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FOCUS ON INDIA (FOI), Issue July 2007: Volume IV No 7 |
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Tuesday, 24 July 2007 |
Content summary:
Private finance is a public interest issue; it dwarfs both loans from International Financial Institutions and Official Development Assistance (ODA) from bilateral donors. But as private finance grows more powerful, influencing public policy to allow it to cross borders without fetters, it also becomes more complicated to grasp. Hedge funds, investment banks and commercial banks are developing diverse, complex ties with one another. Understanding the perplexing world of global finance was the topic of a conference that Focus on the Global South coorganised with several allies in Bangkok from July 15-17 (For the conference
agenda see http://www.focusweb.org/understanding-global-finance-building-international-resistance. html?Itemid=94
) Focus' background note for the conference on the 'Growing power of
Finance capital' is a useful read. A related article by Focus staffer
Shalmali Guttal shows how the World Bank, ostensibly a development
institution, has close ties with the private sector and actually
secures lucrative trade and investment deals for big business. The struggle for democracy in Pakistan received a shot in the arm with
the Pakistan Supreme Court reversing the suspension of Chief Justice
Iftikhar Choudhury on July 20. Human Rights activist Asma Jahangir and
others will speak at a public meeting at St. Xaviers College in Mumbai
on 25 July on 'democratic aspirations in Pakistan'.
After 4 days of negotiations the United States of America and India
announced that they had wrapped up the bilateral 123 agreement (the
US-India Nuclear deal). Praful Bidwai reports on why consensus on the
deal is unlikely either in the US or India.
The struggle against large scale land acquisition for big business to
set up Special Economic Zones (SEZs) is gaining strength across the
country. After a successful campaign against the Nandigram SEZ in West
Bengal, the focus is now on Maharastra. And the target is India's
biggest private sector company Reliance; well known for its ability to
influence political parties across the spectrum. Women farmers are
leading the indefinite protest against the 10000 acre Reliance SEZ.
Contents:
1. NEWS AND ANNOUNCEMENTS
1. a. Public Meeting on "Democratic Aspirations in Pakistan"
1. b. FDI in retail Meeting: 25th July, 2007
1. c. "The Arts as a Necessary Source of Consciousness": A discussion: A PEN-Prithvi Initiative: 23 July, 7pm, Prithvi Theatre
1. d. Narmada Bachao Andolan: Update and Appeal
1. e. Invitation to WSF India meeting in Mumbai on August 10-11th 2007.
2. STATEMENTS / REPORTS
2. a. Statement of Via Campesina: Mobilisations in Rostock: G8 behind fences, alternatives blossom
2. b. Women Farmers Lead Indefinite fast against Reliance Mahamumbai SEZ
2. c. Citizen's Peace Plan: Adopted by the Peace Caucus of the United States Social Forum, June 30, 2007, Atlanta Georgia
3. ARTICLES
3. a. INDIA/US: Nuke Deal - Breakthrough or Bad Bargain? By Praful Bidwai
3. b. The Growing Power of Finance Capital By Focus on the Global South
3. c. Corporate Power and Influence in the World Bank: By Shalmali Guttal
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