Developing Countries Narrowing Options

United Nations Conference on Trade and Development, Trade and Development Report 1989; Geneva, September
UNCTAD must have celebrated its twenty- fifth birthday on a subdued note.3 Its role in influencing cither patterns of international trade and finance or multilateral negotiations has never been so limited. The earlier uniqueness of its position as the only international economic institution with a near universal membership has been eroded by the entry of some socialist states and the proposed entry of others into institutions such as the World Bank and the IMF. And, unlike these bodies, it Jacks the clout that cornes from the ability to disburse resources. Given its increasing impotence in terms of influencing events, the UNCTAD Secretariat has set itself the more limited task of providing a forum for discussion and debate, analysing trends and directions in the world economy, and assessing the efficacy and viability of different attempts at open economy macro- management, This year's Trade and Development Report (hereafter TDR) is one step in this direction. It is an important document which merits consideration from those concerned with economic stra' ,gies in developing countries.