An excellent analysis: “Profit shifting by multinational corporations doesn’t distort Ireland’s balance of payments; it constitutes Ireland’s balance of payments.”
Read here
Brad Setser: Tax Avoidance and the Irish Balance of Payments
Finance
Reuters: World Bank court orders Pakistan pay $5.8 billion damages to Tethyan Copper
This is the result of globlaisation, where companies that made a small investment can receive extra billions in compensation decided by a court run in the interest of international corporations. Read here
Economics
DeStatis: Inflation in Germany increases again in January
Consumer price index, January 2023: +8.7% on the same month a year earlier (provisional) +1.0% on the previous month (provisional) Read Here
Geopolitics
Chris Hedges – Israel’s War on Hospitals
“Israel is not attacking hospitals in Gaza because they are “Hamas command centers.” Israel is systematically and deliberately destroying Gaza’s medical infrastructure as part of a scorched earth campaign to make Gaza uninhabitable and escalate […]
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