Lula: World needs new economic order focused on production

Davos, Switzerland - The world needs "profound and complex changes," including a move to an economic model that favors production, according to a speech Friday by Brazilian President Luiz Inacio Lula da Silva. As Lula was ill and unable to attend the World Economic Forum in Davos, his address was read out by Brazil's Foreign Minister Celso Amorim.

The financial crisis has "demonstrated that it is necessary to promote a deep change in the economic order, favoring production, no speculation," the speech said.

"Clear regulation is needed, so that absurd and excessive risks can be avoided."

He said Brazil's economic success in recent years, including its relative strength through the last 18 months of global economic downturn, was brought about through reforms that also included social programs.

Lula bemoaned "absurd wars" in the world, and the failure to reach more concrete environmental targets, in a speech laced with emotive rhetorical questions.

"How many Haitis will it take for us to stop seeking late remedies and improvised solutions in the heat of remorse?" Lula asked in the text of the speech to the some 2,500 business and political leaders attending the annual meet in the Swiss mountains.

Source: Earth Times.
Link: http://www.earthtimes.org/articles/show/306597,lula-world-needs-new-economic-order-focused-on-production.html.