Rethinking Bretton Woods | Wed, Feb 27, 2013
US-based organizations urged US President Barack Obama to undertake a formal review of the administration’s trade and investment policies to ensure that they increase international financial and economic stability and are consistent and coherent across the administration’s policies on trade, development, and financial system reform.
The letter says that the US Administration has worked domestically to re-regulate the financial sector to promote stability and has been a leader in international processes aimed at enhancing global financial regulatory cooperation. “Given the historic shift in global thinking with respect to capital controls” the letter argues, “this is a critical moment to ensure that U.S. trade and investment policies support developing countries’ ability to implement these policy tools to prevent and mitigate financial crises.”
Demands on other areas asked the US Administration to undertake a review of investor rights and investor-state enforcement, as well as transparency of trade and investment agreement negotiating process.