Highlights

The UNCTAD Trade and Development Report, 1996 (TDR) makes compelling reading for those seeking to go beyond mainstream analysis of globalization and its impact on the world economy. Will globalization improve the lives of the two billion poor in the developing world? What are its costs? What are its prospects in terms of employment in the North? TDR 96 provides thought-provoking answers to these questions.

Like its predecessors, TDR 96 discusses the recent performance of, and prospects for, the world economy as a whole and for the different geographic regions. UNCTAD has an authoritative record in economic forecast, and has on various occasions differed significantly from other official sources. This year´s report warns against the consequences of the deflationary policies followed by the industrialized nations.

Rising living standards in East Asia point to the growth potential of a more integrated world economy. Can the East Asian success be replicated? This is another major question dealt with in this year´s TDR. A clear answer is provided based on a detailed examination of the underlying factors of export-led industrialization of the "tigers". Government policies towards trade and technology remain crucial. TDR 96 finds that the new trading environment does not exclude East Asian type growth. New trading opportunities mean the South no longer rises or falls with the North.

TDR 96 also casts a critical eye on the availability of external financing for development and of debt relief.