Finance
The shadow of the United Fruit Company still reaches across the globe today
About a hundred years ago, the Boston-based banana company, United Fruit, reigned supreme in Central America. It didn’t just own banana plantations, but also railroads and telephone lines. The company even dictated national policies and overthrew governments. For his podcast “Under the Shadow,” about US involvement in Central America, Michael Fox traveled to Guatemala, where he looked at the legacy of United Fruit and its impact on the global fruit industry today.
COP28: African nations resist fossil fuel phaseout, citing economic realities
At the COP28 climate summit in Dubai, leaders from the US and EU have backed a phasedown of fossil fuels, with some qualifications. But many African countries say they deserve to exploit their natural resources and develop just like richer countries.
‘We saw an immediate drop’: Jordan’s tourism industry is suffering amid the Israel-Hamas war
Jordan’s economy relies heavily on tourism but since Hamas’ attack on Israel in October and the ongoing war in Gaza, tourism in the country has slowed down. This is also the case in other countries in the region, including Israel itself, Lebanon and Egypt.
Microfinance was meant to help the world’s poor, but in Cambodia, it’s plunging people deeper into debt
Microfinance was hailed as a way to change the lives of hundreds of millions of people without access to credit. It worked so well that Grameen Bank founder Muhammad Yunus was awarded a Nobel Prize. But then, banks jumped in to get in on the profits. To manage high debt levels, Cambodians are migrating for work, eating less and even pulling their children out of school.
