The need for a new approach to trade and structural transformation in LDCs

Despite some progress, many least developed countries are not catching up with other developing countries. Economic growth that spurred previous graduations was limited to approximately a decade from 2006, stagnating even before the pandemic. While health and education are improving in some least developed countries, and several are graduating from the category, many face continued vulnerability, economic decline and commodity dependency. Significant disparities exist within the group. International support focuses on market integration; new approaches are needed. Alternative trade and development perspectives should address national policies to enhance productive capacity and resilience in least developed countries, and global economic structures.