Diego Alejo Vazquez Pimentel, Max Lawson, and Inigo Macias Aymar
Publication Date:
01-2018
Content Type:
Policy Brief
Institution:
Oxfam Publishing
Abstract:
Last year saw the biggest increase in billionaires in history, one more every two days. This huge increase could have ended global extreme poverty seven times over. 82% of all wealth created in the last year went to the top 1%, and nothing went to the bottom 50%.
Dangerous, poorly paid work for the many is supporting extreme wealth for the few. Women are in the worst work, and almost all the super-rich are men. Governments must create a more equal society by prioritizing ordinary workers and small-scale food producers instead of the rich and powerful.
Topic:
Gender Issues, International Trade and Finance, Food, Health Care Policy, Inequality, Economic Growth, Tax Systems, and Supply Chains
The Queen 'Mamohato Memorial Hospital, which opened in October 2011, was built to replace Lesotho's old main public hospital, the Queen Elizabeth II (QE II) Hospital, in the capital, Maseru. It is the first of its kind in Africa – and in any low-income country – because all the facilities were designed, built, financed, and operated under a public – private partnership (PPP) that includes delivery of all clinical services. The PPP was developed under the advice of the International Finance Corporation (IFC), the private sector investment arm of the World Bank Group. The promise was that the PPP would provide vastly improved, high-quality healthcare services for the same annual cost as the old public hospital.
Topic:
Economics, International Cooperation, International Organization, International Trade and Finance, and Health Care Policy
The failure of the current pharmaceutical research and development (R) system is revealed by the World Health Organization (WHO) alert about the lack of effective medicines to address antimicrobial resistance, and the absence of a treatment for the deadly Ebola virus that is ravaging communities in West Africa at the time of writing.
Topic:
Health, International Trade and Finance, and Health Care Policy
Since 2000, nearly 800 large-scale land deals covering 33m hectares globally – an area four times the size of Portugal – have been recorded. This land has shifted from smallholder production, local community use, or the provision of important ecosystem services, to commercial use, driven in part by the rising demand for large-scale crops like sugar.
Topic:
Agriculture, Development, Economics, International Political Economy, International Trade and Finance, and Markets
With the outlook for exports subdued and investment weak, we expect industrial output growth to slow further in 2012H1. But consumption is taking up the slack and fiscal policy is set to be supportive. As a result, we only expect a relatively modest slowing in growth in 2012 to 8.4% from 9.2% in 2011. But with house prices still falling in December, we remain concerned about the risk of a sharp slowing in the property market leading to strains on local government finances and a hard landing for growth, particularly with the external environment weak. However, central government finances are strong and fiscal transfers could provide a significant cushion in the event of a property bust.
Topic:
Communism, Economics, Government, International Trade and Finance, and Global Recession
The first anniversary of the European External Action Service (EEAS) finds the European Union (EU) in the midst of an economic, financial, and identity crisis that has aggravated the ongoing decline in Europe's stature on the global scene as new political and economic actors emerge. The new diplomatic service provides the EU with an opportunity to address its shortcomings in foreign policy by bringing greater coherence to external policy making; by enhancing consistency across EU instruments; and by adopting a more comprehensive and strategic approach to global challenges.
Topic:
Foreign Policy, Diplomacy, Economics, and International Trade and Finance
In 2010, the G20 committed themselves to promoting inclusive and sustainable economic growth. They argued that 'for prosperity to be sustained it must be shared' and also endorsed 'green growth', which promises to decouple economic expansion from environmental degradation. But G20 countries have some way to go to match this commitment. This paper assesses their record, and points the way forward.
Topic:
Climate Change, Economics, International Organization, International Trade and Finance, and Poverty
This Briefing for Business is intended for senior managers in global and national companies, especially those retailing and producing food and fast-moving consumer goods, and which source goods or labour in developing countries. Although many companies already do much to protect human rights in their operations and value chains, there is more that they can and must do.
