After the Meltdown

Advancing Living Standards around the Globe in the Wake of the Financial Crisis

December 12, 2008, 9:30am - 11:00am

The global meltdown has brought home the interconnectedness of the world's finance and trading systems. Failing financial institutions, frozen credit, volatile stock markets, mounting job losses, and painful cuts in wages are impacting the lives of struggling citizens worldwide.

Combined with growing skepticism about globalization, President-elect Barack Obama faces a challenging backdrop to the formulation of his international economic policy. The incoming administration will need to determine the level and objectives of development assistance, trade priorities, an approach to reform of international financial institutions, and a strategy to advance the Decent Work Agenda. Ideally these must be knitted together into an integrated economic policy. The new administration must also work together with progressive partners at home and abroad to address these daunting challenges, drive economic recovery, and strengthen the world economy's virtuous circle of mutually reinforcing gains in living standards.

Discussing these issues, UNDP Secretary General Kemal Dervis and ILO Director-General Juan Somavia will join CAP's Senior Fellow and World Economic Forum Managing Director, Richard Samans.

CAP is grateful to the Heinrich Böll Foundation for their support of this event.