World Economic Survey 1989

Current Trends and Policies in the World Economy

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Global economy growth in 1988 confounded expectations. Not only was the expansion of world output larger than expected, but international trade and investments grew vigorously. However, this expansion failed to spread to many developing countries, particularly those in Africa and Latin America, which continued to stagnate or to grow very slowly. The World Economic Survey 1989 reviews these trends and analyses their implications for the different regions of the world.



International trade

International trade in 1988 was characterized by a sharp increase in the volume of world exports, a substantial improvement in non-fuel commodity prices, large shifts in trade flows and major developments in trade policy.


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