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GENEVA, Aug 31: The UN’s trade and development agency on Thursday called on poor nations to be more interventionist and to strengthen their national economies in a similar manner to China.
The annual report from the Unctad said standard reforms and deregulation promoted by the World Bank and IMF had failed to create enough growth or cut poverty.
The advocacy of government intervention counters dominant economic thinking in many Western countries which holds that open economies and free trade offer the best solution for the poor.—AFP
