U.S. & Developing Countries in Age of Globalization

Richard Newfarmer
Economic Advisor, Economic Policy and Prospects Group of the World Bank

The world economy is becoming more integrated and the developing countries are becoming more important to the U.S. Trade, finance and technology are integral aspects of globalization. However, there are challenges and risks associated with globalization as well and they need to be managed. