Free trade deals are poison. Ask El Salvador.
Oceania Gold, a New Zealand listed company, is suing the El Salvadorian government to tune of US$300 million in the International Centre for the Settlement of Investment Disputes (ICSID), a tribunal linked with the World Bank, for lost profits. El Salvador, a water-impoverished nation, refuses to grant them water rights to their main river to use and contaminate with the likes of cyanide and arsenic as part of a gold mining operation they have planned. Continue reading