The benefits of globalisation flowed primarily to the developed world and its principal trading partners, among them Brazil, China, and India. As we enter the newer age of mobility, people will move across borders in ever-greater numbers. In their pursuit of opportunity and a better life, they have the potential to chip away at the vast inequalities that characterise our time, writes Ravinder Rena.
More countries are now integrated into a global economic system in which trade and capital flow across borders with unprecedented energy. Nonetheless, argues Ravinder Rena, globalization has become painful, rather than controversial, to the developing world.
Antiglobalists argue that economic integration is the new form of imperialism, while globalists insist it is the only way that poor countries to transcend underdevelopment. Which is it?
The multilateral trade system faces a crisis and a crossroad. Martin Khor re-examines what approach developing countries should take towards integration of the world economy, and to liberalisation of trade, finance and investment.
Africa’s problem is the lack of supply capacity to produce products and services that can sell abroad. Market access and technical assistance without action on productive capacity are not enough, writes K. Acngashi.
The emergence of the Euro is a global phenomenon with global consequences, explains Enase Okonedo. Developing countries must be prepared to take advantage of the opportunities and to mitigate the threats the Euro poses.
Developing countries have shown commitment to economic globalisation while showing contempt for the human rights of their people. Oby Ezekwesili calls for the globalisation of human rights standards, including accountability and transparency, and for global action against crimes against humanity.
Africa's natural resources are being depleted with little gain to its economies. To improve their international competitiveness, African nations should treat these resources as capital, modify the present unsuitable system of national income accounting and press for reform of the global trading system that is biased against natural resource-dependent economies, argues Jekwu Ikeme.