Globalisation and Development

Observer 204, February/March 1997
Most of the industrialised countries are already deeply enmeshed in globalisation and are taking steps both to maximise its benefits and to ease the adjustments it demands. But there are wide differences in the readiness of developing countries to face global economic integration: they are increasingly heterogeneous in their degree of development, productive capacity, human resource base and competitiveness. Some, particularly in Southeast Asia and Latin America, are moving into mainstream global trade and investment flows. Others have the potential to participate more actively in world trade but must persevere with their growing efforts to improve local conditions for entrepreneurship and expand domestic capacities to produce and export.
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Economic data

GDP growth: +0.3% Q3 2019
Consumer price inflation: 1.8 % Nov 2019 annual
Trade (G20): -0.7% exp, -0.9% imp, Q3 2019
Unemployment: 5.1% November 2019
Last update: 15 January 2020

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