Topic:
Gender Issues, Human Rights, International Trade and Finance, and Markets
Guns are useless without bullets. An Arms Trade Treaty (ATT) that does not control ammunition will not achieve its purposes. Ammunition is bigger business than weapons, with twelve billion bullets produced each year – nearly two bullets for every person in the world. The global trade in ammunition for small arms and light weapons is worth more than the trade in firearms and light weapons themselves: an estimated $4.3bn a year. An ATT that does not cover ammunition will fail to achieve what it has set out to do – that is, to help prevent human suffering, armed conflict, and serious violations of international humanitarian law and human rights. Several countries are arguing that ammunition should be excluded from the ATT. Some of these countries say the sheer volume of trade makes it too difficult to monitor. This would be a colossal mistake. There are already several ways to track ammunition transfers. Inclusion in the ATT would significantly strengthen these mechanisms and the resolve to implement them. Failure would undermine what best practice already exists.
Topic:
Arms Control and Proliferation, Globalization, Human Rights, Human Welfare, International Law, International Trade and Finance, and Markets
Modern weapons and military equipment cannot be made or maintained without parts and components that are sourced and traded around the world. Without regulating this trade alongside the trade in complete weapons, it will be impossible to reduce the impact of irresponsible arms transfers on human rights, security, and development. Between 2008 and 2011, the global trade in parts and components was worth at least $9.7bn. This vast stockpile of weapons parts ranged from high-end components for aircraft to parts for small arms and light weapons. Weapons are assembled from components sourced from all corners of the world–frequently from countries without any effective arms transfer controls. Without global regulation of the trade in parts and components, it will be impossible to effectively regulate any part of the arms trade, as companies will be able to circumvent the rules by shipping weapons in pieces from multiple countries around the globe. The Arms Trade Treaty represents a unique opportunity to regulate the specialised parts and components used in the arms trade and, indeed, will be fatally flawed if it does not do so.
Topic:
Security, Defense Policy, Arms Control and Proliferation, Globalization, International Trade and Finance, Treaties and Agreements, and Weapons of Mass Destruction
A robust global Arms Trade Treaty (ATT) is desperately needed to stop the irresponsible transfer of arms that fuels: Atrocities – like those in Syria, where more than 8,000 people, mostly civilians, have been killed since the crackdown on protests began in early 2011;Armed violence and conflicts – which is estimated to cost Africa alone $18bn a year; Corruption in the. defence industry – which costs $20bn a year, and which undermines the competitiveness of UK exporters.
Topic:
Conflict Prevention, Defense Policy, Arms Control and Proliferation, International Trade and Finance, Non-Governmental Organization, and Weapons of Mass Destruction
This issue briefing highlights the increasing use by development finance institutions of financial intermediaries to channel their funding. It identifies features of this lending and the implications for affected communities' access to land and resources. It also provides recommendations for addressing concerns related to these investments.
Topic:
Development, Economics, International Trade and Finance, Markets, and Natural Resources
Food prices are a matter of life and death to many in the developing world. Financial markets that should be helping food growers and processors to manage their risk and set prices have become a potential threat to global food security. Deregulated and secretive agricultural commodity derivatives markets have attracted huge sums of speculative money, and there is growing evidence that they deliver distorted and unpredictable food prices. Financial speculation can play an important role to help food producers and end users manage risks, but in light of the harm that excessive speculation may cause to millions, action is required now to address the problem. This briefing explains what has gone wrong with financial markets and what could be done to fix them.
Topic:
Security, Agriculture, International Trade and Finance, Markets, and Food
This paper is intended for senior managers in all companies that source goods from developing countries. Examples are drawn mainly from the garment and agriculture industries but the learning is transferable to other industries, including electronics, construction, and services.
Topic:
Development, Economics, International Trade and Finance, Markets, Poverty, and Labor Issues
Incorporating smallholders into the supply chain allows a company to tell consumers how their purchasing choices can improve the lives of men and women farmers. Companies that incorporate smallholders equitably into their supply chains – and communicate their action through their brands – can capture new customers and gain greater loyalty from existing ones.
Topic:
Development, Economics, Emerging Markets, International Trade and Finance, Third World, and Food
Multilateralism is central to the global effort to overcome poverty and inequality. All countries stand to benefit from the stability and confidence that a rules-based global trade system can provide. Developing countries stand to benefit most, as they lack the economic and political power to pursue their demands outside such a system.
