Trade and Development Report 1999

Fragile Recovery and Risks - Trade, Finance and Growth

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A valuable resource for those involved in international business and economic development, the Trade and Development Report (TDR) 1999, issued by the United Nations Conference on Trade and Development (UNCTAD), examines current performance and prospects in the world economy. It offers further reflections on the Asian financial crisis and discusses the euro and the international financial system. The report also examines asymmetries in the international trading and financial systems, which continue to hamper growth prospects in developing countries.




Since the UNCTAD secretariat made its first assessment of globalization, in TDR 1997, conditions in the developing world have deteriorated drastically. The few bright spots, mainly in East Asia and Latin America, which could light the way for others to a better future have been dimmed, and the much-hoped-for turning point in Africa has not been reached. The predicted gains to developing countries from the Uruguay Round have proved to be exaggerated and, as feared, international capital movements have been particularly disruptive. Poverty and unemployment are again on the rise in developing countries which had struggled for many years to combat them. Income and welfare gaps between and within countries have widened further.


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