A Human Rights Based Approach to International Financial Regulatory Standards
By Daniel D. Bradlow
Globalization and information and communication technologies pushed national financial regulators to establish international standard setting bodies (SSBs) which promote non-binding international financial regulatory standards. However, finance inevitably has social and human rights impacts and the SSBs and their members are not meeting their responsibility to account for these impacts in their international standards. This failure means that financial regulators and institutions may underestimate the risks associated with their operations leading to misallocations of credit, less safe financial institutions and less efficient and transparent financial markets. To avoid this problem, SSBs should adopt a human rights approach to standard setting. The benefits of doing so will exceed the costs. (more…)
Considerations for the Effective Implementation of National Action Plans on Antimicrobial Resistance
By Mirza Alas and Viviana Muñoz Tellez
Effective design and implementation of national action plans (NAPs) is critical for the response to the growing challenge of antimicrobial resistance (AMR). This policy brief describes the messages that the South Centre has transmitted to the United Nations Inter-Agency Coordination Group (IACG) on AMR in the context of its public consultation, towards shaping its recommendations that will be submitted to the United Nations Secretary-General in the second half of 2019.
The Causes of Currency Turmoil in the Emerging Economies
By Yuefen LI
Many emerging economies and developing countries are facing strong economic headwinds. Currency depreciation pressure is mounting for some countries. Argentina and Turkey are coping with currency crises, massive capital outflows and hyperinflation. To say their crises are completely self-inflicted is not correct. The exogenous shocks have played an important role. Other emerging economies and developing countries as a whole should be vigilant and try to defend their currencies and maintain financial stability. It is also high time to try to fix the flaws in the international financial system.
Towards the Adoption of a UN Declaration on the Rights of Peasants and Other People Working In Rural Areas
The UN Declaration on the Rights of Peasants and Other People Working in Rural Areas has been constructed by an Open-ended Intergovernmental Working Group over six years of open and transparent negotiations. The text has significant support from members of the Human Rights Council. Accordingly, member States of the Human Rights Council should adopt the Declaration through an upcoming Resolution at the 39th Human Rights Council Session (10-28 September 2018).
Exchange of Information: Indian Experience, Developing Country Implications
By Jahanzeb Akhtar
Exchange of tax-related information between countries is a critical tool for addressing information asymmetries between governments and taxpayers that facilitate tax evasion/avoidance. However, the existing system of information exchange has been essentially designed and implemented by the OECD, without the participation of developing countries. This policy brief thus discusses India’s experience with implementing information exchange for tax and other purposes, with lessons being drawn for other developing countries grappling with base erosion and profit shifting.
US Claims under Special Section 301 against China Undermine the Credibility of the WTO
By Nirmalya Syam and Dr. Carlos M. Correa
The US action to place China in the Special 301 ‘Priority Watch List’ is unjustified and in contravention to the WTO rules. The claims made against China are based on standards self-determined by the Office of the United States Trade Representative (USTR), not on international standards. This is an example of a systemic problem that requires a concerted response. WTO members should unite to firmly oppose the imposition of unilateral measures that undermine the multilateral trading system and the credibility of WTO as a ruled-based institution.
US’ Section 301 Actions: Why They are Illegitimate and Misguided
By Aileen Kwa and Peter Lunenborg
This research paper examines the US’ Section 301 unilateral actions against China, stemming from the US’ concerns over China’s ambitious industrial policies and its rapid technological advancements. It outlines the accusations of the US regarding China’s conditions for technology transfer and what the US sees as overly intrusive Chinese government involvement in investments. It looks in detail at why the US’ actions are in fact illegitimate and misguided. (more…)
US’ Section 301 Actions are Illegitimate and Misguided
On 23rd August, the US Administration imposed yet another set of discriminatory tariffs on China under its Section 301 Trade Act covering US$16 billion of its imports from China. This is in addition to the additional tariffs imposed on 6 July 2018 on US$34 billion of its imports from China. According to the US, these actions are supposedly because of China’s unreasonable or discriminatory practices relating to technology transfer, intellectual property and innovation.
The International Debate on Generic Medicines of Biological Origin
By Dr. Germán Velásquez
The debate on generic medicines is not new. What makes it different today is that attacks levelled against biological generic products are couched in even more “technical” and abstruse language. The high price of biological drugs stems mainly from the introduction of barriers to the entry of generics into the market. In any debate on the feasibility of producing biological generic products identical to the ‘original’ ones, it should be made clear that what are at stake are not identical products but therapeutic equivalents.
The Imperative of Protecting and Respecting Indigenous Peoples’ Rights to Their Traditional Knowledge, Traditional Cultural Expressions and Genetic Resources in the Intellectual Property Rights Regime under the WTO and WIPO
By Victoria Tauli-Corpuz
Victoria Tauli-Corpuz, UN Special Rapporteur on the Rights of Indigenous Peoples and Member of the South Centre’s Board, made a presentation, reproduced below, about ‘The Imperative of Protecting and Respecting Indigenous Peoples’ Rights to Their Traditional Knowledge, Traditional Cultural Expressions and Genetic Resources in the Intellectual Property Rights Regime under the WTO and WIPO’ at the International Conference on the TRIPS-CBD Linkage: Issues and Way Forward, held at the Palais des Nations, Geneva on 7-8 June 2018. The conference was jointly organized by the South Centre, the Centre for WTO Studies, New Delhi and the Indian Institute of Foreign Trade, and co-sponsored by the Permanent Missions of Brazil, India, Indonesia and South Africa to the WTO. (more…)
