Daily Pick: 6 questions to improve economic unions and globalization

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By constructing a more transparent framework, economic unions could be in a position to define intelligent trading rules that would benefit local needs. To do this, they need to consider inviting citizens into operations, while assessing the local competences they have at their disposal. This approach would only be successful if conditioned by an objective of shared prosperity combined with a compensation for losers.

#1 How can we build transparency?

Même le Financial Times s’en émeut : « Il est troublant qu’une part significative des revenus gagnés au cours de sa vie par un commissaire puisse provenir d’une entreprise dont il supervisait auparavant les affaires en Europe » (5 mai 2016).

“Even the Financial Times is emotional about it: “It is confusing that a significative part of revenues earned throughout the life of a commissioner could originate from a company whom European legal affairs were previously supervised by that same commissioner.”

Lire plus:La Pantoufle d’or“, Pierre Rimbert, Le Monde diplomatique

#2 How do we build intelligent global rules based on local needs?

Grandes ou petites, les entreprises européennes implantées en Chine ont le moral qui flanche, victimes d’une double peine : au ralentissement en cours dans la deuxième économie mondiale s’ajoute le sentiment, renforcé d’année en année, de pratiques discriminatoires au bénéfice des sociétés locales.

“Whether big or small, European companies operating in China suffer a decrease of enthusiasm, as they undergo a double-issue: to the current world economy slowdown is now added the yearly growing feeling to be discriminated against in favor of local businesses.”

 

Lire plus:Fin de l’âge d’or pour les entreprises européennes en Chine“, Yann Rousseau et Alain Ruello, Les Echos

#3 How do we invite citizens in operations?

Pour Raphaël Hans directeur générale de l’entreprise, «Le financement participatif se place aujourd’hui comme une alternative au financement des banques. Les particuliers peuvent choisir de soutenir le financement de l’économie réelle et le développement des emplois en France et plus particulièrement en région».

As Raphaël Hans, Managing director, explains: “Crowsdfunding is now positioned as an alternative to private funding. Individuals can choose to support real economy finance and the development of French employment, in the region in particular.”

Lire plus:Pour la première fois en France, le crowdlending finance une Entreprise du Patrimoine Vivant“, Entreprendre

#4 Do we have the local competences we need?

The discussion needs to be evidence-based rather than based on what seems right or logical. It seems right and logical to design and deliver social services at the local/community level. But where is the evidence that local government and communities have the required levels of competence, and what can higher levels of government do to help in developing such competence?

Read more:The Future is local, but what about competence?“, Digitalist

#5 How do we “bring greater shared prosperity”?

“And we should stop confusing ends with means: for example, free trade, if well managed, might bring greater shared prosperity; but if it is not well managed, it will lower the living standards of many – possibly a majority – of citizens.”

Read more: “This is what Joseph Stiglitz thinks Europe should do next”, Joseph E. Stiglitz, World Economic Forum

#6 How do we compensate losers?

“It’s only by compensating those losers that we can shape a sustainable, more equitable form of globalization, he argues. But so far, many countries, including the US, have failed to do that.”

Read more:Globalization for the 99%, can we make it work for all?“, Stéphanie Thomson, World Economic Forum

And you, how would you build smarter economic unions?

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