But in terms of the Human Development Index, they are much better off. But remember that wage gaps have widened in the industrial countries between those who can use the new technologies and those who cannot. With 85 per cent of internet users confined to just 10 industrial countries at the end of 1997, this underlines the importance of investing in education and training in poor countries. To make such investments requires a stable and sustainable economic environment. Workers feel threatened by low-wage competition and new technology.
Governments seem less able to offer social protection.
Competitive pressures could create the temptation to lower labor and environmental standards. These concerns are real. Our objective must be to ensure that everybody has a chance to benefit from globalization, including the many millions who are currently falling behind. We must minimize the risks that globalization creates and the costs that it imposes on vulnerable groups. First, the Fund is a powerful voice and actor for free trade.