worker co-determination is at the core of their corporate system or cross ownership exists. Despite the presence of representatives from Germany and Japan on the Advisory Group, no concessions are made to other corporate cultures. In themselves the Principles appear somewhat harmless as they are non-binding and for guidance only. That, however, is not the end of the matter, the adoption of the Principles by the IMF and the World Bank as part of their assessment criteria for lending is less harmless and may begin the imposition of a foreign corporate culture on Asian, African, South American and continental European states