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The principal issue that will be considered in this chapter is how the banking sector facilitates the crimes of money laundering and tax evasion. This will entail asking a series of related questions. Does the assistance of the banking sector in financial crime involve a small number of wayward employees at the periphery of banking? Or are multinational financial institutions willing participants in the systemic evasion of global antifinancial crime standards? In exploring these questions, the theory and practice of money laundering will be explored by focusing on the three stages of the money laundering cycle. The global anti-money laundering standards that apply to the banking sector, and the role of bank secrecy in promoting tax evasion, will be examined through a series of case studies. It will be argued that there is strong empirical evidence that the banking sector is a systemic offender facilitating financial crimes, despite the enactment of international and national antifinancial crime standards and criminal prosecutions of financial institutions.

The World Bank report Changing Wealth of Nations 2018 is only the most recent reminder of how much poorer Africa is becoming, losing more than US$100 billion annually from minerals, oil, and gas extraction, according to (quite conservatively framed) environmentally sensitive adjustments of wealth. With popular opposition to socioeconomic, political, and ecological abuses rising rapidly in Africa, a robust debate may be useful: between those practicing anti-extractivist resistance, and those technocrats in states and international agencies who promote “ecological modernization” strategies. The latter typically aim to generate full-cost environmental accounting, and to do so they typically utilize market-related techniques to value, measure, and price nature. Between the grassroots and technocratic standpoints, a layer of Non-Governmental Organizations (NGOs) do not yet appear capable of grappling with anti-extractivist politics with either sufficient intellectual tools or political courage. They instead revert to easier terrains within ecological modernization: revenue transparency, project damage mitigation, Free Prior and Informed Consent (community consultation and permission), and other assimilationist reforms. More attention to political-economic and political-ecological trends – including the end of the commodity super-cycle, worsening climate change, financial turbulence and the potential end of a 40-year long globalization process – might assist anti-extractivist activists and NGO reformers alike. Both could then gravitate to broader, more effective ways of conceptualizing extraction and unequal ecological exchange, especially in Africa’s hardest hit and most extreme sites of devastation.

The cost of compliance is an essential variable to consider when administering a tax system. One recent study estimates that the yearly federal tax compliance burden in the US exceeds $431 billion dollars, and this cost does not include the potential greatest cost of all – changes in taxpayer behavior that reduces economic efficiency (Laffer, Winegarden, & Childs, 2011). One example of such behavior is the renunciation of US citizenship due to the impact of the Foreign Account Tax Compliance Act (FATCA) reporting requirements. Using this context, our study examines how FATCA compliance costs can affect taxpayer behavior in a manner that reduces economic efficiency. We collected responses from 197 experienced US taxpayers living in the US. Our study finds that when tax compliance costs are high, taxpayers may be more likely to renounce their citizenship to avoid FATCA reporting requirements. We further learn that tax compliance costs may increase the likelihood of citizenship renunciation even in the presence of a minimal US tax burden. Supplemental mediation analysis demonstrates that one's perceived fairness of compliance does not mediate the effect of high compliance costs on a taxpayer's renunciation decision; however, one's perceived fairness of compliance and fear of sanctions, collectively, partially explain the effect of tax burden on the renunciation decision. In addition, we find that ethics, the perceived probability of detection, and average income level affect the decision to renounce citizenship. Our findings suggest broader impacts of tax policy and provide a foundation for future research to further explore domestic and foreign tax compliance behaviors.

We develop the concept of the slave-trade balance of payments and generate its table for the United States for 1790–1860. In the process, we construct new data for the slave trade, including both the physical movement and revenue figures, and we analyze these numbers. The balance of payments includes slave imports, carrying trade in slaves, purchases of slaves that fail to be imported, outfitting and provisioning slave ships, and slave-ship sales. The slave-trade balance is integrated into the standard balance of payments. Among the findings are the following: slave imports were dominated by natural growth except for one decade; US ships had the greater role than foreign ships in the import trade, but were of small—and eventually nil—consequence in the carrying trade; federal and state laws to prohibit the slave trade in all its aspects were generally effective; and the slave-trade balance of payments was a small component of the overall balance.

The pattern of US–China relations can be analyzed through the two opposite experiences – chilling bitterness and friendly accommodations. For a long time, China was neglected by the United States and treated as an enemy due to ideological considerations. The nature of bilateral relations between Washington and Beijing is a very complex one. The US–China economic relationship has reached a critical juncture. Over the few years, the United States has imposed tariffs of $250 billion worth on Chinese imports, and in return, China also raised high tariffs on US exports. The basic objectives of this research are to investigate the causes and potentiality of China–US bilateral trade. It has used the content analysis method and observation method in this study. The result of the study will be manifested based on recent trade restrictions and economic sanctions to each other. The impact of the recent Sino-American trade war resulted in a negative impact on not only both countries’ economies but also on the world economy.

