Contents with tag: TNCs
Twenty years since its establishment, the World Trade Organization (WTO) remains one of the most important mechanisms used by monopoly capital to advance neoliberal trade and concentrate wealth at the hands of the richest one percent.
It has been two decades since the establishment of the World Trade Organization (WTO), a successor to the General Agreement on Tariffs and Trade (GATT), which created a multilateral trading system encompassing trade in goods, services, agriculture, and intellectual property.
Twenty years since its establishment, the World Trade Organization (WTO) remains one of the most important mechanisms used by the global monopoly capital to advance neoliberal trade and concentrate wealth at the hands of the richest one percent. By imposing trade rules that empower transnational corporations (TNCs) from rich countries, the WTO serves to keep the vast majority of countries underdeveloped while a tiny minority accumulates more power and wealth.
A legally binding treaty that aims to make transnational corporations (TNCs) accountable for human rights violations is currently under negotiation in a United Nations Working Group.
New free trade deals across regions such as the Transpacific Partnership Agreement, Transatlantic Trade and Investment Partnership, and Trade-in-Services-Agreement, among many others are being negotiated that will have far-reaching implications for peoples in both the global North and South and for the future of the world economy. But these deals will neither benefit the democratic majority nor rescue the world economy in crisis.
The Third Annual United Nations Forum on Business and Human Rights, taking place from 1-3 December 2014 in Geneva, faces a tide of global crises stemming from states’ failure to ensure the protection and respect for human rights.
International advocacy platform Rights for Sustainability (R4S) joined the “People’s March” on the “Global Day of Action” organized to mark the first day of formal negotiations by heads of states in Rio+20, the United Nations Conference on Sustainable Development, now being held in Rio de Janeiro, Brazil.
This year marks the 25th anniversary of the United Nations Declaration on the Right to Development. Adopted by General Assembly resolution 41/128 of 4 December 1986, this Declaration defines such right as "an inalienable human right by virtue of which every human person and all peoples are entitled to participate in, contribute to, and enjoy economic, social, cultural and political development, in which all human rights and fundamental freedoms can be fully realized."