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Why US companies can earn $51 billion in the Cayman Islands even though its GDP is only $3 billion

Date: May 29, 2014
Author: Tim Fernholz
QUOTE: The foreign subsidiaries of US corporations made $94 billion in Bermuda in 2010, the latest year we have data for. That’s incredible work, since only $6 billion of goods and services were produced on the island that year. What does that tell us? It tells us that something fishy is going on.

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