4 ms·

It seems to be a bad deal to get a few thousand jobs at the cost of severe damage to the environment and public health, while all the money is shifted out of th

by kpil 9y ago

It seems to be a bad deal to get a few thousand jobs at the cost of severe damage to the environment and public health, while all the money is shifted out of the country.

jacquesm 9y ago
Agreed. But given the level of social security in El Salvador it will definitely cause some problems. The problem is the latter: all the money being removed from their economy (as well as the resources, the value of which is only going up). This goes for almost all resource rich countries South of the equator with the exception of Australia and New-Zealand. Colonialism is far from over, it just wears a corporate suit these days.
- astronautjones 9y ago
  The bill is finally coming in the mail for 90s globalism, a dilettante movement with no regard for the future and an eye on stock market profits, the question is who is going to pay for it [1]. It's going to happen again when people realize that making Snapchat one of the most valuable stocks will torpedo the whole market and will make Pets.com look like someone spilled their drink. [1](I am American and can clearly see that we are the ones who should shoulder this blame, and under Trump the lower half will in one way or another)
ceronman 9y ago
A few thousands jobs at very poor and dangerous conditions. While the owners for the foreign companies that exploit the mines get 99% of the profits. Really bad deal.
- throwanem 9y ago
  The question, though, is: will even a bad deal prove to have been preferable to no deal?
  - rhizome 9y ago
    Great question. Luckily we have examples by which to judge, e.g.: https://www.theguardian.com/world/2009/mar/08/usa-mining-libby-montana https://www.theguardian.com/world/2009/mar/08/usa-mining-lib...
    - scrollaway 9y ago
      > On Friday, May 8, 2009, W.R. Grace & Co. was acquitted of charges that it knowingly harmed the people of Libby, Montana. It was also acquitted of subsequently participating in any cover-up. Christ, there really is no justice with these corps.

by kpil 9y ago

It seems to be a bad deal to get a few thousand jobs at the cost of severe damage to the environment and public health, while all the money is shifted out of the country.

jacquesm 9y ago

Agreed. But given the level of social security in El Salvador it will definitely cause some problems. The problem is the latter: all the money being removed from their economy (as well as the resources, the value of which is only going up). This goes for almost all resource rich countries South of the equator with the exception of Australia and New-Zealand. Colonialism is far from over, it just wears a corporate suit these days.

astronautjones 9y ago
The bill is finally coming in the mail for 90s globalism, a dilettante movement with no regard for the future and an eye on stock market profits, the question is who is going to pay for it [1]. It's going to happen again when people realize that making Snapchat one of the most valuable stocks will torpedo the whole market and will make Pets.com look like someone spilled their drink. [1](I am American and can clearly see that we are the ones who should shoulder this blame, and under Trump the lower half will in one way or another)

ceronman 9y ago

A few thousands jobs at very poor and dangerous conditions. While the owners for the foreign companies that exploit the mines get 99% of the profits. Really bad deal.

throwanem 9y ago
The question, though, is: will even a bad deal prove to have been preferable to no deal?
- rhizome 9y ago
  Great question. Luckily we have examples by which to judge, e.g.: https://www.theguardian.com/world/2009/mar/08/usa-mining-libby-montana https://www.theguardian.com/world/2009/mar/08/usa-mining-lib...
  - scrollaway 9y ago
    > On Friday, May 8, 2009, W.R. Grace & Co. was acquitted of charges that it knowingly harmed the people of Libby, Montana. It was also acquitted of subsequently participating in any cover-up. Christ, there really is no justice with these corps.