China’s entry into the World Trade Organization in 2001 had huge ramifications for the global trading system and in shaping the events that have led to today’s U.S.-China trade war, explains author Paul Blustein in his new book, “Schism: China, America, and the Fracturing of the Global Trading System.” But Blustein, a senior fellow at the Centre for International Governance Innovation, argues that the Trump administration actually poses a bigger threat to the system with its decision to “flagrantly violate” WTO rules.When philanthropy is accused of jeopardizing democracy
The influence wielded by large foundations is a controversial topic in the U.S., where a handful donors like the Bill and Melinda Gates Foundation—a key contributor to Gavi and The Global Fund in Geneva—account for most of the world’s philanthropy. CNNMoney Switzerland asks Henry Peter, head of the Geneva Centre for Philanthropy, whether power is also an issue with foundations in Switzerland when it comes to the allocation of funds.
GESDA foundation matches CHF 3 million public funding with private donor
A new Geneva-based foundation that wants to advance the next big trends in scientific research has secured CHF 3 million in funding from a private donor— matching the sum already awarded by the Swiss government, its chairman tells CNNMoney Switzerland. Peter Brabeck-Letmathe, chairman of the Geneva Science and Diplomacy Anticipator (GESDA) and former Nestlé CEO, says the new foundation will help “create a competitive advantage for Geneva.”
Killer robots: a growing business that’s raising questions
Military spending into artificial intelligence is expected to grow up to USD 18.82 billion by 2025. At this pace, fully autonomous weapons, also known as killer robots, will soon become a reality. In the meantime, a campaign coordinated by Human Rights Watch is asking governments to stop them.
Why modern slavery cannot be solved without the financial sector
Over 40 million people are estimated to be victims of modern slavery or human trafficking, and the financial sector needs to play a role in eradicating it, says Fiona Reynolds, CEO of the UN-backed Principles for Responsible Investment. Speaking at the UN Forum on Business and Human Rights in Geneva last month, Reynolds presented an action plan designed by a commission she chaired.
Swiss companies fall short in Corporate Human Rights Benchmark
Over half of major companies across four key sectors are failing on human rights—particularly on due diligence—according to the latest Corporate Human Rights Benchmark (CHRB). Of the five Swiss companies ranked, none scored above 60 percent. Speaking at the UN Forum on Business & Human Rights, Margaret Wachenfeld, CHRB board director, explains where firms are falling short.
Crunch time for UN talks on killer robots as business demands clarity
