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Via 3Quarks Daily 3quarksdaily.blogs.com/ is a link to and article by Susan George in Le Monde Diplomatique regarding John Maynard Keynes" ideas for an international trade organization.
In response to the collapse of the Doha Round, George observes: "The absence of cancer is to be desired but the absence of an international trade regime just leaves the field open to bilateral and multilateral deals which are always even more invasive and dangerous for weaker partners than is the WTO."
Susan George's discussion about why the ITO never got off the ground in the first place is really informative and interesting--worth reading the article for that alone. But what really caught my attention was a scenario of how a ITO might actually come around:
"In these circumstances, how could the global justice movement help to make fair trade a reality, since the WTO and its disastrous rules already exist? The writer George Monbiot believes that the South could use its $26,000bn of debt as a “nuclear threat” against the world financial system unless it consents to establish an ICU. The South could begin by creating its own, smaller clearing union: perhaps Latin America could launch such a plan. Perhaps a new government in France could put it on the agenda; stranger things have happened."
In response to the collapse of the Doha Round, George observes: "The absence of cancer is to be desired but the absence of an international trade regime just leaves the field open to bilateral and multilateral deals which are always even more invasive and dangerous for weaker partners than is the WTO."
Susan George's discussion about why the ITO never got off the ground in the first place is really informative and interesting--worth reading the article for that alone. But what really caught my attention was a scenario of how a ITO might actually come around:
"In these circumstances, how could the global justice movement help to make fair trade a reality, since the WTO and its disastrous rules already exist? The writer George Monbiot believes that the South could use its $26,000bn of debt as a “nuclear threat” against the world financial system unless it consents to establish an ICU. The South could begin by creating its own, smaller clearing union: perhaps Latin America could launch such a plan. Perhaps a new government in France could put it on the agenda; stranger things have happened."
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