Making profit the world's highest law. (the Organization for Economic Cooperation and Development's 1998 draft of the Multilateral Agreement on Investment) From: National Catholic Reporter | Date: October 9, 1998| Author: Taglieri, Joe | COPYRIGHT 1998 National Catholic Reporter. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

The Organization for Economic Cooperation and Development has been working to form a treaty known as the Multilateral Agreement on Investment. The treaty, in its 1998 draft form, would take authority away from government regulation in favor of foreign investment.

A new global treaty would virtually eliminate governments' ability to regulate banking, currency speculation and transnational corporate activity, according to critics who claim to have slowed its progress.

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