The passage discusses tax havens and their disadvantages. It begins by defining tax havens as countries or jurisdictions that offer favorable tax rates and financial secrecy to foreign investors. It then notes that tax havens can negatively impact other countries by enabling tax evasion, as companies can avoid paying taxes in their home jurisdiction if they pay taxes in the tax haven instead. The passage goes on to discuss some of the largest tax havens, led by Switzerland, and their primary goal of attracting foreign investment through low tax rates.