Rethinking Bretton Woods | Thu, Jun 27, 2013
RBW Project Director Aldo Caliari spoke at the UNCTAD Symposium, held in Geneva on June 24 and 25, 2013.
One of the panels he was part of addressed the role of Southern countries’ financial and monetary cooperation in financing development. The next day he shared a panel with representatives of UNCTAD and the World Trade Organization to discuss impacts on developing countries of engagement in global value chains.
June 24, 4:30 -6:00 pm:
REGIONAL MONETARY AND FINANCIAL ARCHITECTURES: WHAT ROLE IN A POST-2015 DEVELOPMENT AGENDA?
Since the MDGs were agreed at the turn of the century, the strong performance of developing countries and the rise of some of them as donors and major sources of trade demand and investment flows, have reshaped the global economic scene. Strengthening regional and South-South economic cooperation has accompanied those developments. The crisis, prompting calls for reform of the global financial and monetary system, has also opened new space for a redesign that better accommodates the functions of regional monetary and financial mechanisms.
A post-2015 development agenda will need to recognize the contribution of regional financial and monetary arrangements to achieve financial stability and support development efforts. At the same time, the agenda will need to balance such contributions with respect for the different nature of poverty reduction and human development needs developing countries face.
What lessons can be drawn from European experience on regional financial and monetary cooperation? Has regional and South-South monetary and financial cooperation among developing countries progressed since 2000? Can such arrangements avoid the pitfalls of the current Euro crisis and can they contribute to a post-2015 development agenda? To what extent is the current path of reform of the financial and monetary system able to support such regional cooperation? What burden of responsibilities for development finance and poverty reduction is it fair to ask Southern countries to bear, through these mechanisms, in a post-2015 agenda?
Moderator: Hamish Jenkins, NGLS
- Aldo Caliari, Director, Rethinking Bretton Woods Project, Center of Concern
- Heiner Flassbeck, former Director of the Division on Globalization and Development Strategies, UNCTAD
- Pedro Paez, former Minister of Economic Policy Coordination, Ecuador
- Matthes Buhbe, Friedrich Ebert Foundation
June 25, 2:30-4 pm:
TRADE IN VALUE ADDED AND GLOBAL VALUE CHAINS: TELLING MYTH FROM FACT AND FROM WHAT WE JUST DON’T KNOW
In the last few years, especially after the global financial crisis, several organizations have joined efforts to find metrics of trade in value added. Coming up with such metrics could help reposition the debate on trade and development on what really matters: trade’s contribution to development finance and jobs. Simultaneously, though, and even pre-empting the emergence of useful metrics, insertion in global value chains is being promoted by those same institutions as the preferred way to increase value added to trade. This session will examine the claims being made about the benefits of global value chains and critically engage with findings from the OECD, WTO, UNCTAD and others on this matter.
What has been the experience of countries in global value chains? Are these useful or detrimental to countries’ attempts to diversify production and increase domestic value added? How much do we really know about trade in value added and the policies best tailored to increase it in the reality of developing countries? In view of the ensuing post-2015 development agenda, what are the GVCs’ impacts on inequality, poverty and decent work?
Moderator: Bhumika Muchhala,Third World Network
Aldo Caliari, Rethinking Bretton Woods Project, Center of Concern
Richard Bolwijn, UNCTAD
Michael Roberts, WTO
Sarah Montgomery, CAFOD