Trade Deals Unable to Alleviate Employment, Fix World

Sarah Burrow, the general secretary of the International Trade Union Confederation said that the systems across the world needed to be changed urgently, and "a model of business with morality at the top" should be at their core.

DAVOS (Sputnik) – No trade agreement is capable of changing the business systems of the world and creating more jobs, the general secretary of the International Trade Union Confederation told Sputnik on Wednesday.

"TPP [Trans-Pacific Partnership] is just another trade agreement, and there are some very misguided agreements within it — some people will win, some people will lose. But in this game of economic challenge where we have massive unemployment globally, where demand has slumped, where growth is not there, than no trade agreement can fix the world," Sarah Burrow said on the sidelines of the 46th annual World Economic Forum (WEF), currently underway in the Swiss town of Davos.

Burrow noted that the systems across the world needed to be changed urgently, and "a model of business with morality at the top" should be at their core.

She stressed that once governments began to go along with such changes, and helped people to earn enough money, growth would return.

The TPP is a 12-nation trade deal, the wording of which was agreed between the United States, Japan, Australia, New Zealand and other Pacific Rim nations in October 2015. The deal aims to deregulate trade among its signatories.

The TPP framework agreement is expected to be signed next month.