By Yash Tandon, Benjamin W Mkapa
Difficult the misdirected regulations of the final 30 years in regards to the South's accountability to improve itself instead of anticipate the North to hold the weight, this book offers replacement strategies and paradigms of improvement for coverage makers and peoples' events on a large range of issues. It invitations readers to "dare to imagine another way" and pay attention to what globalization has become lately.
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Extra info for Development and Globalisation: Daring to Think Differently
The underlying rationale of the Monterrey consensus on FfD was the integra‑ tion of the South (especially the poor South) into the Northdominated globalised economy, and finance for development was in reality finance for globalisation. If development is the objec‑ tive and finance the means, then Monterrey put the cart before the horse. In the political and diplomatic reality of Monterrey, there was, in fact, no discussion on what constituted develop‑ ment. Development was assumed to be based on the Washington Consensus and the Doha ‘Development’ round.
The WTO needs to be radically reformed and adjusted to the harsh reality out there. The WTO is about the only organisation (besides the Security Council of the United Nations) that has teeth. The WTO can bite. This – the enforcement pillar of the WTO – needs to be critically reviewed. Has it really brought gains of development for the 42 2 RESTRUCTURING GLOBAL GOVERNANCE global poor? Why was the WTO given teeth in the first place, while its predecessor, the GATT, had none? This is even more critical in the present conjuncture when its second pillar – the ideological pillar – is now fully discredited.
Even as the relatively few wealthy countries of the South are partially ‘decoupling’ from the North, the majority of their poorer sister nations are ‘recoupling’ with the North. Just as some of the bigger countries in the South are getting wealthier, their poorer brethren in the South are getting neocolonised. Is there a connection between the two aspects of this double paradox? Is it the case that just as the older richer nations of the world are losing out, relatively speaking, to some of the new richer nations of the South, those in the North have no choice but to further control whatever is left of the former colonies and dependencies of the South?