Poorer nations should be involved in handling crisis

(Xinhua)
Updated: 2009-03-31 17:08

BEIJING -- The upcoming G20 summit in London is a good chance to cobble together an out-of-crisis roadmap, not only for the developed countries, but also for the developing ones, including the world's poorer nations.

While on the global "radar screen" of stimulus measures, signals from the poorer nations in Africa, Latin America and Asia have been weak and scarce. However, the poorer nations' suffering caused by the financial woes has no reason to be ignored.

The global crisis "hits Africa twice" and has left those poor countries to "face the very real danger of malignant decoupling, derailment and abandonment," said Kofi Annan, the former secretary-general of the United Nations who now chairs the Africa Progress Panel.

Related coverage:  G20 Financial Summit Related readings:  Emerging economies call for bigger say at G20  Tens of thousands protest in London ahead of G20 summit  G20 summit helpful for reforms of int'l financial system  G20 takes over G7 as platform for tackling crisis

Not only are the poorer countries most subject to the impact of the global crisis, but the very way in which the developed world has responded to the trouble continues to worsen their situation by encouraging capital to flee to perceived safety.

Lacking the means to argue their case at the top tables in the global economic and financial structure, the African countries face the very real danger of losing their voices and are being further marginalized.

The International Monetary Fund estimated earlier this year that global trade could decline by nearly 3 percent this year, and pointed out that poorer nations "are far more dependent on trade for growth" than industrialized countries.

   Previous 1 2 Next Page  

   Previous 1 2 Next Page  

China Effort

• Shopping team headed for US tour
• China, Argentina to push for equitable financial system
• Vice premier calls on G20 to fight crisis unitedly
• China calls for increasing cooperation with EU
• Central bank urges int'l financial reform
• more

Global Action

• UK's Brown hopeful for G20, says more to be done
• British FM: G20 needs more than empty words
• UN urges G20 to back $1t aid for poor nations
• EU leaders agree to lend 75 billion euros to IMF
• Obama calls for global action amid crisis
• more

Related Coverage

• Hu at G20 and APEC
• China Statistics
• 2009 NPC and CPPCC
• Chinese Economy
• World Financial Crisis
• more