Global Economic Situation

Part of Oral Answers to Questions — Treasury – in the House of Commons at 10:30 am on 12th February 2009.

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Photo of Kelvin Hopkins Kelvin Hopkins Labour, Luton North 10:30 am, 12th February 2009

The globalised neo-liberal economic model has proved to be inherently unstable, and has brought mass unemployment to China as well as elsewhere in the world. Did my right hon. Friend discuss with the Chinese the possibility of a fundamental reorganisation of the world economy, perhaps on Bretton Woods lines, and did he read Anatole Kaletsky's article in The Times on Monday, calling for what he called a "paradigm shift" in economic arrangements?

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