1:11:00
rather than business interests
as its bottom line.
1:11:03
My reaction was one of total surprise.
1:11:05
We were expecting
a speech more based
1:11:06
on what the World Trade Organization
does in its relation to Australian trade.
1:11:10
It sort of blew me out of the water
when the announcement was made
1:11:13
that the World Trade Organization
is significantly reinventing itself
1:11:17
to focus on issues relating to people
as opposed to economics...
1:11:22
something that hopefully could be
of significant benefit
1:11:25
to the poor and needy throughout
the world in all developing countries.
1:11:29
The U.N, estimates that poor countries-
the poorest countries in the world...
1:11:34
lose approximately $2 billion a day
because of unjust trade rules,
1:11:39
many of them instituted
by our own organization.
1:11:42
And this is 14 times the amount
1:11:44
that they receive in aid
from developed countries.
1:11:48
I thought the speech itself was compelling
in terms of its information.
1:11:53
I was astounded to find that they're
actually gonna dismantle the WTO.
1:11:58
I was also amazed to see that there was
a mission that perhaps had failed.
1:12:03
It's gonna have a huge effect
on international business
1:12:06
and particularly for us
as an organization, I feel.
1:12:09
The hardest thing, I find,
will be the balance that, let's say,
1:12:13
the U.S., E.U., and Japan...
1:12:15
in terms of being major components
of the world economy...
1:12:19
the effect-will they really change
in terms of this new organization,
1:12:23
and will there actually
be genuine change
1:12:25
and perhaps a benefit
to the world's poorest countries?
1:12:28
I must admit I'm a cynic
with regards to that occurring.
1:12:31
Liberalization-
the process of liberalization
1:12:35
often enables
the knowledge of the poor
1:12:37
to be converted into the property
of global corporations.
1:12:40
Specific statistics are rather shocking.
1:12:44
Out of 26,000 patents
applied for in Africa in 2000 and 2001,
1:12:52
only 31 were from residents of Africa.
1:12:56
The rest were from residents
of first world countries.
1:12:59
31 out of 26,000 patent applications.