Development challenge Of globalization

This phenomenon that we call globalization, if properly harnessed and managed, can drive the engine of sustained economic growth and real development in this new century. Development must create a modern but humane society, and raise the quality of life of all peoples, especially those who are disadvantaged, vulnerable and marginalized. This society that we envision is rooted in peace, sustainable development and respect for human dignity.

This society has three very critical aspects that have to be emphasized. First, it has evolved a mature political structure with strong, responsible institutions that engender international understanding and are based on mutually shared perspectives about humanity’s common destiny. Second, it has developed a viable economic regime with effective, adequate mechanisms like open markets, that facilitate growth in trade and commerce and are constantly improving the living standards of all peoples across oceans and across continents. Third, it has established a reliable social foundation in which there are proactive, progressive organizations-governmental and non-governmental – that are able to care for the disadvantaged and support people’s empowerment.