By Professor Neville Duncan

Professor Neville Duncan is Director of the Sir Arthur Lewis Institute for Social and Economic Studies at the University of the West Indies, Jamaica. Here, Professor Duncan shares his thoughts on the failure of global governance and the impact on the Caribbean

The potentially massive changes in the global political economy, which may lead to a great depression, along with dangerous rattles of war in the Middle East, potential oil crises, massive increases in food prices presaging hunger and food scarcity, and water crises leave all current global governance institutions on the cusp of having to undertake radical reform.

Already, the World Trade Organisation needs to be pronounced dead, along with post-Lomé trade and investments. The Enterprise of the Americas has ceased, while small states’ organisations lack effective global structures in relation to both environmental issues as well as their own survival in the world economic system. Virtually all other organisations of immediate interest to the Caribbean are under-funded or almost moribund.  Continue reading →