Developed market economies 2.4 0.7 1.6 1.0 2¼ 2¾

Developed market economies were growing again, but continued to suffer from rising unemployment.

The developed market economies recorded further gains as the region apos s main supplier.

The developed market economies still account for over 50 per cent of world stocks.

But, as a group, emerging market economies have been negatively affected by the recent downturn in developed countries.

Their enterprise cannot be achieved without the constant support of developed States with long established free market economies.

Finally, in contrast to developing economies in the rest of the world, developing economies in the region are less protective than developed market economy countries.

The modest recovery in developed market economies in 1992 has stalled in 1993. Growth forecasts have been continually revised downwards.

Therefore, market economies were inherently unstable.

Stronger economic activity in the developed market economies and a reduced contraction of output in the economies in transition are expected to boost the growth of world trade in 1993.

In 1993, they accounted for almost 80 per cent of the growth of world trade, as trade of the developed market economies stagnated.

Similar lessons are relevant in emerging market economies.

Even the developed economies are in deep crisis.

Table 1 Net transfer of financial resources to selected developed economies, developing economies and economies in transition, 1993 2004

In terms of market developments, developed country providers have been present in the markets of developing countries and economies in transition in many different forms.

So today s emerging market economies should be richer than today s advanced economies were back then, right?

In order to avoid volatility in capital flows to developing countries, non inflationary growth in developed market economies and reasonably stable interest rates were also necessary.

As firms consolidate market share, they gain economies of scale.

The emerging market economies are at risk as a result.

Traditionally, sovereign risk has been concentrated in emerging market economies.

Indeed, growth in many emerging market economies starting with China is highly dependent on retrenching advanced economies.

The virtual stagnation of world output in 1992 was largely the result of two major developments. First, developed market economies grew by a mere 1.5 per cent.

On the positive side, the sluggish growth in the developed market economies reinforced the downward trend of inflation in 1992 to levels not seen since the 1960s.

They frequently compare the eurozone favorably to other developed economies.

and transition economies, while FDI into developed countries declined further.

(f) A package of technical assistance tools developed for least developed countries with cash based economies

To be sure, political and market volatility in a broad range of emerging market economies will continue.

Proportionately, tourism will grow faster in less developed countries than in developed economies over the next ten years, and there is a growing market interest in rural and activity tourism compared with staying in traditional resorts.

Economic and financial crimes introduce critical distortions into free market economies.

Moreover, the efforts of developing countries should be supported through the promotion of market access for the exports and the maintenance of sustained economic growth in developed economies.

As national economies and multinational companies compete for market share, global standards of market behavior become increasingly important.

Noting that some of those countries have evolved from the status of economies in transition into functioning market economies,

As a result, sovereign risk today is a greater problem in advanced economies than in most emerging market economies.

But this market is less developed outside the US.

While emerging economies have out performed developed countries, both have slowed.

Support commodity market development actions that assist developing countries, in particular least developed countries (LDCs), and countries with economies in transition, to function effectively in a liberalized global economy.

Market instability is thus integral to how capitalist economies allocate their savings.

Less advanced and emerging market economies in Europe are facing major challenges.

Resumption of economic growth in Africa, the stabilization of prices, more orderly markets and faster growth in economies in transition and more effective policies of social welfare in developed market economies are steps necessary to improve these conditions of extreme poverty.

Since the second half of the 1980s, global military expenditure has indeed fallen, with the reductions being concentrated among the developed market economies and the economies in transition, which together accounted for about 80 per cent of global military expenditure. 33

13. The recent stagnation in the world economy was largely a reflection of the recession in the developed market economies which account for over 70 per cent of world output.

Of course, developing countries should not simply mimic developed economies tax systems.

Table 4 Unemployment rate, selected developed economies and regions, 2002 2004 (Percentage)

a Figures are total net transfers of the five developed economies listed.

I'm talking about what exists in rich developed market democracies.