In other words, the world and particularly the developing countries have an opportunity to advance faster than would have been the case previously. The tragic and unfortunate irony is that developing countries continue to be spectators in the globalisation process, a process that is undoubtedly irreversible, with devastating results for the millions of people of such countries. This marginalisation of poor and developing countries needs an urgent and comprehensive response. And the prospects for future reduction in the numbers of those living in poverty do not look bright. In fact, the numbers rise in Sub-Saharan Africa by nearly 40 million.
Poverty remains intractable despite economic growth in many countries.
The South Wales problem, itself an unfortunate consequence of the stock market and banking collapses that swept the East Asian economies, is one of the many illustrations of this increasingly interconnected world of cause and effect, where problems in one country have an adverse effect on neighbouring countries. The USA is currently experiencing one of its longest economic growth periods in many years, thanks mainly to the ingenuity and enterprise of the people of this country and the impact of technology. This happens at the same time as we witness significant improvements in the global economy and forecasts for continued growth are indeed positive. At the same time, we note that this impressive economic performance has not yet resonated in developing countries, as it should have. Indeed, the many problems and conflicts that characterise some of the developing countries impact negatively on the processes that are essential for these countries to join the current economic progress.