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Global Economic Prospects

The international community finds itself at a crossroads as it goes into the last quarter of 2003. Will the Doha Agenda regenerate the multilateral consensus that has been the hallmark of successive rounds of trade liberalization since 1947 and in doing so provide new impetus for global integration? Or will the Doha Agenda collapse in stalemate and perhaps be viewed as the moment when the international community retreated from multilateralism and opened the floodgates for less desirable bilateral and regional arrangements?. | Global Economic Prospects Realizing the Development Promise of the Doha Agenda 2004 2003 The International Bank for Reconstruction and Development The World Bank 1818 H Street NW Washington DC 20433 Telephone 202-473-1000 Internet www.worldbank.org E-mail feedback@worldbank.org All rights reserved. 1 2 3 4 04 03 03 This volume is a product of the staff of the World Bank. The findings interpretations and conclusions expressed herein do not necessarily reflect the views of the Board of Executive Directors of the World Bank or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. The boundaries colors denominations and other information shown on any map in this work do not imply any judgment on the part of the World Bank concerning the legal status of any territory or the endorsement or acceptance of such boundaries. Rights and Permissions The material in this work is copyrighted. Copying and or transmitting portions or all of this work without permission may be a violation of applicable law. The World Bank encourages dissemination of its work and will normally grant permission promptly. For permission to photocopy or reprint any part of this work please send a request with complete information to the Copyright Clearance Center Inc. 222 Rosewood Drive Danvers MA 01923 USA telephone 978-750-8400 fax 978-750-4470 www.copyright.com. All other queries on rights and licenses including subsidiary rights should be addressed to the Office of the Publisher World Bank 1818 H Street NW Washington DC 20433 USA fax 202-522-2422 e-mail pubrights@worldbank.org. ISBN 0-8213-5582-1 ISSN 1014-8906 Cover photo credit AFP CORBIS. Workers at the Los Ausoles coffee plantation in Ahuachapan El Salvador clean coffee beans August 14 2002. Contents Foreword ix Acknowledgments xi Overview xiii Abbreviations and Data Notes xxxi Chapter 1 Global Outlook and the Developing Countries 1 The industrial countries Deficits confidence capital .