by Mitch Kokai
Senior Political Analyst, John Locke Foundation
President Trump says that growth is jeopardized in some countries, even though international trade and investment have promoted economic expansion. Just look and see where the rule of law isn’t followed or where governments ignore the theft of key technologies and intellectual property. …
… China isn’t the only threat. The Swiss-based Coalition to Fight Financial Crime estimates that $2 trillion of global output represents the proceeds of criminal activity. Money laundering remains rampant.
Across much of the developing world, the corruption of courts and other government institutions threatens the free flow of goods and capital that drives international trade. Left unaddressed, such threats can lead to heightened tensions among nations and even outright trade wars. Diplomats operate under constraints that limit how much they can call out international bad actors who violate the rule of law.
That’s why it’s refreshing that the Global Justice Foundation — a new nonprofit foundation in Washington, D.C. — is dedicated to exposing corruption in other countries, aiding innocent victims caught up in that corruption, and working with like-minded groups to promote good economic practices in countries that want to improve their economic reputation.
The Global Justice Foundation was founded by Canadian businessman Omar Ayesh, who was frustrated after he and hundreds of other victims lost their money in the largest real-estate fraud in the Middle East, the Tameer Holding scandal, a debacle valued at $1.8 billion by courts in Dubai. “I learned there is no group solely dedicated to improving the enforcement of business ethics in other countries and helping make sure people aren’t victimized by fraudsters who try to corrupt the courts and other institutions,” he tells me.