DEVELOPMENT AND GLOBALIZATION Facts and Figures 2008 UNITED...

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UNITED NATION S 2008 DEVELOPMENT AND GLOBALIZATION: Facts and Figures UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT
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UNITED NATIONS 2008 DEVELOPMENT AND GLOBALIZATION: Facts and Figures UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT New York and Geneva, 2008
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NOTE ii Development and Globalization: Facts and Figures was prepared under the auspices of UNCTAD’s Division on Globalization and Development Strategies, in collaboration with all UNCTAD divisions. Symbols of United Nations documents are composed of capital letters combined with figures. Mention of such a symbol indicates a reference to a United Nations document. General disclaimer The designations employed and the presentation of the material in this publication do not imply the expression of any opinion whatsoever on the part of the Secretariat of the United Nations concerning the legal status of any country, territory, city or area, or of its authorities, or concerning the delimitation of its frontiers or boundaries. Where the designation “country or area” appears, it covers countries, territories, cities and areas. The designations “developed”, “in transition” and “developing” are intended for statistical convenience and do not necessarily express a judgement about the stage reached by a particular country or area in the development process. Material in this publication may be freely quoted or reprinted, but acknowledgement is requested, together with a reference to the document number. A copy of the publication containing the quotation or reprint should be sent to the UNCTAD secretariat. UNCTAD/GDS/CSIR/2007/1 UNITED NATIONS PUBLICATION Sales No. E.07.II.D.20 ISBN 978-92-1-112730-0 Copyright © United Nations, 2008 All rights reserved
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iii FOREWORD This second issue of UNCTAD’s “ Development and Globalization: Facts and Figures ” is more than an update of the 2004 edition. With economic globalization challenging much of our traditional wisdom, the 2008 edition is meant to increase the analytical emphasis and to offer some explanation for new and emerging economic trends. In recent years it is remarkable how quick and how fundamental the role of developing economies in the global economy has changed. The biggest and the fastest-growing developing countries nowadays are considered to stabilize the world economy due to their dynamism and their openness. Developing countries accounted for 37 per cent of world merchandise exports in 2006 on a rising trend. Moreover, as many developing countries have achieved current account surpluses they have become important providers of capital for the rest of the world. As I said in my report to UNCTAD XII, which will take place in Accra in spring 2008: A “second generation” of globalization is thus emerging. A distinctive characteristic of this phase of globalization is economic multipolarity, in which the South plays a significant role. Today, no negotiation of an international economic agreement is conceivable without the presence of China, India, Brazil and South Africa at the table. The new economic weight of some
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