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Economic and Financial Affairs Council Docket Economic and Financial Affairs Council Docket SHSMUN XXVI ECOFIN A-1 Committee: ECOFIN Sponsor: Spain Topic: Evaluating the Economic Effects of Global Labor Arbitrage 1. Suggests the expansion of the Globalization, Offshoring and Economic Insecurity ​ ​ in Industrialized Countries working paper in order to: a. Better build an understanding about the consequences of labor arbitrage in countries with different economic standings, b. Work to apply programs that will ‘share the gains’ of labor arbitration with global economic players, c. Tailor specific labor arbitration programs to different countries which will work to: i. Balance the needs of a variety of different nations with different standings on labor arbitration, ii. Target economic insecurity in industrialized countries that might be severely affected by increased labor arbitration regulation, d. Take actions to spread information amongst nations about specific labor arbitration regulations in order to: i. Provide insight about which regulations have had the most and least success with new regulations, ii. Better understand upsides and downsides about labor arbitration in different nations, e. Working alongside the Institute for Labor Economics (IZA) to further understanding about labor arbitration which will: i. Further understanding about how workers and firms change through increased labor arbitration reforms, ii. Build a system of mitigation for potentially harmful environmental ramifications of labor market adjustments, iii. Gather additional information about necessary labor market changes that can be used internationally, iv. Include relevant parties in the application of labor arbitration regulatory actions, f. Working with the non-governmental organization Deloitte to help apply understood data and arbitrage statistics in reality through: i. Utilizing market knowledge about the labor market on a broader scale, ii. Continuing research and development of uniformly successful labor arbitration systems internationally, iii. Immediately changing existing labor arbitration systems when needed the most; 2. Proposes the use of the World Trade Organization’s (WTO) existing social ​ ​ globalization sustainability program in order to: a. Better understand the labor market and how the trade, employment, and unemployment are affected by offshoring in order to: i. Successfully build labor arbitration systems that can utilized in a variety of countries, ii. Implement a both environmentally and socially sustainable system for trade and long-term employment internationally, iii. Provide insight about wages and governmental intervention into labor arbitration regulatory actions, iv. Ensure long-term trading systems between countries which will both maximize revenues and closely monitor workers’ rights, b. Work alongside the non-governmental organization Accenture which will work to: i. Analyze collected data about the costs and effects associated with labor arbitration in different countries, ii. Collect additional data to help accurately regulate labor arbitration infrastructures all over the world, iii. Implement machine-based systems that can better handle labor arbitration concerns, iv. Build healthcare-specific labor arbitration systems that best benefit the global economy, v. Provide insight into how to best reduce the costs associated with delivery, data access, and long-term business development; 3. Encourages the expansion of the United Nations Commission on International Trade ​ ​ Law’s (UNCITRAL) existing Arbitration Rules throughout the world which will: a) Work to add legislation in countries in need of the most labor arbitration changes as seen by UNCITRAL which will: a. Help to reduce the costs associated with the implementation of new programs through existing labor arbitration regulation programs, i. Provide uniform systems about labor arbitration rules internationally, ii. Help to balance the international community’s goals of making labor arbitration more socially equal, iii. Ensure proper observation and regulation of arbitration systems through utilizing existing regulatory authorities, b. Make information about labor arbitration more publicly accessible which will: i. Broaden public understanding about which systems work the best and which ones need the most improvement, ii. Allow for increased public actions about labor arbitration and necessary changes to be made when needed, c. Build treaty-based alliances that allow for increased trading and transparency amongst the international community in order to: i. Further economic growth and development of growth-based activities on a larger scale, ii. Allow for more reliable and publicly known trade agreements that can be utilized by both developed and developing nations, iii. Ensure more equitable distribution of resources among nations previously without access to strong trade networks which will: 1. Provide more opportunities for citizens in more rural and developing nations, 2. Ensure a higher standard of working conditions for involved countries, d. Partner with the non-governmental organization KPMG which will work to: i. Better provide digital resources and tools to citizens in developing countries previously without access to strong digital systems, ii. Help reduce the digital divide between developing and developed countries, iii. Incorporate technology to provide higher-paying and a larger variety of available jobs, iv. Reduce the costs associated with labor while still maintaining strong working conditions for a wide range of jobs, v. Transition work environments to a more artificial intelligence-based sector to provide more future growth opportunities, vi. Educate more citizens about how to best transition work environments to build resiliency for the future. ECOFIN A-2 Committee: Economic and Financial Affairs Council ​ Sponsor(s): The Kingdom of Denmark ​ Topic: Evaluating the Economic Effects of Global Labor Arbitrage The Economic and Financial Affairs Council, Acknowledging the growing power of technology and its ability to connect people from around ​ the world, Recognizing the importance of virtual communication for both the present and future, ​ Understanding the needs of companies to become competitive in the marketplace, ​ Realizing that in many cases, outsourcing is one of those needs, ​ 1. Defines global labor arbitrage as a way of obtaining goods or services from an outside ​ ​ supplier, potentially foreign, specifically in place of an internal supplier a. Synonyms include outsourcing and offshoring; 2. Upholds the United Nations’ ruling in 2005 that it would “allow outsourcing when ​ ​ ​ technical skills, technologies or expertise are not readily available within the Organization; to achieve cost savings; to provide a service more effectively or expeditiously; or to provide an activity, which is not required on a long-term basis.” a. The United Nations also stated that “heads of departments and offices, funds and programmes have been instructed to ensure strict adherence to the criteria and ​ requirements for outsourced activities.”; 3. Recognizes both the advantages and disadvantages of outsourcing ​ ​ a. Advantages: creating more jobs in the global economy, helping smaller companies ​ ​ grow, providing more jobs in the home office, making the marketplace more ​ ​ competitive, lower labor costs, less strict regulations, reduced overhead, and the ​ ​ ​ ability for the home office to focus on what it does best while letting others do the ​ ​ ​ more low-level work, leads to lower expenses, increases in productivity, and greater profits b. Disadvantages: potentially damages a company’s brand image and quality control, ​ destroys confidentiality agreements, limits flexibility, and provides a massive legal liability to the home office, leads to fewer jobs in the home office, directly takes away from the local economy; 4. Suggests that companies should use well-equipped outsourcing consulting firms who can ​ ​ help them adequately: a. Understand their strengths and weaknesses b. Find another firm that can help them with said weaknesses ​ c. Make a smart financial decision that helps shape the company’s future while either saving the company money or providing them with a larger pool of skilled workers in foreign countries. i. Manufacturing companies should outsource to high-income countries closer ​ ​ in location to cut down in the cost of importing, eliminate any cultural ​ ​ differences, and create higher-quality goods according to a study by ​ ​ Aarhus University that reported a 2% increase in productivity, 15% increase in product development, and 20% increase in export intensity when Danish manufacturing companies outsourced to nearby high-income OECD countries. ECOFIN A-3 Committee: Economical and Financial Affairs Council Country: Russia Topic: Evaluating the Economic Effects of Global Arbitrage Recognizing ​that global labor arbitrage is an economic phenomenon whereas the result of the removal of barriers to international trade, jobs move to nations where the cost of labor is cheaper. Bearing in mind ​the benefits of service-based offshoring, such as software development and Information Technology jobs, to national economies because software industries provide higher return of investment. Deeply concerned ​by the loss of domestic jobs offered to low-income workers due to the offshoring of manufacturing jobs, Seeks ​ to find a plan that will work for several countries despite their different economic statuses, 1. Urges​ that all the nations develop regulations that require companies
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