Martin Khor
Part of a Triple Crisis series leading up to the Nov. 11-12 G-20 meetings.
Triple Crisis blogger Martin Khor published the following opinion article on the crucial financial reform issues left out of Thursday and Friday’s G-20 agenda.
The G-20 leaders are meeting at a moment of new turmoil in the global economy. Yet important structural factors that underlie the renewed crisis are absent from the agenda of the G-20 summit in Seoul.
The hopes of a rapid global economy recovery have recently been dashed by the sovereign debt problems in several European countries, the gyrations in currency exchange rates, volatility in capital flows, and the war of words over “competitive devaluations”.
A new South Centre report argues these recent problems reflect the lack of international mechanisms to prevent financial crises that now threaten to spill over into the trading and economic systems.