June 19, 2013

The OECD Forum: better policies for better lives?

Yesterday, as the highly publicized 2011 G8 Summit got underway, another international dialogue was drawing to a close: the Opportunity for Economic Cooperation and Development (OECD) Forum. The OECD, which to date consists of 34 member countries representing mainly developed and emerging economies, gathered in Paris, France from May 24-26th to commemorate its 50th anniversary as an economic organization that, “Promotes policies that will improve the economic and social well-being of people around the world.” Primarily a body that collects and … [Read more...]

What do you want to see from the upcoming G8 Summit?

This week, the leaders of the world’s eight most powerful economies—known as the Group of 8 or G8—will meet in Deauville, France, for the 37th annual G8 Summit. The G8, which includes France, the United States, the United Kingdom, Russia, Germany, Japan, Italy and Canada, was initially formed in 1975 to respond to the worldwide recession created by the first oil crisis. Since then, the G8 Summit has been a forum for these nations to come together to address global economic issues. Over time, that discussion has evolved to include matters such as … [Read more...]

Universal Declaration of Economic Rights: A New World Order?

Critics have attempted to expose the inefficiencies of the Bretton Woods system that caters to countries that have the most money and consequently most voting power. Multi-lateral funding agencies are under fire for perpetuating their own standards of multilateralism that favor founding members or developed countries. The obvious and consistent divide between rich and poor countries and lending and indebted countries continues to fuel the impression that the once admired Bretton Woods system falls short of capturing the true essence of international … [Read more...]

Stop Gambling Green on Grain this St. Patrick’s Day!

St. Patrick’s Day:  Stop Gambling Green on Grain! Here in the US, many people celebrate St. Patrick’s Day with traditional Irish food and drink. Sadly, for much of the world, the main ingredient in some St. Patrick’s Day brews is becoming unaffordable. Prices on food staples--such as grain--are at an all time high. One billion people in the world are already considered chronically hungry and this number is only going to increase. Gambling on food commodities is a major cause of this crisis. Although investors and companies can turn a … [Read more...]

G20 Ministers Light Up Paris with Debate

Former home of Parisian elite, King Louis XV’s mistress, Napoleon and the current presidential residence and office, the Élysée Palace has seen its fair share of historical events, parties, and political showdowns.  A few weeks ago, as it played host to the meeting of the G20, it certainly saw again two of those three.  Instead of hosting large parties and banquets, the financial ministers from the Group of 20 countries discussed the issues facing the global financial market. The G20 is comprised of most of the world’s largest economies. 19 … [Read more...]

Trade, Aid, Power and Samsung at Seoul- G20 meetings, 2010

The G20 meetings are publicly recognized for being the arena of two repeating themes: citizen protest against unfair trade policies that affect communities across the world, and world leaders flexing their muscles to see who walks away as top dog. The G20 meeting in Seoul, South Korea was burdened with a third theme– that of finding solutions to the ongoing global economic crisis and the fast approaching threat of protectionism. Why is protectionism an issue? In the context of the US economy, it could mean lower foreign investment, which would lower … [Read more...]

G20 & the IMF: peddling cosmetic changes while hounded by illegitimacy

If you are at all interested in finance for development, check this out. Post courtesy Choike.org Statement of the WOMEN’S WORKING GROUP ON FINANCING FOR DEVELOPMENT * for the G20 Summit in Pittsburgh, September 2009 The current G20 meeting in Pittsburgh takes place a year after the outbreak of the worst financial crisis in recent history. That moment left us astonished as we watched powerful governments and the International Financial Institutions scramble to plug a hemorrhaging financial bubble burst in the system of the global market but the … [Read more...]

What People Have to Gain by Scaling Down…G20 Style

First, let me begin with an introduction: my name is Ethan Frey. I'm a senior International Politics major (+ a few minors) at Westminster College in New Wilmington, PA.  I am serving as one of Americans for Informed Democracy's Northeast Regional Coordinators this year, with a focus on  Global Environment. There'll be some great, exciting and substantively significant events happening through the Fall (Power Shift Pennsylvania and Copenhagen, most namely) and I'm excited to organize around them - for and against them - with you all. Thanks for the … [Read more...]

The Newest Global Religion

Post by William Easterly The world economy with its multiple crises is a frightening place. To confront our fears, we have a new global religion. It developed slowly over the last couple decades, based on the sacred writings of the world’s leading shamans. The shamans have been releasing a new scripture of prophecy and comfort every year after secluding themselves in a remote location for several days of prayer and reflection. There used to be only seven of these shamans, and they were known for short as the G7. As of their latest retreat to the … [Read more...]

Priva Ha’angandu of Jubilee Zambia Critiques G20 Policies, IMF Lending

One of the speakers present at yesterday's Global/Local Exchange, Priva Ha'angandu, traveled from Zambia to represent the impact of G20 policies on poor countries. While Priva advocated debt forgiveness to those he spoke with, he also warned that countries like Zambia, which are benefiting from the Heavily Indebted Poor Countries Initiative, are forced to adhere to certain conditionalities, such as privatization of public works and financial deregulation, which disadvantage have radically disrupted the country's ability to pay for important human … [Read more...]