What is the World Economic Forum?
What is the relationship between the World Economic
Forum and Globalisation?
Who are the Members of the World Economic Forum?
is a term used by economists, the media, and the activist community
to describe the process of enhancing the "Global Economy".
It is also referred to as "Free Trade", or "Neoliberalism".
Globalisation is embodied by global economic institutions, such
as the World Trade Organisation (WTO), the World Bank, and the
International Monetary Fund (IMF).
Globalisation was billed to
the public as a "rising tide that will lift all boats"
by Michael Moore, head of the WTO. But as this system grows,
it must search the globe for ever-cheaper resources and labor,
which usually means the relocation of industry to the "third
Founded in 1944, The World Bank
and the IMF facilitate the Global Economy by loaning Third World
Nations large amounts of foreign currency. Usually these loans
have many "strings attached". These "strings"
tend to pave the way for large multi-national corporations to
move into a country and implement projects which usually hurt
the environment (industrial forestry, mining, dams, etc.) and
people (sweat-shops, non-unionized labor for agriculture and
The World Bank and IMF are also
responsible for collecting on the debts of Third World nations.
Because of the billions in debt that many nations owe, they
can usually not even pay back the interest rates on their loans,
and must take out more loans. The cycle of debt prevents the
third world from ever truly "developing" because it
keeps the labor force desperately poor and willing to accept
any wage, and the natural resources pitifully cheap.
The World Trade Organisation, which
was developed by further liberalising the General Agreement
on Tariffs and Trade (GATT) at
the Uruguay Round in 1995, is the
unelected body, which decides what will happen when one country
has a trade dispute with another country. This is called a WTO
"Tribunal". The WTO’s
agenda is to increase global trade, which means decreasing barriers
to trade. "Barriers to Trade", as defined by the three
members of the Tribunal, can be interpreted as food safety laws
(in the case of hormones in beef, or labeling on genetically
engineered foods) endangered species protection (in the case
against sea turtles and dolphins), or laws which attempt to
protect human rights (in the Massachusetts vs. Burma case).
When the WTO tribunal rules that one country is in violation
of WTO agreements, that country must either overturn it’s law
(i.e.: un-do it, scratch it off the books, nullify it, rescind
it), or consumers, (i.e.: you and me) will pay more when buying
"luxury goods" from overseas because of WTO imposed
tariffs, meant to punish a country for it’s "trade barriers".
In short, the World Trade Organisation
has the authority to undermine legislation, passed by sovereign
Essentially, the WTO, and the "new"
Global Economy, hurt the environment, exploit workers, and disregard
civil society’s concerns. The only beneficiaries of Globalisation
are the largest, richest, multi-national corporations.
is the World Economic Forum?
The World Economic Forum (WEF)
is the "think tank" and driving force behind the Global
Economy. It’s members include the CEOs from the top 1000 multi-national
corporations in the world, academics, trade-ministers from national
governments, and influential business leaders. The WEF was founded
by Klaus Schwab in 1971, as the "European Management Forum",
and was renamed the WEF in 1987 "to reflect its increasingly
global outlook (WEF literature)".
The WEF holds it’s annual
meeting in the small resort town of Davos in the Swiss Alps.
According to the WEF’s literature, this meeting is "now
considered the global summit which defines the political, economic
and business agenda for the year".
The World Economic Forum is an
extremely powerful, unelected and unaccountable body of officials
who are making major decisions about what we, the human population,
will read in the media, what food we will eat, what we will
study in school, where and in what conditions we will work,
Essentially the WEF’s summits,
or meetings, allow the richest and most powerful corporations
in the world to mingle with trade representatives from nations,
and with each other, to make business deals.
is the relationship between the World Economic Forum and Globalisation?
In the WEF literature, it clearly
states that in 1982 "the Annual Meeting in Davos bring(s)
together cabinet members of major countries with heads of international
organisations (such as the World Bank,
IMF, and GATT)…A special Informal Gathering of Trade
Ministers from 17 countries is organized in Lausanne by the
Foundation, which spurs the launch of the Uruguay
With this information from
we can clearly see that the World Economic Forum has historically
played a key role in furthering the process of Globalisation.
It can even be concluded the World Trade Organisation was conceived
and developed by the members of this "special meeting"
are the Members of the World Economic Forum?
The WEF’s members are divided
into _______ key areas: Media, Pulp and Paper, Mining, Textiles,
etc. The WEF’s members come to Davos, and to the many regional
summits, by invitation only.
Some of the members of the WEF
Commonwealth Bank of Australia
Anglo-American Corporation of South Africa Ltd
Bank of America
BP – Amoco
Broken Hill Proprietary Co.
Chase Manhattan Corporation
Colonial Bank Australia
Delta- Galil Industries Ltd.
Gulfstream Aerospace corporation
Indian petro-chemical corpoation
International Paper Company
National Australia Bank
Royal Dutch- Shell
United Technolagies Corporation
Waste Management International
Western Mining Corporation
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