Global policy Globalisation creates the conditions for increased growth and welfare, but entails greater risks in terms of the threat to the environment, access to strategic commodities, security and a growing mutual dependence. Globalisation must therefore be matched by cooperation between countries and regions. It is my conviction that we will need an increasingly international political cooperation to be able to manage the downside of globalisation and to reduce the economic gaps in the world. With regard to the risks related to global imbalances, there is an organisation that was given the role, back when it started more than 60 years ago, of monitoring global financial and economic stability: the International Monetary Fund (IMF), which was formed to provide temporary balance of payments support to its 45 western member countries. 11 Since then there have been major changes in the world economy. The number of IMF member countries has increased to 184, the fixed exchange rate system has collapsed and worldwide capital markets have been established. The IMF’s lending has declined from approximately USD 60 billion in 2003 to around USD 20 billion in 2006, which also entails a major reduction in the income that has so far financed the organisation's activities. At present, there are intensive discussions within the IMF and its member countries as to how the organisation should be reformed in order to better meet the needs and problems of a new age.
Number of work permits in the UK, Ireland and Sweden issued to citizens of new Member States following the EU accession In thousands UK *  Ireland**  Sweden***  Total  In % of workforce †  Lithuania  44.72  26.37  0.37  71.46  4.4  Latvia  23.03  12.94  0.16  36.14  3.2  Estonia  4.68  3.39  0.36  8.43  1.3  Poland  204.90  70.14  2.16  277.20  1.6  Czech Republic  20.01  6.39  0.07  26.47  0.5  Hungary  10.35  3.83  0.20  14.37  0.3  Slovakia  36.36  10.93  0.09  47.38  1.8  *Source: Accession Monitoring Reports, http://www.ind.homeoffice.gov.uk. The data include the period between May 2004 and December 2005. NBP calculations. **Source: Skills needs in the Irish economy: The role of migration, A submission by the Expert Group on Future Skills Needs and Forfás to the Minister for Enterprise, Trade & Employment, http://www.skillsireland.ie. The data include the period between May 2004 and August 2005. ***Source: Migracje specjalistów wysokiej klasy w kontekście członkostwa Polski w Unii Europejskiej. Centre for Migration Research, Warsaw University. The data include the period between May 2004 and December 2004. †Workforce – people of 15 and more years of age in Q1, 2004. 10  HSBC “The Great Migration. How China’s 200 million new workers will change the economy forever”, HSBC Global Research, October 2005.