Topic:
Development, International Trade and Finance, Markets, and Third World
The cocoa tree is an important source of income for millions of farming families in equatorial regions. Cocoa originates in the river valleys of the Amazon and the Orinoco in South America. Its discoverers, the Maya people, gave it the name 'cocoa' (or 'God's food'). Cocoa was introduced to Europe in the fifteenth century. Cocoa imports were heavily taxed, and as a result it was consumed as a drink only by the wealthy. Investment from Great Britain and The Netherlands, combined with the launch of the chocolate bar in 1842 by Cadbury, resulted in a greater demand for chocolate. This led to the gradual expansion of cocoa production, spreading to Africa in 1870.
Topic:
Economics, Globalization, International Political Economy, International Trade and Finance, Markets, and Poverty
Political Geography:
Britain, Africa, Europe, South America, Netherlands, and Amazon Basin
Global food prices are up 83 per cent compared with three years ago. The resulting food price crisis constitutes an unprecedented threat to the livelihoods and well-being of millions of rural and urban households who are net food buyers. Around the world, Oxfam International and many of its partners have seen soaring prices force people to eat less food or less nutritious food and drive poor households to cut back on health care, education, and other necessities. Women and children's nutritional levels are particularly vulnerable, as women often put men's consumption before their own.
Topic:
Agriculture, Development, Economics, Humanitarian Aid, and International Trade and Finance
The year 2008 is halfway to the deadline for reaching the Millennium Development Goals. Despite some progress, they will not be achieved if current trends continue. Aid promises are predicted to be missed by $30bn, at a potential cost of 5 million lives. Starting with the G8 meeting in Japan, rich countries must use a series of high-profile summits in 2008 to make sure the Goals are met, and to tackle both climate change and the current food crisis. Economic woes must not be used as excuses: rich countries' credibility is on the line.
Topic:
Agriculture, Climate Change, International Political Economy, International Trade and Finance, and Poverty
When trade ministers from 35 countries gather in Geneva at the World Trade Organization [WTO] for what is being billed yet again as a last-ditch attempt to forge a Doha trade deal, they will be forced to meet an unwelcome guest: the 2008 US Farm Bill. With a host of newly bolstered subsidies that will hurt farmers in developing countries, as well as higher farm payment rates, squeezing the new Farm Bill into the 'boxes' defined under existing WTO obligations will be a remarkable trick. That speaks poorly about the willingness of the US to accept new disciplines on agricultural subsidies, and demonstrates that the US Congress is unwilling - thus far - to take the necessary steps for a new trade agreement that would prioritize development.
Topic:
Agriculture, International Organization, International Trade and Finance, Markets, and World Trade Organization
Europe is currently negotiating trade agreements with 76 countries in Africa, the Caribbean and the Pacific (ACP). These so-called Economic Partnership Agreements (EPAs) would create a free trade area between these countries and Europe.
Topic:
International Trade and Finance and Treaties and Agreements
The International Coffee Agreement (ICA) establishes the only dedicated intergovernmental forum for coffee-related matters: the International Coffee Organization (ICO). The ICO brings together various stakeholders—including coffeeimporting and coffee-exporting countries, the private sector, and nongovernmental organizations (NGOs)—to discuss, negotiate, and cooperate on shared strategies and policies regarding the global coffee economy.
Topic:
Agriculture, International Cooperation, International Trade and Finance, Markets, and Treaties and Agreements
Mali is one of the world's poorest countries, with over two-thirds of the population – mostly in rural areas – living on less than a dollar a day. Mali is also the second largest cotton producer in sub-Saharan Africa after Burkina Faso. Cotton production is generally heralded as a success story in much of West and Central Africa, providing a critical development strategy for poor African countries such as Mali and enabling both governments and farm households to access income. The World Bank, International Monetary Fund (IMF), and the wider donor community have also recognised the importance of cotton in reducing poverty and supporting the country's economy. However, in recent years, much of this success has been undermined by depressed and volatile cotton prices, partly as the result of unchecked US subsidies, and the downward trend of commodity prices.
Topic:
Agriculture, International Organization, International Trade and Finance, Treaties and Agreements, and World Trade Organization
The quiet advance of trade and investment agreements between rich and poor countries threatens to deny developing countries a favourable foothold in the global economy. Powerful countries, led by the USA and the European Union (EU), are pursuing regional and bilateral free trade agreements with unprecedented vigour. This is happening without the fanfare of global summitry and international press coverage. Around 25 developing countries have now signed free trade agreements with developed countries, and more than 100 are engaged in negotiations. An average of two bilateral investment treaties are signed every week. Virtually no country, however poor, has been left out.
