NAME: Yoonseo You

COMMITTEE: London Economic Conference

AGENDA: London Economic Conference
DELEGATION: Switzerland

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Intro:In the 1930s, the Great Depression swept the world and presented nations with
never-before-seen economic difficulties. Switzerland, a nation renowned for its neutrality and
financial stability, has its own economic challenges during this turbulent time.

Switzerland’s position:
The delegate of Switzerland recognizes the gravity of the economic challenges posed by the
Great Depression. Except for 1937 and 1939, Switzerland's industrial production decreased
by 20% between 1929 and 1932 and stayed below the 1929 level until the end of the decade.
As a result, Switzerland faced an unprecedented poverty that had never been found in history.

Past actions:
The delegate of Switzerland wishes to showcase the country's realistic answers during the
Great Depression. Recognizing the global crisis, Switzerland maintained fiscal restraint and
good financial management, acting as the backbone of our economic stability. Our banking
industry remained strong, attracting international cash and cementing our position as a haven
for global capital. Recognizing problems in important industries such as watches and textiles,
we went on a trade diversification journey. Switzerland's uncompromising neutrality stance,
along with our role as a protector of foreign capital, insulated us from the economic storms
that ravaged other countries. In addition, social assistance programs were established to assist
our inhabitants during times of unemployment and economic difficulty.

Proposed solutions:
In order, the delegate of Switzerland proposed 3 solutions to solve this crisis.
Enhanced International collaboration: Switzerland emphasizes the necessity of increased
international collaboration in an increasingly linked world. Collaborative actions across
nations are critical in combating economic problems collectively. We suggest the creation of
multilateral venues for economic conversation, information sharing, and policy coordination.
We can improve our resilience and reactivity to economic crises by working together.

Robust Financial Laws: Switzerland pushes for the creation and implementation of robust
international banking laws to prevent the recurrence of financial crises. Transparency, risk
management, and responsible financial practices should be prioritized under these policies.
We can protect the integrity of the global financial system and mitigate the negative impacts
of financial instability by creating robust regulatory frameworks.

Trade and Investment Promotion: Switzerland emphasizes the importance of trade in

promoting economic growth. We suggest encouraging open and fair trading practices, as well
as lowering trade obstacles. Diversifying trade links and researching developing markets are
also important measures toward economic resilience. We can boost economic recovery and
long-term prosperity by creating a favorable climate for trade and investment.

Supporting evidence:
Enhanced International Cooperation: During the 2008 global financial crisis, when central
banks coordinated some steps to calm markets, international collaboration proved beneficial.
According to International Monetary Fund (IMF) research, coordinated efforts resulted in
faster recovery.

Robust Financial Laws: The 2008 financial crisis revealed the dangers of lax financial laws.
Stricter restrictions, such as those advocated by the Financial Stability Board (FSB), could
help to reduce financial instability and protect economies.

Trade Promotion: Historical evidence shows that trade had a favorable influence on economic
growth. According to a World Trade Organization (WTO) analysis, nations with liberal trade
policies saw faster economic recovery following the crisis.