The purpose of this chapter is to explain why ethical evaluation of the impact of a merger or acquisition matters, to place ethical evaluation of M&A in the wider context of knowledge of business ethics and corporate governance, and to develop and demonstrate a framework for evaluating the treatment of stakeholders during M&A. This contribution surveys the relevant governance, ethical and M&A literature. A new stakeholder framework is proposed and then applied to an important case study.

We found that M&A has important consequences for a variety of stakeholders; the strategy and finance literature has concentrated on top management and shareholders and neglected advisers, employees, customers, and suppliers. We also found that a stakeholder analysis framework can be adopted to evaluate each merger or takeover.

This chapter establishes a new framework for evaluating M&A beyond the conventional shareholder value approach; however only one case study is analyzed.

Managers and other stakeholders can use the proposed method to determine the likely impact of an M&A upon themselves and others and consequently weigh up the desirability of doing a deal in a wider context than currently.

The consequences for stakeholders following a merger or acquisition are often profound. The key protagonists ought to be more aware of these consequences which can be detrimental to stakeholders and the organization itself. The approach taken in this chapter provides a new method for both academics and practitioners to evaluate the impact of M&A.

W.E.B. DuBois, in his 1903 collection of writings entitled The Souls of Black Folk, describes what he calls “The Veil,” which succinctly sums up the deadly and adverse experiences of African Americans in the US. With DuBois contemplations of a Veil under which US Blacks alone live and die as context, this paper takes a look at the modern condition of African Americans in the US, whether they continue to exist within DuBois Veil in modern times (twentieth and twenty-first centuries), and if so, to what extent. As a routine examination and inspection of the condition of Blacks in the US, focus is placed on black lives lost, beginning with an appraisal of their size in the US population overtime, and in comparison with other racial and ethnic groups in the US. US census data, health data collected from the Centers for Disease Control and Prevention, and crime data collected from the Federal Bureau of Investigation are examined to construct a composite of the condition of contemporary Blacks in the US as compared to other groups in the US, focusing attention specifically on the rates at which their lives are lost compared to others through infant mortality, low fertility rates, abortion, and high rates of homicide. This analysis concludes with a look at death from homicide before, during, and after the post-1990s drop in the crime rate.

Past research on the immigrant health paradox suggests that children with immigrant parents may have a health advantage over those with US-born parents, especially if the parent is a recent immigrant. Other research emphasizes the social and economic challenges children with immigrant parents face, in part due to disadvantaged social class and racial/ethnic positions. Underlying physiological changes due to chronic stress exposures among children in immigrant families is one potential health disadvantage that may not yet be apparent in traditional health measures. To explore these biological disparities during childhood, I use national biomarker and survey data from the National Health and Nutrition Survey (NHANES) (N = 11,866) to evaluate parent nativity and educational status associations with low-grade inflammation, indicated by C-reactive protein (CRP), in children ages 2–15 years. I find that children with an immigrant parent, and particularly a low-educated immigrant parent, have higher CRP, net of birth, body mass index (BMI) and other factors, than children with a US-born parent with either a low or higher education. Comparing children with low-educated parents, those with a foreign-born parent have higher predicted CRP. The findings from this study provide new evidence that children living in immigrant families in the US may be facing higher levels of chronic stress exposure, as indicated by the increased risk of low-grade inflammation, than those with US-born parents. The physiological changes related to increased risk of inflammation, could set children in immigrant families on pathways toward mental and physical health problems later in the life course.

This chapter aims to shed light on the hidden benefits and losses of US-China trade within the framework of unequal exchange theory. After presenting the evolutions of the trade balance between China and the United States, we propose two methods for measuring the unequal exchange between them: one considers the labor content directly incorporated into the exchange; the other focuses on the international values with input-output tables. This allows to present a synthesis of sectoral analyses. Our results show a significant unequal exchange in US-China trade over 1995–2014, the United States being actually the main beneficiary of this trade. Both methods exhibit the inequality in exchange tending to decrease over time; China's disadvantage has been gradually reducing from the 2000s. We finally suggest that the relative decline in the hegemonic status of the United States in this bilateral unequal relationship could help explain its decision to launch its trade war with China.