Word: laboral
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Dates: during 2000-2009
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...more, much more, where that came from. To date, China's economic engagement with the outside world has come largely via exports (it exported $969 billion worth of goods last year) and by attracting huge amounts of foreign direct investment, mostly from manufacturers taking advantage of its low labor costs. That is changing rapidly. A month ago, Beijing's recently formed State Investment Co. bought a $3 billion stake in the Blackstone Group just before the U.S. private-equity giant went public (an investment that so far is more than $300 million under water). This and the CDB stake...
...usual, pointed challenges arose. One questioner noted that the construction boom depended largely on cheap labor from the Indian subcontinent, labor that will grow more expensive as these workers are integrated into society down the road. Another questioner expressed skepticism about occupancy rates. This kind of push and pull is what makes markets, of course. The difference is that for hedge funds, trades gone wrong can be disastrous...
...Still, "if any of the four witnesses Judge Karon Bowdre excluded would have been allowed to testify, the jury would have had the missing link," insists Terry Collingsworth, of the D.C-based International Labor Rights Fund, which helped bring the case and several other similar cases against other major companies...
...More recently, the law has been deployed by labor groups and NGOs trying to punish and modify the behavior of U.S. companies abroad. More than three dozen cases targeting companies have followed the first case, filed in 1993, against Texaco (now Chevron). That class-action suit, which alleged that a subsidiary of Texaco had improperly disposed of waste while extracting oil from the Ecuadorian Amazon, was eventually referred to Ecuadorian courts. The majority of other suits have been dismissed on jurisdictional grounds or are still pending, though at least one has been settled out of court...
...counter to the traditional deference paid to local courts. But this presumes a reasonably functioning local judiciary, and there is scant evidence of that in Colombia. Since 1986 2,515 trade unionists have been murdered there - about 120 a year, making it the world's most lethal country for labor - but there have been only 37 successful prosecutions, leaving a staggering "impunity rate" of 98%, according to Maria McFarland, Human Rights Watch's Colombia expert. This past March, Chiquita Brands International, Inc., pled guilty to one count of "engaging in transactions" with a terrorist organization for paying $1.7 million...