International Law: Big Business

hard level

Big Business - International Law / Companies Vs Countries

Episode 211013/ 13 Oct 2021
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Transcript

Note: This is a transcript of a spoken conversation and is not a word-for-word script.

TimMultinational corporations can be really big bigger even than some countries. But does that mean they're more powerful than a country? We'll show you how the law keeps things balanced.

How can countries stop multinational companies if they break the law?

And why do they end up fighting each other in court?

And... let's find out how companies structure themselves to limit the power of a state.

Daniel

LeaderThey're used to getting away with it. For decades, no one's held them to account. They've never been subject to any serious pressure.

TimSo, as these companies grow, is the law keeping up? Do countries or companies have more power, legally? Let's look at Canada, one of the most sued countries in the world.

Canada has been sued lots, because of something called the North American Free Trade Agreement: NAFTA.

NAFTA was the free trade deal between Canada, the USA and Mexico.

But, it also made it easier for investors to sue governments if they thought the deal was broken.

Canada soon became the most sued developed country in the world with 35 claims against it.

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