• Sun
  • Jul 27, 2014
  • Updated: 12:46am

US dominates

PUBLISHED : Saturday, 25 July, 1998, 12:00am
UPDATED : Saturday, 25 July, 1998, 12:00am

There has been controversy recently concerning Pauline Hanson's call for protection of Australian companies and resources from the vultures presently circling over Asia.

While I have misgivings about some of her other policies, I see nothing wrong with this particular initiative.

The rules of the 'globalisation model' are skewed greatly in favour of Western corporations, primarily American, at the expense of everyone else's.

Would the US have sat passively if Microsoft had been an Asian 'global monopoly', or allowed the merger of Boeing and McDonnell Douglas if they had been Australian mega-corporations? If the global village was not 'goal-congruent' with US business interests, it would no longer be on the agenda.

The depreciation of Asian currencies against the greenback, overshooting thanks to the activities of the Wall Street hedge funds, has left a basket of treasures ripe for plunder.

I cannot help but wonder what these corporations will do when there is a McDonald's on every street corner, a Planet Hollywood in every city and Merrill Lynch is the only investment bank.

Is this to be their great cultural legacy? NAME AND ADDRESS SUPPLIED


For unlimited access to:

SCMP.com SCMP Tablet Edition SCMP Mobile Edition 10-year news archive




SCMP.com Account