Comments by "Louis Giokas" (@louisgiokas2206) on "OBF" channel.

If companies need to pay a royalty to UNCLOS then why don't land mining companies have to do something similar some relevant organization? International taxes are really kind of silly. The human cost of mineral extraction is quite high, especially in places like Africa and South America. Where is the outcry for these people? One also has to look at the cost of relying for critical minerals on countries that are international pariahs and criminals. As for UNCLOS, the US is not a signatory. The US is also looking at seabed mining off its own coasts. China is a signatory and actively flouts its rulings. China also flouts international fishing rights and its practices adversely impacting biodiversity. This is just another failed UN agency.
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@freedomfighter22222 Your understanding of what I said, and UNCLOS. For one thing, the idea of paying to UNCLOS is what the person in the video said. Any "international" taxes are just plain silly. Even the contributions to the UN are called "contributions", not taxes. The countries contributing can change their contribution. Their own legislatures what to contribute, not some international "legislature". You misinterpret UNCLOS. The country that controls an exclusive economic zone does not have to grant the rights for another country to extract resources in that zone. It does not even have to collect taxes, really royalties, from that extraction. Generally, they will want to, but it is not a requirement.
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China built all those high-speed rail lines, but the system has almost $1T in debt and that is only growing. Outside of the lines between the major cities, which are profitable, the expansion has only saddled the country with unprofitable lines. By the way, that debt is approaching 5% of China's GDP.
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@harukrentz435 You misunderstand. That is 5% just for HSR. Not all rail, but just HSR. That is terrible.
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