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Trade and Development Report 2007

Regional Cooperation for Development

image of Trade and Development Report 2007

The current edition of the Report anticipates a fifth consecutive year of overall output growth and continued strong demand for primary commodities contributing to an overall increase in per capita gross domestic product in developing countries. The main risk to this positive scenario, the Report warns, is that a major recession in the United States could sharply curtail exports from China and India, which are setting the pace for this growth. The report says regional cooperation can help reduce the vulnerability of developing nations to current account imbalances such as that of the US, and also reduce their vulnerability to major shifts in exchange rates caused by speculative capital flows.

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Foreword

Over the past five years, the expansion of the world economy and trade has served as an engine of growth for many developing countries and helped to support progress to the Millennium Development Goals. Even the poorest countries have been able to reap benefits from sustained growth of the world economy, largely because of favourable price developments in many primary commodities. Thus the global external environment for development has strongly improved since the turn of the Millennium.

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