International trade, finance and transport

The collapse in growth of international trade, exacerbated by the disruption caused by the 11 September terrorist attacks in the United States, was the key feature of the economic slowdown of 2001. The international economic environment deteriorated, particularly for many developing countries and countries in transition. Net financial flows to those countries remained at a low level, the external financing conditions for them were more stringent and total flows of foreign direct investment fell. Developments during the year underlined the high degree of interdependence between developed and developing countries, as well as the need for further reforms in the international trade and financial systems.

Related Subject(s): United Nations
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