Rising trade and liberalization have meant solid economic growth for some developing countries, but for others they have been accompanied by falling income, falling employment, greater indebtedness and greater poverty.
The one-size-fits-all approach to development has failed, multilateralism is in crisis and there is a profound mismatch between the pursuit of national interests on the one hand and the broader goals of an international trading system on the other.
Countries lacking the goods and services to compete in world trade have little to gain from the multilateral negotiations now under way. Coherence is needed on these issues - issues that UNCTAD XI will move forward on the international agenda, creating the consensus needed to bridge the gaps and harness the power of trade for development and poverty reduction.
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