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> Don't forget that resorts et al typically belong to international capital. What does the local economy get out of it? Same goes for any natural resource. Oil
by hammock 4mo ago
> Don't forget that resorts et al typically belong to international capital. What does the local economy get out of it?
Same goes for any natural resource. Oil, precious metals, water, etc. Globalization feeds this behavior, but that’s a conversation people don’t usually want to have
- Avicebron 4mo ago[flagged]
- dzhiurgis 4mo agoWhats a fair share then? Should investors just return all profits to host country out of their kindness of their hearts?
- 6P58r3MXJSLi 4mo ago> Whats a fair share then? I thought it was implied in the question "What does the local economy get out of it?" A fair share is when the local economy gets out of it what the local economy needs/wants.
- thrance 4mo ago0%? Foreign corporations should probably not be able to bribe their ways into getting unlimited concessions: that's imperialism.
- sofixa 4mo ago> Same goes for any natural resource No, in most cases the contract stipulates profit/revenue sharing. E.g. Orano's uranium mines in Niger had 50% of all revenues going to the Nigerien government. In other cases it's much lower (e.g. Dundee Precious Metals in Bulgaria pay 10% of profits to the state).
- hammock 4mo agoImagine thinking you can build an all inclusive resort or other 8fig+ development in a foreign backwater and NOT kick back revenues to the local mafia. Couldn’t be me. Good luck with that Even Zuckerberg paid in an extra 10% ($20 million)over and above his land costs to fund affordable housing, conservation and a jobs program in Kauai to get the deal done