Re: FWD/MEDIA: High-tech Firms Seek To End Cap On Foreign Workers

Geoff Smith (
Tue, 24 Feb 1998 16:03:38 -0800

Alexander's e-mail just reminded me of something I heard about the other
day: MAI (or Multilateral Agreement on Investment) From what I've read, it
seems this agreement will limit OECD countries' ability to legislate
barriers to movement of capital or workers. This "global constitution"
will, IMO, create a much freer global marketplace, and will disallow
governments to pursue their political agendas by restricting the flow of
capital. Here are some of the goodies found in the MAI:

1. Countries will be required to treat foreign investors at least as well
as domestic ones(regardless of the local economics situation)
2. Governments will not be allowed to create or enforce laws that require
investors to invest locally, or hire locally.
3. Restriction on the movement of capital between countries will be banned.
4. Corporations will have the right to sue countries if they violate this
agreement (ie. countries get treeted like private legal entities)

Apparently, the details of this treaty have been hammered out for the last
3 years in secret meetings in Paris.

Has anyone else heard of MAI? Any comments?