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This is the ugliest chapter in global economic affairs since slavery -- and secretive offshore tax havens are at the heart of the trouble.
Dirty money, tax havens and the offshore system describe the ugliest and most secretive chapter in the history of global economic affairs. The World Bank has reported that the flow of dirty money across borders, out of developing countries and into rich ones, is up to ten times the amount of foreign aid that flows the other way.
Most people regard tax havens as being relevant only to celebrities, crooks and spivs, and mistakenly believe that the...