RE/23011-is

On 9 October 2011, the Department of Economic and Social Affairs of the United Nations (DESA) has launched the print edition of the World Economic and Social Survey 2011. The book presentation was held on the occasion of the Annual Meeting of the World Public Forum "Dialogue of Civilizations" (WPF-DC) in Rhodes, Greece. In his keynote speech "Are Current Mechanisms of Globalization in Conflict with Sustainable Development?," Mr. Manuel F. Montes, Chief of the Development Strategy and Policy Analysis Unit (DESA), provided a comprehensive critique of the global economic system.

The book launching and debate were part of the session on "The Dialogue Model of International Relations" under the chairmanship of Prof. Hans Koechler, President of the International Progress Organization and member of the International Co-ordinating Committee of the WPF-DC.

In his presentation, Mr. Montes referred to the dominant economic system as "main driver of environmental destruction" and said that globalization has maintained a "two-track world," with increasing inequality not only at the international, but also at the domestic level. He explained that, under the conditions of globalization, the capital flows from the developing to the industrialized countries have further increased. In Mr. Montes' analysis, the ever growing imbalance is one of the global effects of economic liberalization. He said that the rise of the financial versus the real sector has made the international system extremely unstable, and called for a stronger role of the state. In his view, the finance-dominated global régime has led to a socio-economic constellation that is not sustainable.

Commenting on the World Economic and Social Survey and on the role of the United Nations in addressing the global challenges, Prof. Koechler said that time has come for the UN to revisit the principles affirmed by the member states of the General Assembly in their 1974 Declaration on the establishment of a "New International Economic Order." He explained that meaningful dialogue at the political, religious and cultural levels is to be based on mutual respect and the recognition of equal rights, which, in turn, requires a just and balanced system of economic exchange.