Former World Trade Organisation director general Pascal Lamy on Saturday said the problem of rising inequality in countries across the globe could be resolved internally.
Internal consensus and efforts are very much needed to alleviate wealth inequality, and in doing so many instruments including taxation and prevention of getting higher returns from wealth could be used, he said.
Lamy was speaking at a public lecture on ‘knowledge to share, planet to care’ organised by the Centre for Policy Dialogue in Dhaka.
He also said the environmental devaluation issue needs global efforts, otherwise it would not work.
CPD chairman Rehman Sobhan chaired the public lecture while its distinguished fellow Mustafizur Rahman was a panellist.
There is little to be done in ensuring fair share for the workers of profits big brands are making from the readymade garment products sourced from countries like Bangladesh, Lamy, who was WTO director general in 2005-13, said while addressing the issue raised by Rehman Sobhan.
He said that he knew about the issue of selling by global brands a shirt at $25 that was sourced at $5.
He said, ‘It’s a market-driven economic system and there is a very little to be done.’
Rather, he said, time has come to protect the consumers and it’s a very tough job compared with that of ensuring rights of the producers.
Lamy, also a special envoy of the French government, is visiting Bangladesh for building support in favour of French’s candidature to become the host country for the Global Expo 2025. Three other countries are also vying for hosting the event.
Speaking about another issue raised by the CPD chairman whether it would be possible to take the climate change issue further in the context of US president Donald Trump’s direct opposition regarding the issue, Lamy said he would have been worried about the US president if the decision was only in the president’s hand.
‘As he is not the sole decision maker, I am not worried,’ he said.
Besides, US enterprises including energy companies have already expressed their intention that they would not change their stance in this regard, he said.
Speaking about the Rohingya crisis, Lamy said that French president had already extended his support to Bangladesh’s stance on the issue.
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