the Sugar Conspiracy

Monday, September 22, 2003

For sale: One Middle Eastern country, slightly damaged

Iraq was in effect put up for sale yesterday when the American-appointed administration announced it was opening up all sectors of the economy to foreign investors in a desperate attempt to deliver much-needed reconstruction against a daily backdrop of kidnappings, looting and violent death.

In an unexpected move unveiled at the meeting in Dubai of the Group of Seven rich nations, the Iraqi Governing Council announced sweeping reforms to allow total foreign ownership without the need for prior approval.

The initiative bore all the hallmarks of Washington's ascendant neoconservative lobby, complete with tax cuts and trade tariff rollbacks. It will apply to everything from industry to health and water, although not oil.

But it is still likely to feed concerns that Iraq is being turned into a golden opportunity for profiteering by multinational corporations relying on their political connections.

100 per cent foreign ownership in all sectors except natural resources.

posted by chris at 12:41 PM
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