"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "


Chinese premier Wen Jiabao 12th March 2009


""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."


Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Friday, July 14, 2006

Trade vs Aid US fucked over Vietnam, now it's the EC's turn.

This poster from ADbuster ... Yeah, Right On , exploiting the Third World.

Action Aid report
Half a million footwear jobs at Risk
Where is the balance between Trade and Aid ?


Read this fascinating report and make your decision about the rights and wrongs of globalisation, giving people jobs rather than handouts.

Quote
" ....in Vietnam, low labour cost is an advantage for all enterprises in general and footwear enterprises in particular. To work in footwear enterprises requires only minimum education and salary ranges from just VND500,000 to VND800,000 per month (approximately 25 to 40 Euros).

Yet that figure is not a result of exploitation. In 2003, the average per capita income in Vietnam was US$482 per year (372 euro), or US$40.25 per month (31 Euros) and this is considered in line with common income levels."
...

On February 23, 2006, the EC announced the time schedule for the EC imposed provisional duties on footwear with leather uppers originating in Vietnam. According to that, on April 7, 2006,the duties were 4.2%; 8.4% from June 2, 2006; 12.6% from July 17, 2006; and fi nally 16.8% fromSeptember, 2006. After September 2006, EC will make a fi nal decision on the case. If Vietnam is offi cially considered to have dumped products on the EU market, an official anti-dumping duty will be applied."

Camel, Marlboro, Nike, Rockport,Timberland, whomsoever, at cost and inconvenience will move their production to another third world country. Cui bono ?

Don't ask me, I just write this stuff.

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