“This system needs to be shut down completely. It's a massive attack on democracy and it's a massive mechanism through which the richest corporations in the world are rinsing some of the poorest countries in the world.”
Honduras is being sued for a third of its GDP by an American company—why?
Because the developing nation changed its mind about Prospera building a charter city on its territory. This case, which could bankrupt Honduras, will be judged in a back room of the World Bank by three people, none of whom are obliged to even have a law degree.
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Matt Kennard, investigative journalist, co-founder of Declassified UK and author of Silent Coup: How Corporations Overthrew Democracy, explains the origin of the investor-state dispute settlement, and how this shadowy legal system has infiltrated politics, skews policies, and traps developing nations into exploitative relationships with some of the world’s biggest corporations, definitively undermining the democratic process.