In the North and South, power and telecommunication services, railroads and airlines, health services and pensions funds, forests and public beaches have been privatized at a rapid pace.
Private capital flows from North to South have rapidly overtaken official development assistance.
In spite of all the talk about private responsibility, the private sector is always happy to leave the risks and cost with the state. The private World Economic Forum is relying on the free services of the Swiss army to carry out its annual meeting in Davos. Equally, exporters and investors will often turn to export or investment risk guarantee agencies so that they can cover up the risks of their private projects with public guarantees. And when it comes to large infrastructure and extractive projects mines, oil and gas drilling, thermal or hydro power plants export credit agencies are a primary and critical source of finance. Large infrastructure and extractive projects are of obvious relevance for the environment for rivers, forests, the atmosphere.