presence, India would bolster the legitimacy of the kingdom of Nepal, or play into the hands of a 'Greater Nepal'. A contrary view might however suggest somewhat different implications. By recognising and legitimising the Nepalese presence in India, the kingdom of Nepal would be destabilised and Nepalese brought further into the Indian system, with a means to voice their grievances. By following such a course India would be returning to British imperial policy: but such a prospect is remote at present.


Strategies for Equity Ifzal Ali B M Desai R Ramakrishna V S Vyas This paper attempts to focus on the prospects and problems of Indian agriculture by the turn of the century. Its emphasis is mainly on issues relating to distribution, and the increasing of the purchasing power of the poorest segments of the population.

The Law of the Sea- Corporate Substance and Legal Shadows

The Law of the Sea Corporate Substance and Legal Shadows Frederick Clairmonte John Cavanagh The United Nations Law of the Sea Conference has now agreed upon a Treaty which specifies that the ocean resources beyond national boundaries be considered "the common heritage of mankind'. The Treaty has already been attacked by transnational corporate interests

Anatomy of Multi - Commodity Trading Conglomerates-A Case Study

Anatomy of Multi Commodity Trading Conglomerates A Case Study Frederick Clairmonte John Cavanagh The world cotton economy, employing tens of millions in over 60 countries, is dominated by a handful of giant multi-commodity traders whose activities define the contours of globally traded cotton and its pricing policies.

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