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Russian Dolls

Andrew Flint takes a sideways look at the tax world
Amidst all the transactions that make up the global economy it is possible to discern distinct trading blocs where internal transactions outnumber those with the rest of the world.
In the northern latitudes and to the most part east of Greenwich there is a trading bloc that would like to protect the banana industry that forms the backbone of the economies of some former colonies. However it knows that this will be unpopular with other trading blocs which also have banana industries and who may retaliate with say tariffs on imported steel. This results in many arguments and much negotiation of a 'horse trading' nature but by and large each trading bloc recognises that free trade...

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