The ultimate downfall of the corporate globalizers may be that they know no limits.
Not satisfied with imposing pull-down agreements on the trade in goods, Big Business is looking to do the same thing for services through the General Agreement on Trade in Services (GATS). Services includes such economic sectors as finance (banking, insurance, pensions), healthcare, telecommunications, construction, travel and tourism, the professions, education and training, express delivery, energy and environmental services. GATS is part of the World Trade Organization (WTO), and now undergoing renegotiation to become more encompassing.
The Wall Street banks and the other service multinationals first want to ensure that countries do not discriminate against foreign service providers. The United States does not let foreign airlines service domestic routes, for example. Such restrictions to protect domestic firms are prevalent in developing countries, and an impediment to the expansionary dreams of the rich country multinationals.
But the multinationals want much more than non-discrimination. Their real goal is to use the language of non-discrimination (they talk about "market access" and "national treatment" for foreign companies) in order to force deregulation and privatization.
Not satisfied with imposing pull-down agreements on the trade in goods, Big Business is looking to do the same thing for services through the General Agreement on Trade in Services (GATS). Services includes such economic sectors as finance (banking, insurance, pensions), healthcare, telecommunications, construction, travel and tourism, the professions, education and training, express delivery, energy and environmental services. GATS is part of the World Trade Organization (WTO), and now undergoing renegotiation to become more encompassing.
The Wall Street banks and the other service multinationals first want to ensure that countries do not discriminate against foreign service providers. The United States does not let foreign airlines service domestic routes, for example. Such restrictions to protect domestic firms are prevalent in developing countries, and an impediment to the expansionary dreams of the rich country multinationals.
But the multinationals want much more than non-discrimination. Their real goal is to use the language of non-discrimination (they talk about "market access" and "national treatment" for foreign companies) in order to force deregulation and privatization.