Panama wrong choice for Obama's first trade deal
Panama's "comparative advantage" is tax evasion. The more money multinational companies shift to hokey Panamanian subsidiaries, the fewer taxes they owe in the U.S. And secrecy in the Panamanian banking sector secures foreign investment of another sort. The U.S. State Department and the Drug Enforcement Agency have identified Panama's financial sector as a primary repository and conduit for Colombian and Mexican narco-trafficking cartels. Full Story »
Posted by Dwight Rousu
