Last Saturday I attended in York the AGM of Global Justice Now (GJN), fancy new title of the World Development Movement (WDM) of which I've been a member and supporter since its inception in the 1960s.
One of the speakers in the "workshop" sessions which followed the meeting was Jason Hickel, author of "The Divide". Thankfully he kept his "Powerpoint" presentation down to one slide, which made the information it gave all the more telling.
Here's a summary:
Annually the "Rich North" transfers around $130bn to the "Poor South" in Aid.(of which the UK's contribution is around $30bn).
Annually the "Rich North" sucks out of the"Poor South" as follows:
- $60bn in patent licenses as a result of TRIPs;
- $200bn in interest payments;
- $480bn in repatriated profits (a greater amount that FDI);
- $875 in trade mis-invoicing (GFI);
- $875 in transfer pricing;
- $700 in lost export revenues (through WTO rules):
- 571bn through climate change (CVM);
- $2.5trn in "unequal exchanges."
Or to out it another way, international trade works very well for international conglomerates, their directors and shareholders, and less well for people of poorer countries. There needs to be a change, and GJN is one of the campaigning organisations working towards one.
All power to our elbow.
You can obtain more information and join the campaign via: http://www.globaljustice.org.uk/
We may even bribe you with a free copy of the book
TRIPs: Agreement on Trade-Related Aspects of Intellectual Property Rights
FDI: Foreign Direct Investment
GFI: Global Financial Inequality
WTO: World Trade organisation
CVM: Climate Vulnerability Monitor