Fwd: ETC: Concentration in Corporate Power: 2003

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ETC: Concentration in Corporate Power: 2003

 

 

News Release

5 December 2003

ETC Group

www.etcgroup.org

 

 

Oligopoly, Inc. -- Concentration in Corporate Power: 2003

 

The ETC Group today released a new report on concentration in corporate power.

The 18-page report entitled, " Oligopoly, Inc., " documents eye-popping trends in

corporate consolidation in the life sciences industry.

 

The full report is available at: www.etcgroup.org

 

For the past 20 years, ETC Group (formerly as RAFI) has monitored corporate

concentration in commercial farming, food and health. This year, ETC Group's

report also includes the emerging field of nanotechnology. Nanotechnology refers

to the manipulation of matter at the level of atoms and molecules, the building

blocks of the entire natural world.

 

According to ETC Group's report, transnational firms are overwhelming

governments and subverting national sovereignty. Based on 2002 statistics, over

half of the world's 100 largest economic entities are transnational

corporations, not nations. Wal-Mart is bigger than Sweden; Home Depot (a

hardware and building supply retailer) is a bigger economic entity than New

Zealand. When governments serve corporate interests rather than the interests of

citizens, democracy is undermined, diversity is destroyed and human rights are

jeopardized. " Oligopoly, Inc. " examines the following sectors in more detail:

 

* PHARMA: The top 10 companies control an estimated 53% market share of the

world's leading 118 drug firms.

* BIOTECH & GENOMICS: The top 10 firms account for 54% of the biotech sectors'

$42,000 million ($42 billion) revenues.

* ANIMAL PHARMA: The top 10 companies control 62% of the $13,400 million world

market.

* SEEDS: The top 10 companies control one-third of the $23,300 million

commercial seed market.

* PESTICIDES: The top 10 firms control 80% of the $27,800 million global

pesticide market.

* FOOD RETAIL: The top 10 mega-grocers control 57% of the total sales of the

world's leading 30 food retailers.

* NANOTECH: Public & private sector investment in nanotechnology is an estimated

$5,000-$6,000 million per annum.

 

Corporate consolidation and converging technologies are driving economic, social

and political issues that range far beyond the borders of any single country. In

addition to campaigns waged by civil society and peoples' movements at the local

and national levels, reform of corporate governance will require that the United

Nations gain the capacity to monitor and regulate corporate governance. Beyond

governance, the international community must create the capacity to track,

evaluate and accept or reject new technologies and their products through an

International Convention on the Evaluation of New Technologies (ICENT).

 

For more information, please contact:

 

Hope Shand or Kathy Jo Wetter: +(919) 960-5223 email: hope

 

Pat Mooney +(204) 453-5259 email: etc

 

Silvia Ribeiro +(52) 55 55 63 26 64 email: silvia

 

Jim Thomas +44 18652 07818 email: jim

 

 

 

 

 

 

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