September 2012

Pascal Lamy: Helping developing countries

WTO News, 25 September, 2012
WTO Director-General Pascal Lamy, in his address to the 59th session of UNCTAD’s Trade and Development Board on 25 September 2012, said that “we must remain focused on our primary objective, a goal that the WTO and UNCTAD share: to help developing countries benefit from the globalized economy.” He added that “the way that goods are produced and traded (today) has implications for how we can best maximize trade’s contribution to growth and development.”

Pascal Lamy: `Multilateralism is struggling`

WTO News, 24 September, 2012
WTO Director-General Pascal Lamy, in welcoming participants to WTOs Public Forum 2012 on 24 September 2012, said: While multilateralism is struggling in almost all spheres of global co-operation, I stand here before you with some optimism. We are after all gathered in the house of trade. An international house that rose out of the ashes of two World Wars and which took some 60 years to create.

Pascal Lamy suggests “essential principles”

WTO News, 21 September, 2012
WTO Director-General Pascal Lamy, in a speech at the Singapore Global Dialogue at the Rajaratnam School of International Studies on 21 September 2012, said that “shared values, multilateralism, subsidiarity, coherence, enforceability, legitimacy: our task in the years to come is to re-invent a system of global governance founded on these elements.”

Slow global growth to hit trade

WTO News, 21 September, 2012
Slowing global output growth has led WTO economists to downgrade their 2012 forecast for world trade expansion to 2.5% from 3.7% and to scale back their 2013 estimate to 4.5% from 5.6%. “In an increasingly interdependent world, economic shocks in one region can quickly spread to others. Recently announced measures to reinforce the euro and boost growth in the United States are therefore extremely welcome,” said WTO Director-General Pascal Lamy.

Pascal Lamy: Global value chains are “binding us together”

WTO News, 19 September, 2012
WTO Director-General Pascal Lamy, in a speech at the WTO-MOFCOM-OECD-UNCTAD Seminar on Global Value Chains in Beijing on 19 September 2012, said that “the high level of import intensity in export production has created an unprecedented level of inter-dependency among countries engaged in supply chains. It is no longer just about exports. Imports are essential to export. It is no longer just about ‘them’. It is about ‘us’. ”

Developed nations slow world growth

The Nation, 13 September, 2012
Global economic expansion is expected to slow this year and next as fiscal austerity and wage compression further weaken growth in developed countries without achieving the expected results of reduced fiscal deficits, job creation and renewed confidence in financial markets, according to a report by UNCTAD.

Income Inequality on the Rise in the US

National Journal, 12 September, 2012
Economic inequality is on the rise, driven by growth in income among the wealthiest Americans, while those of more-modest means saw their earnings stagnate or even decline, says the Census Bureau’s annual report on income, poverty, and health insurance coverage.

Path to sustainable agric financing in Nigeria

The Guardian, 12 September, 2012
For the agricultural sector, successive governments have made serious efforts at making good agricultural policies through schemes, programmes and institutions, they however, have not been able to back them up with adequate budgetary allocation and financing.

UN urges vision for growth and jobs

India Blooms, 11 September, 2012
Opening the General Assembly’s dialogue on meeting international development goals Monday, United Nations Deputy Secretary-General Jan Eliasson called for a broad, sustainable and” far-reaching vision” that aimed not only to overcome the recent global financial crisis, but also to create jobs and protect the environment.