Launching of South Centre report on the eve of the G-20 Summit: “Why the IMF and the International Monetary System Need More Than Cosmetic Reform”.
The hopes of a rapid global economy recovery have recently been dashed by renewed turmoil in the world economy. The sovereign debt problems in several European countries, the gyrations in currency exchange rates, volatility in capital flows, and the war of words among major economies over “trade sanctions” and “competitive devaluations” are some of the many troubling signs of a new crisis (more…)
China’s Trade Surplus with United States is over-rated as less than a third of the export value is retained in China.
China has come under criticism in the United States for having a large trade surplus with the US. In reality, little of the gross surplus (as little as 30%) is retained in China. Thus, the trade surplus that China enjoys with the United States is over-rated. (more…)
Due to Global Crisis, China and East Asia Need to Rethink Their Growth Strategy.
Using new methods of calculation, the South Centre assesses that China has been much more deeply dependent on exports for its growth that previously estimated. The Centre estimates that exports contribute about 50% of China’s recent pre-crisis growth. This high export dependence makes China more vulnerable than normally perceived to the slowdown in the US and Europe. (more…)
Ministers of BASIC Countries (Brazil, China, India, South Africa) Stress Primacy of United Nations as a Forum for Climate Negotiations and that the World Cannot Wait Indefinitely for The United States to Act on Climate Change.
At their third meeting that took place in Cape Town, South Africa, from 25 to 26 April 2010, the ministers in charge of climate change negotiations from the BASIC countries (Brazil, China, India, and South Africa) stressed their determination to have their countries “continue to show leadership in acting on climate change.” (more…)
Development Agenda Group (18 Developing Countries) Launched at WIPO Meeting to Implement Proposals on Integrating Development Goals into WIPO.
On 26 April 2010, at the meeting of the WIPO Committee on Development and Intellectual Property (CDIP), the Egyptian Ambassador, Mr. Hisham Badr, announced that a new group of developing countries named the WIPO Development Agenda Group (DAG) had been formed. (more…)
South Centre Proposes Policies Towards Sustainable Global Economic Recovery.
The South Centre has published a paper analysing current weaknesses and imbalances in the global economy and in the major countries. It also makes proposals on what needs to be done to achieve a global economic recovery.(more…)
Statement at UN High Level Conference on South-South Cooperation, Nairobi, Kenya
On behalf of the Chairman of the Board of the South Centre, H.E. former resident Benjamin W. Mkapa of the United Republic of Tanzania, and the Executive Director of the South Centre, the South Centre is pleased to articipate in this Conference, and congratulates you on the successful negotiation of the outcome document. (more…)
Statement at UNTAD Trade and Development Board, Geneva
First, I would like to reattribute the UNCTAD for its 45 years anniversary on trade work. The UNCTAD has been playing very important roles in the past; the birth of the UNCAD was to make up the vacuum in the trading systems. (more…)
Statement to the United Nations Conference on the World Financial and Economic Crisis and Its Impact on Development, New York
This crisis triggered by widespread speculative lending and investment in major international financial centres is causing a major setback to development and poverty reduction. The combination of sharply declining export earnings, collapse of remittances, reversal of private capital flows and an extreme degree of credit squeeze affecting even trade finance is producing a sharp economic slowdown and contraction in many parts of the developing world. (more…)
Speech on International Cooperation Forum on Resources and Environment, Changsha, China
The world is facing two crises at the same time, the economic crisis and the crisis of climate change. It is an interesting time for us; and a great challenge for policy makers, the public and the business sector as well. (more…)
Statement at the UN General Assembly Extraordinary Thematic Dialogue on The World Financial And Economic Crisis And Its Impact On Development, New York
1. The extraordinarily serious global economic crisis has its origins in the developed countries. Developing countries are not responsible, but they are severely affected, and in ways that are worse than the developed countries, as they also lack the means to counter the effects. (more…)
South Centre calls for revamping the global financial architecture.
The financial crisis has shown how dysfunctional the current international financial architecture is to manage the global economy of today, with its myriad of interconnections through which financial turmoil spreads across the world and with its revealed and significant regulatory deficit. (more…)