Topic:
Emerging Markets and International Trade and Finance
The WTO Hong Kong ministerial meeting was a lost opportunity to make trade fairer for poor people around the world. Rich countries put their commercial interests before those of developing countries. Small progress in agriculture was more than cancelled out by anti-development texts in services and industrial tariffs. Most of the difficult decisions were put off to a further meeting in early 2006.
Topic:
International Relations, International Trade and Finance, and World Trade Organization
Cotton is an important crop for some of the poorest areas of China, and millions of cotton farmers depend on it for their livelihoods. Cotton's high economic returns have helped, and continue to help, bring many farmers in the poor western provinces of Gansu and Xinjiang out of poverty. Cotton production is not only essential to the development of China's textile industry; it is also a labour-intensive crop that demands a large workforce in rural areas. It has thus contributed to easing the pressures of rural underdevelopment in China, at a time when the country is faced with seriously high levels of surplus labour and lack of development potential in rural areas.
Four years on, the Doha Round looks increasingly unlikely to deliver on its promises to the world's poor. Rich countries have sidelined developmjent concerns and insisted on, among other conditions, the "blood on the floor" rule, i.e. obtaining economically painful concessions from all countries, including poor ones. In agriculture, trade rules look set to remain stacked against developing countries and poor farmers. Talks on industrial tariffs could jeopardise the industries of poor countries. If the rich countries fail to significantly improve their offer at the WTO ministerial meeting in Hong Kong in December 2005, developing countries should not be expected to sign on to a bad deal.
Topic:
Development, Globalization, International Trade and Finance, and World Trade Organization
Viet Nam is entering its final stages of accession negotiations. Although it is unlikely that it will achieve the goal of joining the World Trade Organisation (WTO) by the time of the Hong Kong Ministerial Conference in December, negotiators want a swift end to the process. Analysis of progress madebetween the two Working Party meetings of April and September 2005 reveals that Working Party members are continuing to demand further concessions from the Vietnamese negotiators. If agreed to, these concessions could have potentially damaging consequences for Viet Nam's ability to safeguard the livelihoods of its poorest people.
Topic:
Globalization, International Trade and Finance, and World Trade Organization
The NAMA negotiations are heading towards a development disaster. If the developed countries have their way and force the developing countries to massively cut (or even altogether eliminate) industrial tariffs on a line-by-line basis in an irreversible manner, the future prospect of industrial development, and therefore economic development, in today's developing countries is truly bleak.
Topic:
Development, Globalization, International Trade and Finance, and World Trade Organization
The WTO's current NAMA (non-agricultural market access) negotiations will not lead to a pro-development outcome. Developed countries are demanding excessive opening to imports which, if agreed, could destroy local businesses and jobs in developing countries without bringing compensating economic gains. Poor-country governments will face balance of payments problems, loss of tax revenue, and downward pressure on workers conditions and rights, and their future industrial development prospects will be undermined.
Topic:
Development, Globalization, International Trade and Finance, and World Trade Organization
Green Box subsidies, by definition of the World Trade Organisation (WTO), are not allowed to distort trade. This is why, under the terms of the Agreement on Agriculture (AoA), countries may provide as many Green Box subsidies as they like. ActionAid, CIDSE, and Oxfam believe, as this briefing note will show, that the EU and the USA are using this provision to continue to give support that is manifestly trade-distorting, thereby causing serious damage to farmers in developing countries. At least $40bn of Green Box payments annually are likely to be trade-distorting and therefore break WTO rules.
Topic:
Development, Globalization, International Trade and Finance, and World Trade Organization
As the poorest continent on earth, Africa needs debt relief, aid, and trade to help it to alleviate poverty and achieve sustainable development. Unfortunately, unfair trade rules and supply constraints impede Africa's capacity to trade. As a result, it captures a mere one per cent of world trade.
Topic:
Development, International Trade and Finance, and World Trade Organization
This paper aims to make the case for a complete overhaul of the way in which Least-Developed Country (LDC) applicants hoping for accession to the World Trade Organisation (WTO) are treated by the WTO itself, and by the member countries that elect to join the working party dealing with the accession application.
Topic:
Development, Globalization, International Trade and Finance, and World Trade Organization