{"id":166,"date":"2007-09-06T14:33:24","date_gmt":"2007-09-06T14:33:24","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/commodities\/un-calls-for-curbs-on-currency-speculators\/"},"modified":"2007-09-06T14:33:24","modified_gmt":"2007-09-06T14:33:24","slug":"un-calls-for-curbs-on-currency-speculators","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2007\/09\/06\/un-calls-for-curbs-on-currency-speculators\/","title":{"rendered":"UN calls for curbs on currency speculators"},"content":{"rendered":"<p><font size=\"2\"><strong>Poverty reduction and wealth creation &#8211; the dreams of millions of people throughout the developing world &#8211; could be about to be dashed unless the powers of current economic forces are harnessed, a report by a United Nations (UN) agency warns.<\/strong> <\/font><!-- S IIMA --><\/p>\n<table cellspacing=\"0\" cellpadding=\"0\" width=\"203\" align=\"right\" border=\"0\">\n<tr>\n<td>\n<div><font size=\"2\"><img loading=\"lazy\" decoding=\"async\" height=\"152\" alt=\"A worker stand next to copper cathode sheets being loaded into a truck at the Dachang refinery in Shanghai \" src=\"http:\/\/newsimg.bbc.co.uk\/media\/images\/41138000\/jpg\/_41138468_copperafp203b.jpg\" width=\"203\" border=\"0\" \/><\/font><\/p>\n<div class=\"cap\">Commodity exports have boosted economic growth in many countries<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><!-- E IIMA --><\/p>\n<p>In recent years, economic growth has been exceptionally strong in many of the world&#8217;s poorest nations.<\/p>\n<p>In the developing world, gross domestic product per head grew almost 30% between 2003 and 2007, the report notes.<\/p>\n<p>However, the harsh truth is that it has come about, not because of clever economic management, but as a result of rapidly rising commodity prices.<\/p>\n<p>Now, insists Heiner Flassbeck, author of the Trade and Development Report 2007, it is time for poor countries to invest the proceeds from the sale of commodities &#8211; such as oil, copper or sugar &#8211; to enable other sectors of the economy to grow.<\/p>\n<p>&#8220;The window of opportunity, the windfalls, are still remarkable, and this should be used to diversify their economies,&#8221; says Mr Flassbeck.<\/p>\n<p>Developing nations &#8211; and indeed the world at large &#8211; must &#8220;develop ideas and patterns of successful diversification&#8221; to reduce their reliance on commodity exports, he says.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Poverty reduction and wealth creation &#8211; the dreams of millions of people throughout the developing world &#8211; could be about<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[8],"tags":[],"class_list":["post-166","post","type-post","status-publish","format-standard","hentry","category-commodities"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/166","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=166"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/166\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=166"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}