Newsletter 2010/02/11 - Poverty Business (I)
BERLIN (Own report) - The German ministry of development plans to extend its activities to develop foreign markets for German businesses, according to a competent state secretary. The covert subsidy policy, which, over the past few years, has provided sums in the billions, is operating under the name "Public Private Partnership" (PPP). It is explicitly aimed at opening "growth markets" that have been neglected by the private sector, because of profit perspectives being dim without state subventions. The attention has been particularly focused on impoverished populations in the countries of the southern hemisphere because of the global financial and economic crisis. Because of their high percentage of the world's population and in spite of their low income, they are being considered as potential consumers of metropolitan goods and services, such as so-called "micro-insurances" against the sequels of natural catastrophes. The German Allianz Insurance Co. can expect considerable profits from these cheap "micro-insurances" that are subsidized by the ministry of development, because of the large number of insured.