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Trade and Development Report 2000

Global Economic Growth and Imbalances

image of Trade and Development Report 2000

A valuable resource for those involved in international business and economic development, the Trade and Development Report (TDR) 2000, issued by the United Nations Conference on Trade and Development (UNCTAD), examines current performance and prospects in the world economy. Held in high regard by political decision makers and researchers the world over, the Report this year examines whether the current recovery in the global economy is built on solid foundations. It asks how the promise of an economic future underpinned by new technologies stands with the growing instability and uncertainty of market-driven globalization. The Report also looks at the elements of the East Asian recovery and considers policy options likely to bring about sustainable growth and development.

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The current global recovery and imbalances in a longer-term perspective

Recovery and sustained growth in the global economy has been subject to two challenges since the 1997 Asian crisis, one being on the real side and the other involving the financial sector. The first threat was the impact on developed economies of the expected sharp increase in competitiveness and exports from East Asia as the crisis-stricken economies benefited from massive currency devaluations, requiring large swings in trade balances. The second threat was that of a global collapse of financial markets as a result of the rush to liquidity following the Russian debt default in late summer 1998. Both developments gave rise to widespread forecasts of a global slowdown and concerns over a risk of recession.

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