trading, trade finance, and shipping (Cargill, Mediterranean Shipping Company, Louis Dreyfus Company, Mercuria Energy Group, Trafigura, Banque de Commerce et de Placements). The Bank of International Settlements, an organization that facilitates cooperation among the world's central banks, is headquartered in the city of Basel. Founded in 1930, the BIS chose to locate in Switzerland because of the country's neutrality, which was important to an organization founded by countries that had been on both sides of World War I. In May 2006, foreign banks operating in Switzerland managed 870 billion Swiss francs worth of assets. In 2014, this number was estimated to be 960 billion Swiss francs. Connection to illegal activities Swiss banks have served as safe havens for the wealth of dictators, despots, mobsters, arms dealers, corrupt officials, and tax cheats of all kinds. Commodities trading Switzerland is a major hub for commodities trading, globally. Commodities trading represents 4% of Swiss GDP (2022). The range of products traded either physically or financially include agriculture, minerals, metals and oil/energy. Some 40% of all oil shipments are traded through Switzerland, along with 60% of metals and grains (2022). 10,000 persons work in the commodity trade business in Switzerland (& 35,000 indirectly). Mostly around Lake Geneva, Zug and Lugano. Corporate loans and revolving credit facilities granted to the five main Swiss energy trading houses (Glencore, Mercuria, Gunvor, Vitol and Trafigura) between 2013 and 2019 exceeded $360 billion. Switzerland is also a major hub for gold trading with some of the largest refiners including Valcambi, PAMP/MKS, Argor-Heraeus and Metalor. Agricultural commodities trading is dominated by ADM, Bunge, Cargill and Louis Dreyfus. Shipping firm MSC, logistics company Kühne + Nagel and Danzas and quality control firm SGS S.A. are also major players in this sector. This situation has enabled some types of organization in commodities trading to be involved in corruption and exploitation and operate with little or no transparency or oversight. Workforce The Swiss economy is characterised by a skilled and generally 'peaceful' workforce. One quarter of the country's full-time workers are unionised. Labour and management relations are amicable, characterised by a willingness to settle disputes instead of resorting to labour action. They take place between trade unions and branch associations, that are themselves often grouped in Union of Employers, like the Fédération patronale vaudoise or the Fédération des Entreprises Romandes Genève. About 600 collective bargaining agreements exist today in Switzerland and are regularly