----- Original Message -----
From: <[log in to unmask]>
To: <[log in to unmask]>
Sent: Wednesday, February 25, 2004 2:15 PM
Subject: [unioNews] Global economy "must adjust to include millions it puts
in poverty"
> Andy spotted this on the Guardian Unlimited site and thought you should
see it.
>
> To see this story with its related links on the Guardian Unlimited site,
go to http://www.guardian.co.uk
> <H3>Global economy 'must adjust to include millions it puts in
poverty'</H3>
> <B><i>UN labour organisation seeks political will for a new ethical thrust
> Charlotte Denny, economics correspondent</i></B>
>
> Tuesday February 24 2004
> The Guardian
>
>
> World leaders must address the "ethical vacuum" at the heart of
globalisation or face the danger that the widening gap between rich and poor
will lead to further conflict, political upheaval and war, the International
Labour Organisation said yesterday.
>
> Its year-long commission on globalisation has concluded that the
deep-seated and persistent imbalances in the workings of the global economy
are unsustainable.
>
> Without fairer rules governing trade flows, immigration and labour
standards, billions will continue to miss out on the rising global
prosperity, prompting a fresh wave of international instability.
>
> "Global governance is in crisis," the report said. "We are at a critical
juncture and we need urgently to rethink our current policies and
institutions. The economy is becoming increasingly global, while social and
political institutions remain largely local, national or regional."
>
> Properly managed globalisation could be a force for good: the faster
growth spurred by integrating world markets has the potential to lift
millions out of poverty.
>
> "Wisely managed, it can deliver unprecedented material progress, generate
more productive and better jobs for all, and contribute significantly to
reducing world poverty."
>
> But to achieve this will require world leaders' political will to change
the current path of globalisation.
>
> "Wealth is being created, but too many countries and people are not
sharing its benefits."
>
> Some of the poorest states suffer from too little not too much integration
with world markets, the ILO's director general, Juan Somavia, said.
>
> "Globalisation has passed over the heads of African countries."
>
> The panel, which was chaired by the presidents of Tanzania and Finland and
included the Nobel prize winning economist Joseph Stiglitz, interviewed
citizens, politicians and business leaders from around the world.
>
> It found widespread concern about the current direction of globalisation.
"Its advantages are too distant for many while its risks are all too real,"
the report said.
>
> "Corruption is widespread. Open societies are threatened by global
terrorism, and the future of open markets is increasingly in question."
>
> Globalisation had created winners and losers both within and between
countries. Unemployment worldwide had reached 185m, according to the ILO,
the highest recorded. And the richest 1% of the US population raked in 17%
of the country's income, the highest level of income inequality since the
1920s.
>
> On the positive side, the rapid rise in global communications brought the
reality of life in the poorest communities on to the TV screens of the rich,
prompting growing concern in the west about fairer trade rules and global
labour standards.
>
> "A truly global conscience is beginning to emerge, sensitive to the
inequities of poverty, gender discrimination, child labour and environmental
degradation wherever they occur."
>
> The report recommended that western leaders tackle the skewed rules of
global trade which shut exports from some of the poorest countries out of
rich countries' markets and promote a minimum level of social protection
worldwide.
>
> More aid money had to be found to finance the UN's ambitious millennium
development aim to halve global poverty by 2015.
>
> "The choice is clear," the report said.
>
> <B>"We can correct the global governance deficit in the world today,
ensure accountability and adopt coherent policies that forge a path for
globalisation that is fair and just, both within and between countries; or
we can prevaricate and risk a slide into further spirals of insecurity,
political turbulence, conflicts and wars."</B>
>
> Copyright Guardian Newspapers Limited
>
>
>
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