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p. 12 of 15 BACK | NEXT Executive Summary I. An Analytical Framework II. Regional Experiences III. Policy Actions to Help Poor People Gain from Globalized Markets A. Actions by developed countries B. Actions by Developing and Transition Countries C. Actions by International Institutions

Global Poverty Reduction 2001

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III. Policy Actions to Help Poor People Gain from Globalized Markets

50. Globalized markets and the World Trade Organization (WTO) system have recently been subjected to strong criticism. Challenges to the WTO system come from nongovernment organizations in the North, who ask for greater transparency in decision-making and for a voice to influence processes. Governments in the South ask for a seat at the table and for technical assistance that can allow them to be full participants in negotiations and reap the benefits of trade liberalization.

51. From the perspective of the poor, there are risks that justified concerns about their interests are manipulated to support a return to protectionism. This would slow world growth and would likely harm the poorest most. Reforming and revitalizing the international trading system, including the launch of a new trade round, is important to harness trade for development and poverty reduction.

52. Equally important is the integration of trade policies in the broader development agenda that includes institutional development, such as adequate regulatory frameworks, both nationally and internationally, appropriate mechanisms to deal with labor and environmental issues separately from trade issues, and appropriately sequenced capital account liberalization. Such reforms are a continuing process, expected to benefit poor people in developing countries, but need to be consolidated. Actions by developed countries, developing countries, and aid agencies are needed.

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