Global Economics

A global economic system that promotes environmental sustainability, human rights and a decent standard of living for all.

Principles

The Australian Greens believe that:

  1. A global economic system that promotes environmental sustainability, human rights and a decent standard of living for all.
  2. There should be a fair and equitable distribution of global wealth.
  3. All peoples in the world have the right to ecologically sustainable economic development.
  4. Global economic systems must be ecologically sustainable, democratic, transparent and accountable.
  5. Global economic systems and institutions must promote and respect human rights and enhance the right of communities to democratically determine their own future and priorities.
  6. Public debt crises in developing countries flow from a number of causes, including gross income inequality between and within countries, and are the responsibility of both debtor and lender nations. Governments and international institutions should lend responsibly to debtor nations in their public interest.
  7. International financial institutions should not force national governments to resolve economic crises primarily through cuts to social and environmental programs.
  8. Global trading rules should promote fair trade to ensure developing countries are adequately and fairly rewarded for their productive output.
  9. International trade agreements should not allow corporate concerns to override environmental and public interests.

Aims

The Australian Greens want:

  1. A global economic system that promotes environmental sustainability, human rights, including the rights of indigenous people and a fair standard of living for all.
  2. Australia to work towards implementing democratic international financial institutions that promote sustainable trade and development. This would require reform to the International Monetary Fund (IMF), World Bank and World Trade Organization (WTO) — or, failing that, their replacement.
  3. The elimination of poverty, an end to the exploitation of children and other vulnerable people, and the promotion of the trade of goods that have been produced through fair trade principles.
  4. Preference to be given to multilateral trade agreements, except where a bilateral trade agreement favours a developing country.
  5. Support for Australia’s membership of financial organisations that promote human rights and environmental sustainability.
  6. The implementation of international financial transaction taxes, on financial instruments (Robin Hood Tax) and currency (Tobin Tax).
  7. The provision of incentives for developing countries to pursue economic development strategies that prioritise the sustainable production of goods and services from local sources
  8. Compliance by Australian companies operating internationally with international human rights, labour and environmental laws and standards.
  9. The creation of an international regulatory environment to govern the operation of transnational companies, tax havens and flags of convenience.
  10. Continued advocacy for fair trade over free trade agreements.
  11. The rejection of trade agreements that include Investor State Dispute Settlement clauses.
  12. The promotion of debt cancellation for least-developed countries when the debt repayment conditions result in increased poverty and social, environmental and economic injustice.
  13. Resistance to the development of international trade regimes that seek to extend the concentration of control over intellectual property.
  14. Reform of international trade agreements to enable national governments to fairly regulate in relation to labour or environmental standards of production, health standards, or other matters of legitimate public interest.
  15. Taxation legislation that secures appropriate tax revenues from transnational corporations, occurring in collaboration with taxation agreement partners and Organisation for Economic Co-operation and Development (OECD) member states.