strategy
Diversifying economies in developing countries
Context:
No world order can succeed in its objectives if it does not accommodate diversity. To do this, the World Trade Organization (WTO) process needs to restore the balance between the basic responsibility and accountability of governments towards their people and the requirements of an international system. It should respect the different priorities of countries at various stages of development. The acceptance of divergent development strategies is crucial, because development cannot be viewed in simple terms of per capita income. It is a multi-dimensional process, and each country should have the autonomy and flexibility to decide how it prioritizes these dimensions. Implementation:
This strategy features in the framework of Agenda 21 as formulated at UNCED (Rio de Janeiro, 1992), now coordinated by the United Nations Commission on Sustainable Development and implemented through national and local authorities.Diversification initiatives of developing countries may be supported at at the local, regional and international levels.
Broader:
Diversifying Narrower:
Diversifying local economiesDiversifying national economiesDemonstrating supplemental fishing meansIncreasing diversification in subsistence economies Facilitates:
Improving accessibility of land resourcesStrengthening sustainable development through trade cooperation Facilitated by:
Promoting interests of developing countries in world trade agreementsCompensating developing countries for shortfalls in commodity export earnings Problems:
Economic underdevelopmentSubjects:
Economics → EconomyType Classification:
C: Cross-sectoral strategies Related UN Sustainable Development Goals:
