$32 Trillion In Offshore Wealth

By Chandrashekar (Chandra) Tamirisa, (On Twitter) @c_tamirisa

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The purpose of this article is to provide readers with direct access to a report done for the Tax Justice Network by former Chief Economist of McKinsey and Company James Henry about offshore financial wealth.

The context, readers must note, is the current global economic slowdown and the attendant extraordinary monetary and fiscal easing by governments. We are doubtful of the efficacy of economic policies given the James Henry report about capital flight benefiting individuals.

The James Henry report

International Consortium of Investigative Journalists (ICIJ) has covered the issue of about $21 to $32 trillion ($32 trillion is one-half of the size of the global economy) stashed away in offshore financial centers as reported in several newspaper reports:

Forbes, The Hindu, Guardian, Times of India, The Washington Post reports

About Chandrashekar (Chandra) Tamirisa

This entry was posted in Economics, Politics, Transformations LLC and tagged . Bookmark the permalink.

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