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Article

16 Aug 2001

Author:
The Nation [Nairobi]

Investors Avoiding Country, Says Employers Federation [Kenya]

Mr Owuor [Tom Owuor, Federation of Kenya Employers chief executive] said globalisation was not favouring developing countries as it was killing most of their industries. He said that despite the pressure being put on the developing countries to open their markets, the industrialised countries had continued to refuse to remove subsidies, especially on agricultural products. He said countries like Kenya were in a dilemma as the Bretton Woods institutions were dictating policies to them.