Loading ...Related post, I wrote this on 4/21/08:
Ecuador revokes 80% of mining concessions
“The country’s government, headed by President Rafael Correa, says it has taken the dramatic action to secure greater control of Ecuador’s natural resources and increase the amount of profit the mining sector contributes to the state.”
“Around 40 international mining companies operate in the country, contributing millions of dollars in investment to the mining economy.”
Comment:
To me its another sign that Globalization, (the Titanic) is failing. It’s turning into, all hands abandon ship, and every man (country) for himself.
Lets face it. Businessmen used to get away with owning slaves. Woman at one time were not allowed to vote or drive a car.
To me it’s the same thing with global minded or global focused business people. They may be losing their ability to “get away” with things, that they used to get away with.
When global businessmen justify or brag, that investing in a foreign country, will benefit the locals, in reality, they are investing to profit, FAR more than the locals will. The ability of throwing them a bone is waning.
Unfortunately, for global players, the foreign country’s locals are learning, like slaves, woman and minorities, that they want more, and don’t want to be taken advantage of anymore.