The Organisation for Economic Cooperation and Development (OECD), the body representing the world's richest 30 countries, has predicted that this year economic growth would be as low as 1% and would be only 1.2% next year. At the same time, capitalist economists forecast that global economic growth this year and next would be the worst for 30 years. The great economic recession of the early 21st century is under way.
The World Trade Organisation has recently held its summit. Their aim was to skulk in Qatar in the Gulf of Arabia, as far as they could get from the 'teamsters to turtles' coalition against all that is wrong about capitalism. An important part of their agenda has been the General Agreement on Trade in Services - GATS, due to come into by the end of 2002. But what is GATS and why do we need to fight it?