Archive for War economies

links for 2009-03-19


Don’t break my China?

china-oil.jpgA couple of weeks ago, the pension fund of the MEP (Members of European Parliament) divested from Petrochina, China’s state-run oil firm and Sudan’s largest oil partner. The move followed after one of Europe’s largest pension fund PGGM divested. PGGM made the decision only after extensive efforts to have Petrochina engaging over Sudan.

Other large pension funds which have divested from companies because of Darfur include Berkshire Hathaway (Warren Buffett – USA), Fidelity Investments (USA) and CalPers (USA). However, Petrochina still is a participant in the UN’s Global Compact.

On another note, I wonder if it’s just another case of Fausts “Two souls, alas, are swelling in my breast”, as the concept of the “Harmonious Society” was enshrined as one of the party’s mainstream ideologies at the 17th National Congress (2007):

Guided by the scientific outlook of development, the whole country, from the top authorities on down, is on board for building a harmonious society.

(Please read the entire article in the Voice-of-China’s “China’s Daily” - and let us know if you think that there’s some condescending note buried in there).

Maybe it’s the shiny happy people concept that instigated the membership - only that the top-dogs rather cash in as long as they can. Sounds familiar? Think Enron and Co., just on a slightly larger scale and with a few more casualty. Just a few.