Global Resources

Discussion note on the triple crisis

Publisher: Development Alternatives with Women for a New Era
Publication Date: Jan 2012
The current global crisis is so severe and encompasses so many areas that countries have been forced to coordinate with each other. The question is who has benefited from such coordination? What about the most vulnerable, especially those countries that already faced severe fiscal constraints even before these converging crises? How much have they been helped by the collective actions taken? Sadly, the responses thus far at the international level point to the existence of double standards in all key policy areas – fiscal policy, trade policy, and monetary / liquidity policy. This discussion note by Development Alternatives with women for a New Era (DAWN) draws attention to the challenges presented by a global environment that perpetuates an unequal playing field. It also proposes that countries and people of the South use the crisis as an opportunity for reimagining international finance, trade and monetary systems and architectures that are cognizant of global inequalities and respect policy space for all countries. In particular, the global crisis has highlighted the need for regional (South-South) cooperation and national responses that include inequalities based on gender, race, etcetera. Additional challenges are created by the interconnection between finance, food and climate, which are separately addressed in their distinct “policy silos”. This DAWN discussion note examines the incoherence between trade, environment and gender policies and agreements; as well as what is needed to improve financing development with climate justice and women’s empowerment. This publication concludes by saying that information and training are much needed to better understand all the issues at stake and devise appropriate responses, especially informed advocacy, given the decisive influence of corporate lobbying groups in both trade and environment policy outcomes. [adapted from source]