Global Crisis Seminar

Global Crisis Seminar
TNI, 17-18 February 2002

• Introduction
• Programme
• Participants
• Papers

Introduction

On 17-18 February, TNI organised a seminar on the Global Economic Crisis. Seeing the crisis in the context of growing resistance to what was called ‘the Washington consensus’ or neo-liberal hegemony, opens up the intellectual and political space for counter-hegemonic struggles. The seminar addressed a number of questions, like: What would be the effects of the crisis for different regions of the world - Asia, Africa, Western Europe, Eastern Europe, Latin America? How will the crisis reshape the balance of social and political forces? How can the anti-globalization movement use the new opportunities?

In 2001 US economy entered a period of recession. It happened after what was called the longest economic expansion in recent history. If we look at the global economy, however, the picture is very different. Growth in Western Europe was weak.

Post-Communist countries of Eastern and Central Europe were in depression for most of the 90s. East Asia suffered a major crisis in 1997-98 which was followed by financial calamities in Russia, Latin America and Turkey. Most African countries struggled to survive the "structural adjustment" imposed on them by the INF and the World Bank.

Interestingly, while the mainstream economists speak a lot about globalization pointing to the fact that all major economies in the world are now interconnected, they also tended to analyze the American as an isolated phenomenon, thus making no connection between the success of America and the failure of everybody else. However in 2000-2001 American success story turned into a not-so-success story and by the end of 2001 America itself looks like one of the main sources of problems for the rest of the world. In that sense the military political crisis of September 11 and after can be seen as part of global destabilization provoked by American situation.

The crisis of 2001-2002 is arriving in the context of growing resistance to what was called "the Washington consensus" or Neo-liberal hegemony. It opens up intellectual and political space for counter-hegemonic struggles. There are new dangers as well as new opportunities.

The possibilities of the left and progressive forces to use these opportunities and address the emerging problems very much depend on our answers to the following questions:

• Is the current crisis just a cyclical recession or we deal with the structural crisis similar to those of 1929-33 and of the 70s? What are the main causes of the crisis that make it so different from the earlier recessions?
• If we deal with the structural crisis we have to take into consideration the fact that all previous ones ended in a major transformation of international capitalism: is Neo-liberal model of capitalism going to be replaced by another one as a result of this crisis?
• How will the crisis reshape the balance of social and political forces? Is there a chance of a new "historic block" emerging to undo the Neo-liberal model?
• What would be the effects of the crisis for different regions of the world - Asia, Africa, Western Europe, Eastern Europe, Latin America?
• Are there new revolutionary and reformist possibilities emerging, how can the "anti-globalization" movement use the new opportunities?
• What are the alternative strategies we can offer?

PROGRAMME OF THE SEMINAR:

DAY 1: Sunday 17 February

The Nature of the Global Crisis

• Chair: Fiona Dove
• Inputs: Boris Kagarlitsky and Marylou Malig
• Discussion: 1 hour

US and the Global Economy

• Chair: Patrick Bond
• Inputs: Kevin Danaher, Howard Wachtel and Doug Henwood
• Discussion: 1 hour

Regional and transnational aspects of the crisis 1

• Chair: Boris Kagarlitsky
• Inputs: Alan Freeman, Bill Robinson, Dmitri Glinski, Sungur Savran
• Discussion: 1 hour
• Concluding remarks: Boris Kagarlitsky

Day 2: Monday 18 February

Regional and transnational aspects of the crisis 2

• Chair: Alan Freeman
• Inputs: Patrick Bond, Mary Lou Malig, Miguel Teubal
• Discussion: 1 hour

Strategic conclusions

• Chair: Bill Robinson
• Discussion of pre-written papers. All participants are invited to summarize
  their conclusions from the seminar and comment (once!) on others'.

Book Discussion
Informal discussion on the perspectives of the book (publishing perspectives, editing, rewriting the papers, deadlines etc.). Roger van Zwanenburg of Pluto Press leads the discussion.