On the night of August 27, 1993, a dam burst high in a remote province in China, sending torrents of water crushing down on nearby villagers. Close to 300 people were killed and thousands made homeless.
(October 1993) China’s official media have been eager to depict happy peasants thanking the government for their decision to move them out of their poverty-ridden villages on the Yangtze, and give them new homes, jobs and farmland. But this is not the whole story.
(October 1993) In the chaotic, black-market capitalism of the new China, the children of the Communist elite are the economic warlords – a secret society reaping vast fortunes through family connections.
(September 19, 1993) ON THE NIGHT OF AUGUST 27, 1993, a dam burst high in a remote western province of China, sending torrents of water crashing down on nearby villages, killing more than 200 people, and rendering thousands more homeless. Though no official reason has been given for this latest human-made disaster in a country plagued by them, one government spokesperson admitted that a destructive earthquake which hit the region of the Gouhou dam in 1990 "may have had some effect" in causing the dam to collapse under this year’s flood waters.
Spotlight on China
(August 28, 1993) The World Bank’s new “substantially more open information policy” is a half-measure that will not change the bank’s secret way, a leading Canadian critic says.
The Bangladesh Flood Action Plan Strikes
(1993) For more than ten years citizens groups from around the world have been trying to stop the World Bank and the other multilateral davelopment banks (MDBs) from wreaking environmnetal havoc, financial ruin, and social harm across the Third World.
(June 12, 1993) China’s economic changes are succeeding, where the 1989 pro-democracy movement failed, in breaking the power of the state over the people
(June 1, 1993) The analysis demonstrates that a debt crisis can be expected when borrowing decisions are made by corrupt agents whose behaviour cannot be controlled by their principals.
(June 1, 1993) Arvind K. Jain uses the concept of agency theory to analyse the effects of corruption of the decision makers on the level of foreign debt.
(June 1, 1993) The fall of the Saddam Hussein regime in Iraq has called on lenders to account for their funding decisions as never before. Only two decades ago, the prevailing wisdom held that loans to governments were the least likely to go sour because government guarantees eliminated commercial risk. Dictators, in other words, posed no more or less risk than anyone else.
(May 27, 1993) Chinese officials yesterday appeared unprepared and unable to answer questions from environmental activists on the economics and environmental feasibility of plans to build world’s largest dam on the Yangtze […]
(May 14, 1993) No dissent has been allowed to stall the Three Gorges dam scheme, inspired by a Mao poem and now pet project of the man held most responsible for the […]
(April 30, 1993) Various reasons are being put forward to explain why India refused further World Bank assistance for the controversial Sardar Sarovar project.