U.N. 'Climate Change' Plan Would Likely Shift Trillions to Form New World Economy

A United Nations document on "climate change" that will be distributed to a major environmental conclave next week envisions a huge reordering of the world economy, likely involving trillions of dollars in wealth transfer, millions of job losses and gains, new taxes, industrial relocations, new tariffs and subsidies, and complicated payments for greenhouse gas abatement schemes and carbon taxes — all under the supervision of the world body.

Those and other results are blandly discussed in a discretely worded United Nations "information note" on potential consequences of the measures that industrialized countries will likely have to take to implement the Copenhagen Accord, the successor to the Kyoto Treaty, after it is negotiated and signed by December 2009. The Obama administration has said it supports the treaty process if, in the words of a U.S. State Department spokesman, it can come up with an "effective framework" for dealing with global warming.Read More

Southern African countries launch free trade zone

JOHANNESBURG (AFP) — Southern African countries launched a regional trade zone at a summit on Sunday that aims to eliminate import tariffs, with plans for a common currency by 2018.

Eleven of the 14 countries that are part of the Southern African Development Community (SADC) will participate in the free trade area, including Zimbabwe, which has the world's highest inflation rate officially put at 2.2 million percent.

South Africa, the continent's economic powerhouse, is also among the countries that are part of the free trade zone.More