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ALBA Goes Beyond Cooperation, Says Mexican Economist

CUBA, March 3, 2010. -  The Bolivarian Alliance for the Peoples of Our America (ALBA) is an institution that goes beyond cooperation among its member countries as it includes monetary and financial integration, said Mexican economy expert.

Jaime Estay, with the Autonomous University of Puebla spoke about the topic on the third day of sessions of the 12th International Meeting on Globalization and Development Problems underway in Havana.

The academician said ALBA has found solutions to deal with the current world financial crisis generated by a global monetary disorder resulting from the weakness of the US dollar and by policies implemented by the International Monetary Fund (IMF).

Estay pointed out that Latin America is leading national and multilateral actions at regional level to mitigate the negative effects of the crisis on local economies.

The Mexican expert described as inadmissible that Group 20, constituted by industrialized and emerging nations, were entrusted with the responsibility of adopting the measures to overcome the world economic crisis.

G-20 undertook the roll without paying attention to the fact that the UN General Assembly, made up by 192 member countries, was summoned for a meeting to analyze the world situation deal and ended with plans of actions set up.

Estay said G-20 has not touched structural features of the global economy and mentioned as an example of such behavior the fact that the IMF has paradoxically grown stronger lately instead of having disappeared for being one of the leading originators of serious monetary and financial problems.

Likewise, attending Havana’s meeting, Manfred Brenefeld, with the University of Ottawa, Canada, warned that the crisis has driven the world to follow the path to social democracy or fascism in certain countries, politically speaking.

According to the Canadian expert, the most effective and plausible way would be social democracy, but as a prelude to new true socialism, which he said should be credible and possible for the peoples.

Our mission is to make Socialism understandable, Brenefeld said.

With some 1,000 Cuban and foreign participants, the 12th Int’l Meeting on Globalization and Development Problems will run until next Friday, March 5 in Havana. (Cubaminrex - acn)

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