Race to the Bottom to Continue for G20 Nations A critical analysis of the G20's Toronto Summit Declaration http://www.dominionpaper.ca/articles/3553

Financial oversight will remain with elites—led by the IMF and other Multilateral Development Banks (MDBs, such as the Inter American Development Bank and the African Development Bank)—and the declaration proposes these institutions should become "even stronger partners" in the future.

Language in the document about increasing "global output," creating tens of millions of jobs, and reducing global "imbalances" flies in the face of the document's own recommendations for countries with higher debt-loads to continue a regulatory race to the bottom by "maintaining open markets and enhancing export competitiveness"—an openness that has historically widened global gaps, put millions of people out of work (or forced them to migrate for work) and siphoned the resources of low-income countries into the bank accounts of corporations.