Allende's words are more true today than ever.
From Allende's speech to the United Nations December 1972:
....THE PHENOMENON OF THE TRANSNATIONAL CORPORATIONS
At the third UNCTAD I was able to discuss the phenomenon of the
transnational corporations. I mentioned the great growth in their
economic power, political influence and corrupting action. That is the
reason for the alarm with which world opinion should react in the face
of a reality of this kind. The power of these corporations is so great
that it goes beyond all borders. The foreign investments of US companies
alone reached US$ 32,000 million. Between 1950 and 1970 they grew at a
rate of 10 per cent a year, while that nation's exports only increased
by 5 per cent. They make huge profits and drain off tremendous resources
from the developing countries.
In just one year, these firms withdrew profits from the Third World that
represented net transfers in their favour of US$ 1,743 million:
US$ 1,013 million from Latin America; US$ 280 million from Africa;
US$ 376 million from the Far East; and US$ 74 million from the Middle
East. Their influence and their radius of action are upsetting the
traditional trade practices of technological transfer among states, the
transmission of resources among nations and labour relations.
We are faced by a direct confrontation between the large transnational
corporations and the states.
The corporations are interfering in the
fundamental political, economic and military decisions of the states.
The corporations are global organizations that do not depend on any state
and whose activities are not controlled by, nor are they accountable to
any parliament or any other institution representative of the collective
interest. In short, all the world political structure is being
undermined. The dealer's don't have a country. The place where they may
be does not constitute any kind of link; the only thing they are
interested in is where they make profits. This is not something I say;
they are Jefferson's words.
The large transnational firms are prejudicial to the genuine interests
of the developing countries and their dominating and uncontrolled action
is also carried out in the industrialized countries, where they are
based. This has recently been denounced in Europe and in the United
States and resulted in a US Senate investigation. The developed nations
are just as threatened by this danger as the underdeveloped ones. It is
a phenomenon that has already given rise to the growing mobilization of
organized workers including the large trade union organizations that
exist in the world. Once again the action of the international solidarity
of workers must face a common enemy: imperialism.
...
Ours is not an isolated or a unique problem. It is the local expression
of a reality that overwhelms us, a reality that covers Latin America
and the Third World. In varying degrees of intensity, with unique
features, all the peripheral countries are threatened by something
similar.
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