Corporate Greed…. Will it ever Stop?

Corporate Greed…. Will it ever Stop?

For a layman, the term “global trade” means to do business, sell or purchase merchandize in other countries besides the home land. However, for the world’s biggest conglomerates and corporate sector giants, it has a different meaning altogether.

The World Trade Organization was not founded to bring trade to the shores of underdeveloped countries but to make the richest business entities even richer. The labour laws were twisted, trade unions were made and rules were bent to bring in cheap labour
from countries like India and China.

From one angle it looks to be a sight for the sore eyes but underneath the skin is a monster that has devoured the local economies of developed countries like the USA and Europe and under developing countries in Africa.

The shift in the concentration of labour to Far East Asia and South East Asia has hit the US economy with a jackhammer. Most of the labour in America is unemployed because factories have been shifted to cheaper places like China and India. Take example of
Flint, Michigan (home town of General Motors). Although, head offices are still in Michigan but the towns give a look of ancient ruins, thanks to all the facilities shifted to the Far East Asia.

Moreover, these rich giants introduced the intellectual rights phenomenon called the “patents” in late 19^th century. The concept of patents was brought in to secure the designs and formulas to a person’s name so that it cannot be copied and/or
counterfeited.

Apple patented its idea of scrolling incorporated in the iPhone, Pfizer secured the intellectual rights for formula of Flagyl, which is rightful to be registered to one’s name who invented it. However, the concept has evolved into monster of a thought. Currently,
cures, crops, seeds and whatnots are being patented and severe punishments are sentenced on not following the rightful procedures.

Now that these corporations have made ideas their property their next target is the freedom of speech. A new agreement is in place on which these corporations have been working since 2007. The Anti-Counterfeiting Trade Agreement (ACTA) has been formulated
to reinforce the control on infringements of intellectual properties owned by these large groups.

The USA, European Union, Japan, Morocco, Egypt, New Zealand and Australia have joined hands in this battle against counterfeiting. Where this agreement will act upon violation of intellectual rights, it will also border the freedom of speech to close confinements.

The internet content agencies are being the foremost target of these limitations. The agreement parties will take Internet Service Providers into the fold or they will be legally obliged to obey by the new laws bent to accommodate ACTA. These ISPs will be
bound to block any or such content that infringes these intellectual property rights. Moreover, if the source still publishes after the blockade, his/her personal IP will be cut off.

Of course, these actions require extensive measures therefore; the sources of these contents will be put under surveillance. This act will no doubt infringe the public and human rights of the subjects as the agreement suggests keeping a complete check on
entire internet activities of the so-called “Infringers”.

The ACTA parties are planning on putting it to table in the coming G8 summit for an official approval from the United Nations. This will force the underdeveloped countries to act upon the agreement just for the sake of a handful of corporate sector giants.

Short URL: https://www.newspakistan.pk/?p=2067

Posted by Usman Khalid on Oct 30 2011. Filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry