Tit-Bits

TRIPS issues

The UNDP Human Development Report has signaled repeated warnings against the negative consequences of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), particularly on food security, indigenous knowledge, bio-safety and access to vital medicines and health care. The wave of economic and corporate restructurings undertaken in response to an increasingly competitive global market, the widespread dismantling of social security systems and decline of standards in social services all have resulted in unemployment, work insecurity, evictions and homelessness, landlessness, lost livelihoods, harm to health and worsening labor conditions. These conditions lead to violations of core economic and social rights obligations of State for which our policy makers bear civil responsibility.

http://www.hicnet.org/articles.php?pid=1905

IMF QUOTA and Developing Nations

As acknowledged in the recent G-20 Summit at Pittsburgh, it had been the emerging economies which had been instrumental in lifting the developed nations from the abyss of depression. Also acknowledged in the Summit had been the reality that the changed situation requires a global economic restructuring which, in the light of the strong growth in dynamic emerging markets, will correct imbalances that now prevail in favour of developed nations.

The immediate outcome had been the landmark decision at the G-20 Summit to increase the share of IMF quotas of developing countries by five per cent. India, China and Brazil had wanted a seven per cent increase so that developing nations would have wielded control over that body through having 51 per cent of quotas, but vehement opposition by European nations such as Belgium and Holland had resulted in a compromise. Yet the increase in every way reflects the relative weights of IMF members in the world economy, which have changed substantially in view of the growth in emerging markets. India played a leading role in wresting the concessions from the affluent countries. This indicates her growing confidence as an international player.

The Assam Tribune 30 Sep 2009, Editorial.