Playing with Financial Fire: A South Perspective on the International Financial System
Playing with Fire (PWF) is a continuation of the analysis of the integration of Emerging and Developing Economies (EDEs) into the international financial system which Yılmaz Akyüz has carried out in his roles as senior economist for many years responsible for UNCTAD’s Trade and Development Report and Chief Economist at the South Centre. The treatment covers cross-border financial flows, increased commercial presence of foreign financial institutions in EDEs and their increased participation in their local financial markets as well as policy and regulatory issues. PWF deploys data on major cross-border financial flows on a gross as well as a net basis. This innovative approach facilitates identification of financial stability issues posed by the increased participation of EDEs in international financial markets.
China’s Debt Problem and Rising Systemic Risks: Impact of the global financial crisis and structural problems
The fast expansion of China’s debt, in particular corporate and local government debt, has attracted international attention and has also become a major concern of China’s policy makers. Even though China can tolerate a higher debt level than many other emerging and developing economies owing to the sheer size and other special features of the Chinese economy, systemic risks for financial stability have been rising since the global financial crisis and the cushions built in the past decades to withstand a higher debt level have also been weakened. (more…)
The International Debate on Generic Medicines of Biological Origin
The debate on generic medicines is not new. What makes it different today is that attacks levelled against biological products are couched in ever more “technical” and abstruse language that confuses even the World Health Organization (WHO).
Promoting Sustainable Development by Addressing the Impacts of Climate Change Response Measures on Developing Countries
Response measures arise in the context of developed and developing countries taking actions to combat climate change at global, national and regional levels, such as for the protection and stabilization of the climate, emissions leakages and/or the costs of environmental compliance. They may have unintended and adverse economic and social consequences for developing countries’ economies, most often on the poorest and most vulnerable sectors of those economies.
Access to and Benefit-Sharing of Marine Genetic Resources beyond National Jurisdiction: Developing a New Legally Binding Instrument
This paper examines the underlying principles and main elements of binding and non-binding international instruments relating to access and benefit-sharing of genetic resources. It discusses the gap left by the United Nations Convention on the Law of the Sea and some of the elements that might be considered in developing a new legally-binding instrument on access and benefit-sharing derived from the exploitation of marine genetic resources found in areas beyond national jurisdiction, as mandated by the United Nations General Assembly. (more…)
Intellectual Property in the Trans-Pacific Partnership: Increasing the Barriers for the Access to Affordable Medicines (revised)
Most free trade agreements (FTAs) signed by the United States, the European Union and the members of the European Free Trade Association (EFTA) in the last 15 years contain chapters on intellectual property rights with provisions applicable to pharmaceuticals. Such provisions considerably expand the rights recognized to pharmaceutical companies under the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) established in the context of the World Trade Organization (WTO). (more…)
Intellectual Property, Public Health and Access to Medicines in International Organizations
This South Centre research paper by Dr. German Velasquez describes and analyses the mandate, programmes, strategies, and activities that different international organizations such as WHO, WTO, WIPO, UNCTAD, UNDP, UNAIDS, the UN Human Rights Council, and the UN Secretary-General’s High Level Panel (UNHLP) on access to medicines have undertaken on the subject of access to medicines, intellectual property, international trade rules and human rights.
“Viral hepatitis is an international public health challenge, comparable to other major communicable diseases, including HIV, tuberculosis and malaria. Despite the significant burden it places on communities across all global regions, hepatitis has been largely ignored as a health and development priority until recently”. – WHO, Global Health Sector strategy on viral Hepatitis 2016-2021: Towards ending viral hepatitis
The Financial Crisis and the Global South: Impact and Prospects
The world economy has not still recovered from the effects of the financial crisis that began almost a decade ago first in the US and then in Europe. Policy response to the crisis, the combination of fiscal restraint and ultra-easy monetary policy, has not only failed to bring about a robust recovery but has also aggravated systemic problems in the global economy, notably inequality and chronic demand gap, on the one hand, and financial fragility, on the other. (more…)
The concept of Farmers’ Rights recognized the role of farmers as custodians of biodiversity and helped to draw attention to the need to preserve practices that are essential for sustainable agriculture. This paper examines one particular aspect of such rights, perhaps the most controversial. It deals with the component of farmers’ rights referring to the use, exchange and sale of farm-saved seeds. Although that concept was initially introduced in 1989 with the aim of balancing the rights of farmers as breeders and of commercial plant breeders, a specific reference to the rights relating to seeds was only introduced upon the conclusion of the International Treaty on Plant Genetic Resources for Food and Agriculture (ITPGRFA) in 2001.
Mitigating the Regulatory Constraints Imposed by Intellectual Property Rules under Free Trade Agreements
IP provisions in FTAs may have implications on a wide range of public policy areas. A vast academic literature has addressed the “flexibilities” available under the TRIPS Agreement and the negative impact of FTAs in relation to access to medicines. (more…)