On one level, this is a good thing as there has been a race to the bottom going on in terms of taxes for some time.<p>But on another level, this is very bad because national tax policy is now being set by unelected diplomats instead of congress. It's an ominous admission that western democracy is now unable to operate as it's meant to and set policy in a way that reflects the desires and interests of the citizens.<p>I know that worrying about national sovereignty is usually a right wing thing, but there is some truth to it- when the economy is international the bodies with the most power are the international economic agencies and banks. For example it's well known that Greek government policy after the financial crisis was dictated to them by the European Central Bank and the IMF. Likewise the World Bank and the IMF set policy for a large swath of the global south. And none of those people are elected.