One tentative agenda has multiple elements aimed at this single critical point. It has however only one element traditionally recognized as economic, put here in the first position. Secure low and stable interest rates by whatever means. When the Federal Reserve or the Bundesbank tightens, every capital market in the world slumps. Those which are most important for the development process fall fastest and most.
Debtors suffer, including national debtors, while creditors gain.
Advanced exports, which support the development process, fall as Third World purchasing power and the capacity to finance declines. Of all the unexploited opportunities of the Left, monetary policy is surely the most central. It has universal impact, and for this reason a program focussed on low interest rates should have very broad appeal. Moreover global monetary policy remains under the control of the advanced powers, and therefore within the ambit of our political systems. Cut arms budgets and the arms trade.