The degree of corruption displayed by the Trump administration is on a scale that is hard to keep track of, and hits so close to home that we often forget about the wider global implications of having an incompetent, at best, and more likely a traitorous “president”. As many of us have realized since Day 1, the antics of the Distractor-in-Chief have served as excellent cover for his real agenda: covertly implementing pro-corporate policies.
In this vein, another international issue that flew under the radar recently was the withdrawal of the US last month from the Extractive Industries Transparency Initiative (EITI) as an implementing country. Through President Barack Obama, the US joined the “Anti-Corruption Pact,” as it has been called, in 2011.
Now, Trump’s hasty decision to pull out sends an unmistakable signal: corruption is tolerated if it helps line corporate pockets. According to Trump and lots of Republicans, anything regulating business is bad, even transparency. But the reality is that removing the US from EITI benefits no one.
Launched in 2002 by then UK Prime Minister Tony Blair, EITI helps address the systemic corruption in countries whose GDP relies primarily on resource extraction. More than 52 countries across the world have joined the pact, which imposes international standards on business transparency so as to hinder illicit payments such as bribes or other forms of corruption. The basic idea of the Anti-Corruption Pact is simple: if extractive firms and corporations are forced to publicly disclose their contributions to government, then citizens can hold them accountable. The agreement is designed to help countries avoid the perils of the so-called “resource curse” often faced by undeveloped, resource-rich nations.
It’s little surprise that the countries that have benefited from the EITI regulations are among the poorest and most corrupt in the world, for example, Ghana and Azerbaijan.
The Chairman of the initiative, Fredrik Reinfeldt, responded to…