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To hide the facts about failed trade policies, proponents are changing the data
The global financial crisis demonstrated the dangers of extreme financial deregulation and its consequences for human development. With many economies still reeling from the aftermath of the financial crisis and with trade volumes only recently recovering, this session will examine critical global challenges that characterize the post-crisis global economy with respect to the future of financial services liberalization and regulation. Panelists discussed how current and prospective global trade rules relate to potential opportunities and risks – including the utilization of capital controls and proposed taxes on financial transactions – in light of lessons learned from the financial crisis and countries’ responses to it.
The world faces multiple crises that put the current model of development into test and pose challenges for the world of work. At the same time, restrictions and rules harmonization on TRIPs, investment policy, financial regulation and trade policy raise questions on the state’s role in development. In light of multiple crises, what role should the state play in spurring social and economic development? What are the lessons to be learnt from the experience of various countries with the crisis? What are the areas of international agreements where restricting policy space is particularly risky for social and economic development? What is the role of the international trade institutions (WTO and UNCTAD) in providing and assisting national development policies, including the implementation of decent work programs?
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