Umet Kerdaş * – (Turkish Ahval) 15.4.2022
It is clear that globalization led by transnational corporations has radically changed social relations, impoverished millions of people, destroyed cultures that had grown up for centuries, threatened environmental health, and destroyed nature. Unfortunately, the information revolution does not change that fact. Dissemination and dissemination of knowledge is unequal. The Internet and cell phones are not yet available to most of the world’s population. This large segment does not have access to information and cannot follow developments. He is just trying to get on with life.
The system created crisis by preserving old institutions with globalization. However, change is still possible. It is possible to create a system that respects justice, equality, democracy and the rights of all living and inhabited beings through the action of citizens around the world. In particular, the bureaucrats, bankers and economists who run the global financial system create significant impacts on the lives of ordinary people through the decisions they make. The restructuring of the institutions of this system, which has an anti-democratic structure, has become mandatory.
It seems impossible for the lagging countries in terms of technical infrastructure, education and capital to enter the big markets. Therefore, while the backward and developed organizations of nation-states activate internal dynamics, such a structure needs to be made globally in order to set some common standards among the people living in the world with these internal dynamics and to impose sanctions on powerful states that do not respect This is globally.
While powerful countries have more than 60% of the vote in the International Monetary Fund and the World Bank, these countries have 17% of the vote in United Nations bodies. And the United States, which has the largest stake in the International Monetary Fund, is the only country that has the right to veto. With the International Monetary Fund headquartered in Washington, this gives the United States disproportionate power.
The newly established International Monetary Fund, linked to the United Nations system and whose General Assembly acts as a parliament, needs a new moral purpose and democratic action. The International Monetary Fund must control the anarchic forces and make facilities available to most of the world’s creatures, and the World Bank must be included in the umbrella of the United Nations and given a structure that achieves its goals on the same moral basis .
As economist Jane Darstow has stated, the world needs a new institution, a global central bank (international exchange bank), which will reduce instability and inefficiency in global financial markets. This bank will not print money, but will create an international reserve so that countries can conduct commercial and financial transactions with their own money. The fact that the dollar has become the main currency of the global economy in the current system creates an unequal system. Even if debtor countries succeed in exports and increase their foreign exchange reserves, speculators consume these reserves.
The WTO should give priority to the goal of increasing economic and environmental security for all people, not to the goal of international trade based on sustainable growth. It must set global environmental standards within the new United Nations system. The WTO should be an organization that implements and oversees these standards within the United Nations system.
As Tony Clark, Member of the Board of Directors of the International Forum on Globalization, points out, monitoring the public interest of international capital should be within the competence of the World Trade Organization. He proposes an alternative investment agreement that would legitimize big business, including alternative investment rules that would stimulate investment for the benefit of local communities and ensure democratic control of capital.
Robin Round, also one of the pioneers of the Halifax Initiative, suggests applying a “Tobin tax” to international financial transactions. Unregulated investment has turned the global economy into a casino where speculators pursue instant profits and results are ignored. For this reason, it is believed that taxes on financial speculation will stabilize world markets and create funds for global development.
Every day, $ 1.5 trillion is traded in international financial markets. 95% of this amount is related to fluctuations in currency values and interest rates. Bets always win, international investment banks win big in this game and most countries and peoples are destroyed. This tax (less than half of 1%), proposed by Nobel Prize-winning economist James Tobin, would also eliminate the appetite for speculation, as speculation takes place in very small margins.
Of course, the redesign of the global system will not be undertaken by the beneficiaries of the system. The task of leading civic initiatives belongs to those who can do it. And the pressure for change will increase when we realize that those who run the global system, especially the economy, are a small minority.
A great movement is needed to unite important social movements in different parts of the world around an axis based on a common goal and determination to eradicate poverty and to ensure lasting global peace, that is, on the basis of man and nature. Unfortunately, the European Union has not been able to prove that it is an initiative that can create such an axis.
What is required is a democratic process in which the UN General Assembly is transformed from an advisory body into a functioning parliament, making it a largely binding decision-making body and making it the executive body of the Security Council. Permanent membership must be removed and passed to elections. And the countries that will be members of this body will serve for 4 years and will graduate from the General Assembly as a precondition for restructuring.
It is clear that globalization can achieve just results only with political decisions taken as a result of the democratic superstructure of the world. With the democratization of the United Nations system, international economic organizations (such as the International Monetary Fund, the World Bank, and the World Trade Organization) should also be included in the democratic system of the United Nations.
Disarmament will be the most important issue in the United Nations system. There is no doubt that disarming permanent members of the UN Security Council is more important than disarming developing countries. It is these countries that sell conventional, biological, chemical and nuclear weapons technology to developing countries.
In this case, the disarmament of powerful states and the directing of the world’s resources towards people and nature will be possible only through the creation of a new democratic structure in the world. The democratization of the United Nations system is important for this.
When it is necessary to intervene in a situation that would pose a threat to nature and humanity on the ground, the UN Parliament will take its decision, the organizations within its structure will be activated and the UN Peacekeeping Force will be able to use the UN. forceful peacekeeping operations in conflict situations and there will be no need for partisan military organizations like NATO.
As cunning, greedy, demanding, and deceptive minds are destroying species other than themselves, will they be able to build a new world order by addressing values such as justice, equality, freedom, aesthetics, and morality?
* Turkish writer