Civil society groups and global social movements gathering at the UN summit on the global economic crisis have denounced rich industrialized countries’ insistence on pushing forward unbalanced trade talks, misnamed “free trade”, as likely to exacerbate an already serious economic and social crisis.
Some Key Points for Member Groups of the Our World Is Not For Sale Network [OWINFS] at the United Nations Conference on the World Financial and Economic Crisis and its Impact on Development, June 22-24, 2009.
Speech delivered at the Conference on the Global Crisis sponsored by Die Linke Party and Rosa Luxemburg Foundation, Berlin, March 20-21, 2009. Week after week, we see the global economy contracting at a pace worse than predicted by the gloomiest analysts.
Talk of the dangers of trade protectionism is used by European politicians to obscure the need for protection from transnational corporations whose control of European trade policy continues to cause negative social and environment impacts. Susan George and Myriam Vander Stichele debate MEP Ignasi Guardans and Chief Economist DG Trade, Gaspar Frontini, in TNI's Debating Europe series.
Since the current financial crisis started, none of the governments, experts or media who have called for new regulations for the financial industry have taken into account rules of the World Trade Organisation (WTO) which actually impose extreme financial service deregulation on many WTO member countries.
An international financial architecture will be new if it is aimed at strengthening their members’ capacity to plan and manage sustainably their own endogenous, democratic and sustainable socioeconomic and human development.