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World trade rules are rigged in favour of the wealthiest countries and their business interest.
At Gleneagles, the G8 leaders said that developing countries should be able to decide their own economic policies - but they took no concrete action to make this a reality.
The World Bank and International Monetary Fund (IMF) - which are essentially controlled by the G8 - insist that poor countries open up their markets, cut public spending and privatise basic services as a condition of receiving debt relief and aid. There is mounting evidence that this forced liberalisation is increasing poverty.
The EU and USA protect their own economies from the harsh side-effects of liberalisation by subsidising their agricultural industries, creating unfair competition and forcing down world prices for basic goods such as sugar, cotton and rice. As most people in developing countries depend on agriculture, subsidised exports from rich countries destroy their ability to earn a living.
Throughout the rest of 2005 MAKE POVERTY HISTORY will be pressing for real progress on the trade demands that the G8 failed to meet:
- the power of developing countries to decide their own economics policies
- an end to damaging export subsidies by 2010
- corporations held accountable for their social and environmental impact.
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