June 28th 2003

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Articles from this issue:

COVER STORY: Counting Stalin's victims 50 years on

EDITORIAL: Australia's population challenge

PACIFIC: Solomon Islands: nightmare in paradise

CANBERRA OBSERVED: Why the Crean-Beazley issue is unresolved

ENVIRONMENT: Climate scientists reject Kyoto Protocol

STRAWS IN THE WIND: Labor mates / Night to remember / Heart of darkness / Intervention

EUTHANASIA: Stopping Australia's Doctor Death

Sugar price decline (letter)

Free trade deal and local shareholders (letter)

TIMOR L'ESTE: Looming food shortage in East Timor

AGRICULTURE: National water trading plan questioned

FAMILY LAW: Canadian court changes definition of marriage

EDUCATION: The problem with boys ...

South African economic miracle?

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Free trade deal and local shareholders (letter)

by Robert Bom

News Weekly, June 28, 2003

Shareholders of Australian companies have much to lose in a "Free Trade" deal with the United States. The average profit made by Australian companies and distributed to shareholders is approximately four and a quarter percent. Most of that is also tax paid. American companies on average manage only one and a quarter percent with tax still to be paid by shareholders on the income.

A negotiated trade deal will give the powerful American companies a free bite at Australia's healthier profit margins.Historically, free trade deals have existed since colonial times to assist rich countries in plundering the resources of smaller nations.

It is important that we keep our friendship with the US, particularly in the area of defence and security, but in a "Free Trade" deal, all we will get from the Americans will be coloured beads and mirrors.

Robert Bom,
Rockhampton, Qld

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