US billionaires are trying to establish a libertarian city-state in Honduras to evade democratic constraints. As progressive president Xiomara Castro resists their efforts, the Peter Thiel–backed firm Próspera is suing the country for constraining its profits.
The ZEDE’s which as I understand it, is like a free trade area/zone in the west but on steroids. Basically, investors can buy their own miniature nation to govern within Honduras, protected by Honduras but can’t be repealed for at least 50 years. Now that Honduras is ousting their corrupt government officials, they obviously repealed the law establishing ZEDEs.
So now, investors are suing Honduras in what is going to be essentially a “court” of investors (ICSID, UNCITRAL or whoever) that will likely rule in the investors’ favor (as they usually do).
It’s like this was taken out of a dystopian novel.