3The present crisis is the consequence of the failure of the present economic world order produced by the Washington Consensus.

The « laisser faire » of market forces, the fierce competition between nations and within nations between has led to the present collapse.

We are witnessing a confluence of inter-related crises and this is driving humanity and ecosystems to the brink of global disaster .

However, we do not see any truly transformative agenda.

The « business as usual » attitude still prevails. Conservative forces are doing their utmost to prevent any significant changes in the world economic order that would threaten their privileges. And they compel the governments of developed nations to stick to neoliberal policies.

The present crisis is worse than that of 1929.

45 millions people at least have been pushed into dire poverty since 2008.

Some 1 billion people suffer from malnutrition and dozens of millions are litterally starving to death.

Thousands of billions of US Dollars and Euros have been mobilized to save the financial world and, especially, those private corporations « too big to fail », thus hampering efforts and diverting resources that could have otherwise been devoted to development, social welfare, education, heathcare…

And now the same financial world is taking control over developped countries to serve their interest

Despite the immense material wealth available on the planet, we are now facing a crisis which is manifold : food crisis, economic crisis, environmental crisis, financial and monetary crisis…

One example : the Amazon rainforest is critical to our global climate ; It regulates weather and rainfall all over the world. It has been called the engine of the global weather system as well as the rain machine and the lungs of the planet. Between 20 to 40 % already degraded significantly because of deforestation. But estimates say that between 40 and 50% is the ecological tipping point where the entire hydrological cycle of the Amazon could begin to unravel and we are close to that point…

 

Conclusion

This is not an economic boost and burst cycle crisis, this is the collapse of the old paradigm based on unbridled market forces, extended deregulations, greed and blind materialism. This is end of the theory of the « trickle down effect ».

We need a « new paradigm », as often stated in meetings at Unctad or within the civil society. So let’s make it new indeed.

Otherwise even our world ecosystem will collapse. What will happen then ?

Will we fall further down, wage more wars for the control of natural resources ? Shall we end up starting nuclear wars ? There are people in the world who are preparing to such eventuality and organizing themselves to survive in the case of such occurrence.

Let’s not fall into that trap, there are other ways to live.

We need to stop the present chaos and law of the strongest by a sustainable and inclusive development. That requires a new holistic approach that entails :

– Food security for all humans

– Economic justice through an intelligent sharing of the world resources

– A predictable and stable monetary order

– A regulated and monitored financial system

– A sustainable consumption of natural resources

We, therefore, need an interrelated plan of global strategies agreed upon by the 198 nations of the world (not G7,G8,G20…), under the auspices of the United Nations system and, in particular, the UN General Assembly.