World Bank Urges Lower Trade Barriers

World Bank Urges Lower Trade Barriers
New York Times
Date of Article: 04/14/03
Article by: The Associated Press


The article states that the World Bank is urging well-off countries to lower their trade barriers. According to the World Bank, global poverty can be cut in half by 2015 if rich countries will lower their trade barriers and also increase foreign aid. The article also speaks of the need for developing countries to invest heavily in education, and that education, coupled with lower trade barriers in developed countries is the recipe for success.
However, a new World Bank report states that even if worldwide economic growth attains its projected/anticipated growth levels, poverty will still be very severe in Africa where there is an expected increase in poverty levels.
The U.S. has offered $100 million dollars for low interest, long-term loans to developing countries and is challenging the rest of the developed wo...