The Post-Washington Consensus: Development after the Crisis - 0 views
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Giorgio Bertini on 23 Mar 11All this signals a clear shift in the development agenda. Traditionally, this was an agenda generated in the developed world that was implemented in - and, indeed, often imposed on - the developing world. The United States, Europe, and Japan will continue to be significant sources of economic resources and ideas, but the emerging markets are now entering this arena and will become significant players. Countries such as Brazil, China, India, and South Africa will be both donors and recipients of resources for development and of best practices for how to use them. A large portion of the world's poor live within their borders, yet they have achieved new respect on the global scene in economic, political, and intellectual terms. In fact, development has never been something that the rich bestowed on the poor but rather something the poor achieved for themselves. It appears that the Western powers are finally waking up to this truth in light of a financial crisis that, for them, is by no means over.
