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By Michele Fratianni, Paolo Savona

This quantity specializes in the demanding situations for maintaining progress within the twenty first century and the position of the G7 and IMF in assembly them amidst the procedures of regionalism now rising. It assesses how good the G7 has addressed separately and interrelated ambitiously its middle 2002 schedule of maintaining worldwide progress, decreasing poverty in Africa, struggling with terrorism and its financing. It examines how the IMF has approached those matters and similar paintings of the G7. It additionally explores how either the G7, IMF and different overseas associations are addressing worldwide progress and improvement demanding situations within the context of the hot strategies of regionalism. Pressures reminiscent of forex consolidation in Asia and financial union in Africa are studied. This booklet builds on prior volumes within the sequence with a heavy specialise in the realm financial institution, the local improvement banks and the various different foreign associations that paintings within the box of improvement.

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Extra resources for Sustaining Global Growth and Development: G7 and IMF Governance (Global Finance)

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Immediately after the Summit's conclusion, the African Union was born, as an important institutional instrument for ensuring that Africa as a whole would be able and willing to deliver its side of the NEPAD bargain. With all G7 leaders except George Bush in attendance, the World Summit on Sustainable Development in Johannesburg in the late summer was able to move forward in several areas, through development-oriented partnerships between North and South, the private and public sectors, and the environment and development communities as well.

Productivity growth and international competitiveness must be encouraged not by protectionist or industrial policies but by improving the factors that affect the degree of international competitiveness (such as liberalising the economy and improving the industrial structure). In short, a country's future prosperity depends on its growth in productivity, and this can certainly be influenced by government policies. Thus, nations compete in the sense that they choose policies that promote productivity.

Globalisation has also occurred in the production of goods and services with the rapid rise of multinational corporations (MNCs). These are run by an international team of managers, have research and production facilities in many countries, use parts and components from the cheapest sources, and sell their products, finance their operations, and are owned by stockholders throughout the world. In fact, more and more corporations operate today on the belief that their very survival requires that they become one of a handful of such corporations in their sector.

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