Translation of "Embellie de l’économie mondiale " (French → English) :

EUROPA - EU law and publications - EUR-Lex - EUR-Lex - 52006DC0763 - EN - Communication from the Commission - Global Europe - Europe's trade defence instruments in a changing global economy - A Green Paper for public consultation

Communication from the Commission - Global Europe - Europe's trade defence instruments in a changing global economy - A Green Paper for public consultation

2. The Principal Challenges Today's world is very different from the one in which the Bretton Woods institutions were created The global economy is more integrated and, as a result, all countries have a much greater stake in developments outside their borders World trade has grown steadily, and direct and portfolio investment flows have increased sharply in recent years Capital market liberalisation, technological change, and financial innovation have transformed the global financial landscape -- with great benefits, but also new risks There is a much greater consensus on the role of the market, economic incentives, and open policies, an ...[+++]d much less faith in dirigiste solutions to economic problems A variety of new global challenges have emerged in areas such as environmental stewardship and the importance of good governance The influence of developing countries in the world economy is growing, yet, a large portion of the world' s population still live in extraordinary poverty The imperative of continued transition in the countries of Central and Eastern Europe, the former Soviet Union, and elsewhere remains clear.

It will be recalling its guiding principles in the trade negotiations, namely the need for an expansion of trade in goods and services to ensure the development of the world economy, the importance of a consistent approach to economic, monetary and financial issues to restore the balance of the world economy, and the need for developing countries to participate more fully in international trade - a greater degree of involvement in the world economy would make them trading partners of considerable potential.

The interdependence of the world economy left no choice but for the three main trading partners to share responsibility for supplying international trade with the driving force it needed.

This government's first priority at the G20 is to ensure that it follows through on its shared responsibility to steer the global economy out of the recession and to build a stronger global economy that is rooted in sustainable growth and prosperity for all.