As economic globalization intensifies, imbalances have continued to occur in the economic development of different countries and regions. Since the early 1990s, the share of the developing countries, as a group, in world GDP and foreign trade has constantly declined. To ensure that all countries benefit equally from globalization, a fair foreign trade and world economic system should be established. Not only should the liberalization of commodity trade and capital transactions be promoted and pursued, but also the free movement of labor and the transfer of technology. The advanced countries should strengthen their macroeconomic coordination, maintain a reasonable stability of exchange rates among the major currencies, increase the transfer of funds and technology to the developing countries, especially to the poorest ones, and open their markets to the latter.
Poverty alleviation is a daunting task facing the global economy.
In this respect, the developed countries should make more substantial contributions. China is a developing country with large numbers of people still living in poverty. We are now implementing the Great Western Development Project, and making every effort to improve living standards in the underdeveloped areas. We believe this is our best contribution to alleviation of world poverty. The Role of the Fund 5.