Banking on the black economy

Article Abstract:

Tax havens are coming up all over the world because small countries without natural resources find foreign capital an effective base for their economy. Investors who are attempting to avoid taxes are willing to use legal and illegal chances to stash their wealth. The US, Belgium, Germany, France and the UK have passed laws to prevent tax frauds but these regulations have driven investment to foreign countries. So, to match the conditions available in tax havens, places such as New York and San Francisco have had to offer tax-reduction options to off-shore organizations.

International aspects, Tax havens, Money laundering, Black market

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London's crossroads

Article Abstract:

London's worsening social and environmental problems are jeopardizing the city's quality of life and cosmopolitan status. Problems include rising homelessness, inefficient transportation, overpriced housing and lack of investment. London's air pollution is likely to get worse after a huge new garbage incinerator begins operating in 1994. Reform of city government is inevitable given these conditions. Splitting power between central and local levels is the best plan since it would allow the boroughs to keep a measure of their present authority.

Social aspects, United Kingdom, London, England, Municipal government

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Brave new world order

Article Abstract:

The WTO seeks to abolish tariff barriers and open up new markets for multinational companies. Growing regionalism, however, threatens the success of WTO. Regionalism is clearly evident in the growth of powerful trading blocs that seek to protect their industries from multinationals. Critics view the WTO as an instrument of US unilateralism, authorized to impose trade sanctions should member countries fail to comply with certain rules.

Planning, International trade, International business enterprises, Multinational corporations, International economic relations, World Trade Organization

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