UNCTAD Expert: Globalization and Economic Policies Reasons of World Crises

Doha, May 05 (QNA) - The economic expert at the UNCTAD Division on Globalization and Development Strategies Raja Khalidi said that the world crises and the social fluctuations in the Arab region are the results of what he called the mismanagement of economic policies in many cases and the consequences of the previous stage of globalization. After twenty years of globalization, there is still grave poverty in some communities and poor distribution of income, the repercussions of which have affected the Arab region in the last year, Khalidi said in statements to Qatar News Agency (QNA). He underlined that the UNCTAD have always warned of dangers in the world economy, stressing that importance of the UNCTAD researches in all fields of economy. Asked about why the UNCTAD did not adopt "Development-Centered Globalization" as a slogan for the thirteenth session of the conference, which concluded in Doha recently, Khalidi said that globalization as a term used to describe the nature of international economic relations existing in a decade or more, it is not doctrine nor policy, but is continuing and expanding phenomenon and changing from time to time. However, he pointed out that modern globalization is linked to the process of trade liberalization (the process of global trade) and the liberalization of the flow of money. He underlined that development refers to a sustainable economic growth without a large fluctuation and the distribution of the benefits of this growth as much as possible. Through this fair distribution of development gains, the various segments of society and different state institutions will develop at the same time in a continuous process. Khalidi highlighted the importance of Qatar s presidency of the UNCTAD during the next four years, saying that it will be an opportunity for the organization s general secretariat to learn more about the Arab region. Through its presidency of the UNCTAD, Qatar will be the reference if any dispute broke out between the Member States, he said. The whole world and decision-makers in Europe and America and even in developing countries are focusing on how to solve the global economic crisis; thus, the importance and the possibility of making a progress during Qatar s presidency of the UNCTAD would be the beginning of the emergence of a new world financial system that may arise after integration with the global trading system, Khalidi said. (QNA)