Policy Brief 3, September 2010
Some preliminary thoughts on new international economic cooperation.
The developed countries have acted as engines of economic growth in the world for nearly half a century; but they may not continue to have that role for long. With their negligible population growth and low level of GDP growth, they are unlikely to generate significant additional consumer demand.
As against it, the developing countries have been showing much promise for higher GDP growth and some among them have had high growth rates consistently for some years. Developing countries are turning around and some among them are widely considered as the home and hub of new prospects and opportunities.
With such emerging new trends, there is a need for fresh thinking on the pattern of economic cooperation among the countries with a view to identifying and working out some relevant and essential elements of a healthy new international eco- nomic cooperation. Such a new approach is particularly important for the developing countries.
This article was tagged: GATT, Market Access, Reform of the International Financial System