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For decades our political and financial systems have been run in line with the goals of globalisation. When globalisation really picked up steam free market trade was presented as a panacea for stagnant growth that would benefit all. Through movements including Occupy and Los Indignados in the wake of the 2008 global financial crisis, people the world over spoke up to say “the system is not working, and I have been left behind”. Today even the most respected economic and financial bodies are starting to echo these concerns – the Organisation for Economic Co-operation and Development and the International Monetary Fund to name just two.

Earlier this month the European Commission added its voice to the critique of unbridled globalisation and free trade policies. In its reflection paper on ‘Harnessing Globalisation’, the Commission highlighted some of the challenges these policies bring with them. One such challenge is cost competitiveness with parts of the world with lower social and environmental standards, leading to factory closures, job losses or downward pressure on worker pay and conditions. This exact issue has been a key narrative in the presidential campaigns of Donald Trump and Marine Le Pen, and whether one agrees or not it cannot be denied that this issue is very close to the hearts of people in our societies. There is an urgent need to take active steps to govern globalisation, change development models, and put a halt to widening inequalities and social polarisation.

The Commission’s analysis of the current situation is welcome, and indeed it isn’t the first time it has questioned the efficiency of globalisation and free trade; in its 2006 communication on ‘Global Europe – competing in the world‘ and the 2015 ‘Trade for all‘ publication, it acknowledges some a number of problems and underlines the need for global standards, regulations, and multilateral governance. In both the old and new documents, innovation and growth are at the top of the pyramid, demonstrating that the Commission sees social outcomes only as a by-product of the economy. The packaging and claimed aim have changed, but the approach seems to be the same.

The difference between the Commission’s old stance on globalisation and its position today is that we now have a global agenda to tackle these problems that is universal, transformative, and comprehensive – namely, the 2030 Agenda for Sustainable Development. Many of the Agenda’s sustainable development goals (SDGs) are at the core of what Social Platform strives to promote: an end to poverty and reduction of inequalities; gender equality and inclusive quality education; inclusive and sustainable economic growth; and full and productive employment and decent work for all.

As fighting inequalities and investing in social policies leads to more resilient societies and inclusive growth, we would like to see the EU embrace the 2030 Agenda for Sustainable Development and become a global leader championing its implementation. It’s in this spirit that I look forward to participating in the Brussels Economic Forum on 1 June to speak about inequalities in a context of modest growth.

Best wishes,

Kélig Puyet, Director of Social Platform