Consumers’ penchant for ethical purchasing is tangibly growing. People are increasingly aware that the international trading system is not conducive to sustainable development. More and more consumers buy Fair Trade products. However, the EU falls short of providing meaningful support to Fair Trade. A new own-initiative report (see reference) of MEP Frithjof Schmidt, adopted unanimously by the development committee of the European Parliament, is an attempt to address these shortcomings in a comprehensive manner. Michael Schmitt gives an overview.
With Fair Trade, the much abused slogan "trade and not aid" has become a meaningful truism. Trade matters, but what matters as much is the quality of trading relations and products. And Fair Trade is all about "quality trade", which is embodied in an unambiguous commitment to high social and environmental standards in production as well as a fair price for producers ... ... this article is reserved for subscribers. Please log in >>> here.
After decades of isolation - imposed by major OECD countries out of concern for the country's human rights violations - Myanmar is emerging as a new darling of the "West" - judging by the accelerating succession of visits by senior officials and gurus. New groups of investors are waiting to enter the country as soon as possible.
Persistent high unemployment, the euro area debt crisis and premature fiscal austerity have already slowed global growth and factor into the possibility of a new recession. Now the United Nations have downgraded significantly its forecasts for the world economy in the next year.
Eastern European states are in for a new round of the crisis. The external control of the banking sector and high reliance on external credit has landed the countries of Eastern Europe in a vulnerable position. Now, credit flows from Western banks are drying up again. Hungary has been the first country in the region to ask for IMF support again.
While the G20 efforts to manage global aggregate demand, exchange rate management and stronger regulation of the international financial sector have not worked out quite as planned, in Cannes the Group was further solidifying its role in directing the system of multilateral institutions.
In November 2011, the German Federal Ministry for Economic Cooperation and Development (BMZ) is celebrating its 50th anniversary.The new Minister, Dirk Niebel of the (neo)-liberal FDP has launched a 'radical change of course'. In the recent edition of the Reality of Aid shadow report the change is analyzed.