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Developing countries accounted for 37% 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.”
Reiterating a point made prior to the UNCTAD XII session, Mr Panitchpakdi said a second generation of globalisation was emerging, with a distinctive characteristic being economic multipolarity in which greater roles were played by the South. Today, no negotiation of an international economic agreement is conceivable without the presence of China, India, Brazil and South Africa at the table...
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