ABSTRACT
The sangam of foreign investment, multinational corporations (MNCs) and human rights raises new challenges for the developing countries in Asia. This chapter proposes to uncover the rainbow created by the sangam of foreign investment, MNCs and human rights in Asia. It examines the negative effects of foreign investment by MNCs on human rights and development, especially in developing countries. The chapter explores the individual and/or collective strategies that developing countries could, if at all, employ to exercise a control over the flow and direction of such investment. Foreign investment by MNCs adversely affects human rights realisation in several ways. The chapter examines the negative impacts of foreign investment on human rights and development. It argues that developing countries should realise their place in an interdependent world, be guided by an approach of "diversified integration", rely on human rights norms, and foster alliances with civil society organs in order to control the flow and direction of foreign investment.
