1. Beyond the crisis : ovethrowing the discredited development model Arnaud Zacharie (CNCD – Belgium)

2. Majors problems to resolve International capital flows liberalisation, financial instability and « bubble economy » Global imbalances, exchange rates instability and reserve accumulation by developing countries Global competition, social dumping and loss of the part of wages in GDP Unsustainable growth model, CO2 emissions and climate change Global economy, national policies and lack of global governance

3. South-North financing

4. Alternatives Capital control mechanisms (ex. : « encaje ») Addressing capital flight (tax havens) Domestic savings mobilisation Progressive taxation system Debt cancellation

5. Global imbalances

6. Reserve accumulation in the South Source: IMF, International Financial Statistics, and IMF staff calculations

7. Reserve accumulation in the world

8. Alternatives New global reserve system and exchange rates stabilisation (ex. : new type of SDR) Regional reserve systems (ex. : Chiang Mai initiative) Regional currency systems

9. Social dumping and wage share in the South

10. Social dumping and wage share in the North

11. Alternatives Decent work agenda Social standards (incl. European social harmonisation) Capping return on equity

12. CO2 emissions

13. Alternatives Ecological debt financing Financing a new model of sustainable development by new clean development mechanisms Environmental standards A new sustainable GDP

14. IMF democratic deficit

15. Lack of coherence

16. Alternatives A new global system of governance (ex. : a New Global Economic Coordination Council) Democratisation of the new global system of governance Creation of a World Environmental Organisation Hierarchy of international law standards