Zelensky selling Ukraine to Wall Street & corporations
In the Ukrainian president's words, Ukraine is effectively "open for business," enabling multinational corporations to flock into the country and do what they do best: exploit Ukrainian resources, and pay low wages.
The great selloff of Ukraine to the piercing shackles of corporations is an unprecedented move led by none other than Ukrainian President Volodymyr Zelensky.
In an article written in Multipolarista by Al Mayadeen contributor Ben Norton, details are provided on the reasons and probable consequences behind this shocking decision.
Working with USAID, the Ukrainian Ministry of Economy has opened its doors to investors, with Ukrainian President Volodymyr Zelensky announcing the opening of the New York Stock Exchange on September 6 by a video stream.
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In Zelensky's words, Ukraine is effectively "open for business," enabling multinational corporations to flock into the country and do what they do best: exploit Ukrainian resources, and pay low wages.
The neoliberal selloff program, Advantage Ukraine, will offer Wall Street “a chance for you to invest now in projects worth of hundreds of billions of dollars," according to Zelensky in his speech.
The Ukrainian government's press release was published by the Ukrainian government in Business Wire. The text swanked about a "$400+ [billion] in investment options featured on AdvantageUkraine.com span public-private partnerships, privatization and private ventures. A USAID-supported project team of investment bankers and researchers appointed by Ukraine’s Ministry of Economy will work with businesses interested in investing."
It is worth noting that USAID actively tampers with social fabric to increasingly liberalize economies to the benefit of Western corporations.
Lynn Martin, the president of the NYSE Group, said: "As the largest exchange globally, we stand for freedom, investor protection and unfettered access to capital. We are pleased to welcome President Zelenskyy virtually to the NYSE bell podium, a symbol of the freedom and opportunity our U.S. capital markets have enabled around the globe. We are honored the President has chosen the NYSE to mark the kickoff of Advantage Ukraine and engage with the world’s business community."
The press release also mentioned notable personalities, such as the executives of Google, Alphabet, and Microsoft, who "salivated over the economic possibilities offered by Ukraine."
British public relations firm, WPP, has been assigned to run the marketing strategy and operation for Advantage Ukraine, while Zelensky, in collaboration with NYSE, put forward and editorial in the Wall Street Journal to push capitalists to "invest in the Future of Ukraine."
Zelensky wrote, “I committed my administration to creating a favorable environment for investment that would make Ukraine the greatest growth opportunity in Europe since the end of World War II."
He continued, "Ukraine is pursuing investment guarantees from both the Group of Seven and the European Union, reforming the country’s tax system, and establishing a strong new legal framework. Our country has already adopted rules and laws to allow companies to build transparent corporate structures, attract foreign investment more easily, and use additional mechanisms to protect intangible assets."
Multipolarista previously reported on a meeting that took place in Switzerland between Western governments in July, noting that the entities proposed jarring neoliberal economic policies to impose on Ukraine.
Michael Hudson, an economist interviewed by Multipolarista, compared the economic policies to Chilean dictator Augusto Pinochet's economic policies after the CIA-backed coup of 1973. He noted that Zelensky was "welcomed on the stock exchange for abolishing labor’s rights.
"You could not have a more black-and-white example” of class war, he said.
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“Somebody’s loss is turned into somebody else’s game. And that’s what happens in a class war. It’s a zero-sum game. There is no attempt at all to raise living standards.”
“Ukraine is the poorest country in Europe – but Zelensky said it’s not poor enough. He said, you think this is something, wait until our new law takes effect. That’ll really show you what it means to be the poorest country in Europe.”
“But it’ll also be the richest country in Europe for the 1%,” Hudson concluded.
Read next: Ukraine expects GDP to fall by 40% in 2022