Indeed, when foreign capital stampedes, its impact on the balance sheets of banks and private enterprises, when they have large unhedged foreign liability, can be devastating, as seen in East Asia.

CNN: VIEWPOINT

For this reason, the U.S. tax rules governing the dollar-for-dollar foreign tax credit require a U.S. company to exhaust all effective remedies to reduce its taxes under foreign law, or else the credit will be denied in other words, U.S. law expects a U.S. company to take responsible measures to reduce its foreign tax liability, because this has long been understood to be in the national interest.

FORBES: U.S. Corporations Act Responsibly in Reducing Foreign Taxes

The OECD said it was "seriously concerned about the UK's continued failure to address deficiencies in its laws on bribery of foreign public officials and on corporate liability for foreign bribery".

BBC: UK under fire over bribery laws