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14 October, 2001
The main theme of the IMF's World Congress next month in Sydney, Australia, is manufacturing, sustainable growth and solidarity.
Manufacturing, I believe, will remain central to the economy of a country.
Globalisation today, which is synonymous with deregulation and liberalisation, has actually led to a greater concentration of power in the hands of a few transnational companies (TNCs), rather than being an instrument for the creation and equal distribution of decent jobs and wealth throughout the world.
Instead of focusing on creating employment, TNCs transfer manufacturing jobs from one country to another, to save on costs and pay higher dividends to shareholders. These jobs are shifted to places where the violation of human and trade union rights is endemic and regulations for environmental protection are very poor or non-existent. If the globalisation process continues along this same path, confrontation will be inevitable and will result in growing social turmoil.
A post-industrial society can exist only if it manages to produce and distribute in a fair manner useful products and services for the entire world population. Manufacturing needs capital, natural resources and a skilled, educated workforce. Eradicating poverty and misery implies that all these resources are used in a planned, coordinated, fair and efficient way - which is not the case today.
Sustainable growth is indispensable for the development of the manufacturing industry. It requires new thinking and an alternative to the present economic models, and the trade union movement has indicated how this can be made possible at a worldwide level. In 1994, the International Metalworkers' Federation discussed and published its first alternative economic programme.
But, now, we must go further and indicate the direction we want to take, and solidarity is our response to globalisation. In the IMF's new Action Programme, which will be discussed by the Congress in Sydney, we underline three major strategies:
The world we want is a world of peace, democracy and respect for human and trade union rights. These values are the prerequisite for all economic and social development; they are not negotiable. We have fought for them throughout the entire history of our trade union movement, and we are prepared to continue this fight anywhere and everywhere in the world.
Manufacturing, I believe, will remain central to the economy of a country.
Globalisation today, which is synonymous with deregulation and liberalisation, has actually led to a greater concentration of power in the hands of a few transnational companies (TNCs), rather than being an instrument for the creation and equal distribution of decent jobs and wealth throughout the world.
Instead of focusing on creating employment, TNCs transfer manufacturing jobs from one country to another, to save on costs and pay higher dividends to shareholders. These jobs are shifted to places where the violation of human and trade union rights is endemic and regulations for environmental protection are very poor or non-existent. If the globalisation process continues along this same path, confrontation will be inevitable and will result in growing social turmoil.
A post-industrial society can exist only if it manages to produce and distribute in a fair manner useful products and services for the entire world population. Manufacturing needs capital, natural resources and a skilled, educated workforce. Eradicating poverty and misery implies that all these resources are used in a planned, coordinated, fair and efficient way - which is not the case today.
Sustainable growth is indispensable for the development of the manufacturing industry. It requires new thinking and an alternative to the present economic models, and the trade union movement has indicated how this can be made possible at a worldwide level. In 1994, the International Metalworkers' Federation discussed and published its first alternative economic programme.
But, now, we must go further and indicate the direction we want to take, and solidarity is our response to globalisation. In the IMF's new Action Programme, which will be discussed by the Congress in Sydney, we underline three major strategies:
- a special tax on capital transactions aimed at speculation (the Tobin tax);
- a reform of international financial institutions such as the World Bank and International Monetary Fund, forcing them to endorse economic policies based on:
- employment creation,
- creation of comprehensive social safety nets,
- improvement of educational opportunities, with special emphasis on girls,
- elimination of child labour;
- cancellation of the external debt for poor countries.
The world we want is a world of peace, democracy and respect for human and trade union rights. These values are the prerequisite for all economic and social development; they are not negotiable. We have fought for them throughout the entire history of our trade union movement, and we are prepared to continue this fight anywhere and everywhere in the world.