Outside there is anguish and fear, insecurity about jobs. It is the sacred duty of the UN system, the World Trade Organization (WTO) and the Bretton Woods Institutions to create reasons to believe in the future and to give people sound reasons to hope.” That was Rubens Ricupero, Secretary-General of the UN Conference on Trade and Development (UNCTAD) 22 years ago. The Brazilian economist was speaking to WTO delegates, many of them heads of government, on behalf of the UN chief to caution them that despite the impressive gains of global liberalisation the world was in turmoil since large numbers of people were not seeing the benefits. The turmoil has increased manifold since then, specially after the US mortgage crisis of 2008 roiled global financial markets and resulted in a contraction of economies.
Today the situation is dire. The COVID-19 pandemic has tested the ability of the world to act in concert to tackle an unprecedented challenge, and found it wanting. The disruption of global supply chains and the growing gravity of the economic downturn have spurred widespread trade protectionism, deepening a trend that set in two years ago. WTO finds trade restrictions by member governments have affected global imports valued at US $747 billion in 2019 alone. The rising uncertainty about market conditions has stalled investment worldwide and its implications for developing countries can be gauged from the World Bank’s projection that an additional 71 million people will fall into extreme poverty.
Denne historien er fra October 16, 2020-utgaven av Down To Earth.
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Denne historien er fra October 16, 2020-utgaven av Down To Earth.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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A SPRIG TO CARE FOR
Punarnava, a perennial herb, is easy to grow and has huge health benefits
DIGGING A DISASTER
Soapstone mining near Dabti Vijaypur village has caused many residents to migrate.
REVIEW THE TREATMENT
Several faecal sludge treatment plants in Uttar Pradesh suffer from design flaws that make the treatment process both expensive and inefficient
MAKE STEEL SUSTAINABLE
As India works to double its GDP by 2030, its steel industry must balance growth with sustainability. By embracing policies like the Steel Scrap Recycling Policy 2019 and adopting green technologies, India is paving the way for a more sustainable future in steel production
Can ANRF pull off the impossible for India?
Anusandhan National Research Foundation is expected to reorient India's innovation goals but funding issues, old mindsets remain a drag
TROUBLED WOODS
Forests are a great bulwark against climate change. But this is fast changing. AKSHIT SANGOMLA travels through some of the pristine patches of the Western Ghats to explore how natural disturbances triggered by global warming now threaten the forest health
BLINDING GLOW
The science is clear: increased illumination has damaging consequences for the health of humans, animals and plants. It’s time governments introduced policies to protect the natural darkness and improved the quality of outdoor lighting.
GROUND REALITY
What happens when the soil loses the ability to grow healthy, high-yield crops on its own?
GM POLICY MUST BE FARMER CENTRIC
On July 23, the Supreme Court of India directed the Union government to develop a national policy on genetically modified (GM) crops for research, cultivation, trade and commerce through public consultation.
Vinchurni's Gandhi
A 96-year-old farmer transforms barren land into a thriving forest in drought-prone region of Satara
