From London daily The Morning Star:
Selling off Iraq
(Monday 29 May 2006)
The Bush Agenda: Invading the World One Economy at a Time by Antonia Juhasz
JOHN MOORE learns more of Washington’s wholesale sell-off of Iraq in a new study of the events that took place post-invasion.
WHAT was the motivation behind the Bush administration’s unprovoked invasion of Iraq?
Antonia Juhasz describes in convincing detail the economic invasion of Iraq – a case study in corporate-driven globalisation strategy.
A series of orders issued by Paul Bremer, the president’s envoy in Iraq and administrator of the coalition provisional authority, had full legal force over all Iraqis.
Designed to “liberalise” the economy, the orders included privatisation of all Iraq’s 192 government-owned industries, including water, electricity, schools and hospitals.
They allowed complete foreign ownership of all Iraqi businesses, including the banking sector, with unrestricted repatriation of profits.
Foreign investors have been given 40-year leases on Iraqi real estate, with unlimited renewal options and with any dispute to be taken to international courts.
All tariffs and other charges on imports are ended, as are farming subsidies, leaving the market open to a flood of cheap foreign goods, such as US wheat imports.
The vice-chairman of the US rice council told a house committee that the liberation of Iraq freed the Iraqi people and “also provided hope for the US rice industry.”
The WTO, the World Bank and the IMF could not have been better pleased.
Halliburton in Iraq: here.