How Bad Are The Economies Of The Developing World, Like the Philippines, In The Wake Of The World Financial Crisis?
By Kevin Stoda, just back from Manila
This last July 2009, IMPACT magazine in the Philippines published an article by Charles Avila. The article was entitled, "How bad really is the Philippine Economy? Avila began his piece by reviewing the results of the high level U.N. summit in London June 2009.
http://www.brettonwoodsproject.org/art-564772
In short, that hyped-up summit was considered by many to be a failure. "The first major conference on the financial and economic crisis to involve all countries ended with rich countries blocking substantive reforms demanded by developing countries. The UN conference did however push key issues up the international agenda, such as the need for a better system of international reserves, and for genuine policy space for developing countries.
http://www.impactmagazine.net/pdf/vol43_no07.pdf
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