Term “Corrosive Capital” Used in Woodrow Wilson Center Webinar

10.23.2020 | CIPE in News

In a recent Woodrow Wilson Center webinar titled “Force Multipliers? U.S. and Taiwanese Interests in Latin America,” the CIPE-coined term ‘corrosive capital’ was used by Julie Chung, Principal Deputy Assistant Secretary in the Bureau of Western Hemisphere Affairs. Chung also used the term at a recent US Senate Committee Hearing on Foreign Relations.

Quote:

“We would never direct our private-sector companies, as you said, to go here or there, as we don’t direct governments in the region to choose U.S. or China, that is not what we do. It is really a choice of principles and values and approaches. Again, do you choose a transparent, good governance route, or do you choose a route of corrosive capital that’s going to destroy your environment and labor? Those are the choices that are in front of the governments and the people in the region.”

Watch the full event here: