The global economic model has failed working people. The power and greed of huge corporations have captured governments, which are acting against the rights and interests of their own workers.
The current model of trade – the bulk of it tied to global supply chains, in highly-competitive, low-cost markets – means that jobs created by transnational companies are too often based on exploitation without decent working standards. Ninety-four per cent of the global workforce of the top 50 corporations is hidden in supply chains, where the obscurity of business contracts facilitates this exploitation and too often a dehumanising oppression – even inclusive of modern slavery, along with low wages, short-term or precarious contracts and unsafe work environments.
In addition, new frontiers have emerged with the monopoly dominance of giant technology companies – with the power they exercise by controlling data – and platforms, whose business models have little or no connection to national laws, taxation systems or employment responsibility.