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Towards a Global Democracy [en]
9 January 2004

The only thing worse than a world with the wrong international institutions is a world without international institutions at all. Without a global trade organisation, there is no opportunity for the poorer nations to bargain collectively: they will be picked off one by one by Europe and the US. Already the European Union is forcing weaker nations to agree to bilateral trade deals, which are even more exploitative than the conditions laid down by the WTO. Without a global bank, the poorest nations cannot borrow cheaply or be protected from bankruptcy.



 

The purpose of the existing organisations, designed or captured by the EU and the United States, is to rip open the lives and economies of the poor so that the rich can prey upon them, but that does not mean that the answer is no international bodies. It means we must have democratic bodies, in which the majority world has the majority voice, whose purpose is to transfer wealth and power from the rich world to the poor world. In other words, rather than succumbing to calls for unilateralism, Europe’s radical thinkers must work to overthrow the global empire of corrupt institutions and replace it with a global democracy.

Alternative proposals

A directly elected World Parliament, which holds the other international bodies to account.A reformed United Nations: the Security Council is scrapped and its powers are vested in a democratised General Assembly.The replacement of the International Monetary Fund and the World Bank with an International Clearing Union, whose purpose is to prevent the accumulation of trade deficits and debt.A Fair Trade Organisation, which permits poor nations but not rich ones to protect their new industries, and which licenses corporations, forbidding them to trade internationally unless they are trading fairly.

Implementation

The poor nations have a powerful weapon which they have never used in this way: the threat of a sudden collective default on their $2.2 trillion of debt, unless the rich nations give them what they want. The purpose is the sow panic innthe financial markets, forcing the banks to lobby their own governments on behalf of the poor world. This must be backed by massive solidarity between campaigners in the North and the South.






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ORGANISATIONS
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SPEAKERS
- MONBIOT Georges
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THEMES
- INTERNATIONAL FINANCIAL INSTITUTIONS
- WTO
- DEMOCRACY
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COUNTRIES/REGIONS
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