Big Business, Poor Peoples: How Transnational Corporations Damage the Global Poor

This new and updated edition of Big Business, Poor Peoples exposes how many of the natural resources of developing countries are being ceded to transnational corporations answerable to no one but their shareholders. The author argues that transnational corporations have used their money, size and power to influence international negotiations and that they have taken full advantage of the move towards privatization to influence the policies of governments. Sovereignty, he concludes, is passing into corporate hands and the poor are paying the price. But people are fighting back. Citizens, workers, communities, are exposing the corporations and looking for alternatives. Zed Books Preface to the Second Edition 8 Preface 9 Effects 11 Acknowledgements 16 Introduction: the Corporate Spread 18 Foreign direct investment 19 The top 20 TNCs, ranked by market value 20 Why TNCs are different 22 The poor 23 Size 25 Gain or loss? 26 Physical environment 27 Employment 27 Dual economies 29 Child labour 30 Transfer pricing 31 Services 32 Conclusion 34 1 | Why Poor Countries ‘Want’ the Corporations 35 Globalization 36 Privatization 38 External debt 40 The aid connection 41 Conclusion 43 2 | The Agri-Corporations: from Production to Trade 44 Seeds 45 Patents 46 Genetic modification 49 Terminator 52 Biopiracy 52 Agrofuels (biofuels) 54 Pesticides 56 Trade 60 Land 62 Conclusion 63 3 | Agri-Commodities Take Their Toll 65 Tobacco 65 Baby foods 71 Bananas 74 Soft drinks: Coca-Cola 76 Fruit, vegetables and flowers 80 Cotton 83 Palm oil: Indonesia 83 Conclusion 85 4 | Health: the Poor Take the Corporate Pill 86 The ten most profitable pharmaceutical corporations, 2006 87 HIV/AIDS and TNCs 89 Promotion and information 91 Antibiotics, vitamin pills and stimulants 91 Generic drugs 93 Donations 95 Withdrawn products 96 Discrediting critics 97 Climate change 98 Conclusion 99 5 | Water: the Corporate Tap 100 Largest companies 101 Bolivia 102 Tanzania 103 Ghana 104 Uruguay 105 Bottled water: Brazil 106 GATS 107 Conclusion 108 6 | Tourism: the Great Illusion 111 Three branches 113 Links 116 Culture 118 Environmental damage 119 Alternative tourism 121 Regulation 123 Conclusion 124 7 | Extracting Logs and Fish 126 Forests 126 Fisheries 135 8 | Mining the Poor 143 Culture 144 World’s largest mining companies 146 The companies 146 Controversial Asian mines 148 The Philippines 151 Africa 153 Latin America 155 Gold 157 Effects on women 158 Conclusion: responsible mining 159 9 | Manufactured Goods: Poverty amid the Glitz 161 Clothes 162 Footwear 166 Carpets: child labour 167 Toys 168 Export processing zones 170 Conclusion: codes of conduct 173 10 | Energy: No Force for the Poor 175 Damming 175 Dams, aid funds and TNCs 176 Oil and gas 179 World Bank funding 186 Conclusion 188 11 | The Corporate Persuaders 189 Influencing the UN 190 The taming of UNCTAD 193 Bribes 194 Public relations 195 Influence on the WTO 198 Fair trade 200 Corporate social responsibility 202 Conclusion 203 12 | Tackling the Power: Regulation, Bypass, Action 204 Regulation 204 Corporate bypass 210 Farmer and shareholder action 215 Conclusion 218 Conclusion 220 Under pressure 221 Alternatives 222 Notes 224 Prefaces 224 Introduction 224 Chapter 1 226 Chapter 2 227 Chapter 3 229 Chapter 4 231 Chapter 5 233 Chapter 6 234 Chapter 7 236 Chapter 8 239 Chapter 9 241 Chapter 10 243 Chapter 11 244 Chapter 12 246 Conclusion 248 Index 249 ISBN-13:,9781848130333 Transnational corporations are one of the most important actors in the global economy, occupying a more powerful position than ever before. In their persistent battle to increase profits, they have increasingly turned to the developing world, a world that holds many attractions for them. But what is their impact on the poor?Now in its second edition, Big Business, Poor Peoples finds that these corporations are damaging the lives of millions of poor people in developing countries. Looking at every sector where transnational corporations are involved, this vital book is packed with detail on how the poor are affected. The book exposes how developing countries'natural resources are being ceded to TNCs and how governments are unwilling or unable to control them. The author argues that TNCs, answerable to no one but their shareholders, have used their money, size and power to influence international negotiations and taken full advantage of the move towards privatization to influence government policies; sovereignty is passing into corporate hands, and the poor are paying the price. But people are fighting back: citizens, workers, and communities are exposing the corporations and looking for alternatives.The first edition of this path-breaking book put the issue of transnational corporations and the poor firmly on the agenda. This second edition contains significant new and updated material and is an essential read for anyone who wants to know more about the effects of corporate power on the poor. "Transnational corporations are one of the most important actors in the global economy, occupying a more powerful position than ever before. In their persistent battle to maximize profits, they have increasingly turned to the developing world, a world that holds many attractions for them. But what is their impact on the poor?" "Now in its second edition, Big Business, Poor Peoples finds that these corporations are damaging the lives of millions of poor people in developing countries. Looking at every sector where transnational corporations are involved, this vital book is packed with detail on how the poor are affected. The book exposes how developing countries' natural resources are being ceded to TNCs and how governments are unwilling or unable to control them. The author argues that TNCs, answerable to no one but their shareholders, have used their money, size and power to influence international negotiations and taken full advantage of the move towards privatizat ion to influence government policies. But people are fighting back : citizens, workers, and communities are exposing the corporations and looking for alternat ives." "The first edition of this path-breaking book put the issue of transnational corporations and the poor firmly on the agenda. This second edition contains significant new and updated material and is an essential read for anyone who wants to know more about the effects of corporate power on the poor."--BOOK JACKET.