Brown call to Davos ‘threatens millions’

Brown call to Davos ‘threatens millions’

By agency reporter
27 Jan 2009

The charity War on Want has warned that British prime minister Gordon Brown’s appeal to the World Economic Forum this week threatens to deepen the global economic crisis and cost millions of jobs around the world.

The warning came as Brown announced his agenda for further liberalisation of markets and a new deepening of globalisation at the forum, which opens in Davos tomorrow (Wednesday).

Brown plans to join a record 41 government leaders and heads of state among 2,500 delegates from 96 countries at the forum’s annual meeting in the Swiss mountain resort, which is being seen as a precursor to the G20 summit in London on 2 April.

The prime minister is promoting the resumption of the stalled Doha round of world trade negotiations as a means of opening up new business opportunities for UK financial service companies in emerging economies such as India, Brazil and Chile.

This pursuit of further globalisation and the British prime minister’s resistance to anything but ‘light touch’ regulation of financial markets threatens to exacerbate the crisis already sweeping the world economy, says War on Want.

Revived world trade talks would put millions more jobs in jeopardy by exposing producers in developing countries to overwhelming competition from rich nations’ multinational companies.

War on Want’s Executive Director John Hilary said: “Gordon Brown’s call for even more globalisation threatens working people around the world with disaster. Millions are already facing unemployment and long-term poverty due to the failures of the free market system. It beggars belief that Brown is calling for more of the same.”

Hilary continued: “No country has pressed harder than the UK for the deregulation of financial markets and trade rules. These are the very policies which have caused the current crisis and brought misery to millions. Rather than defending the failed policies of globalisation, Gordon Brown should listen to the growing number of voices calling for a new agenda based on principles of equity and democracy, not corporate greed.”

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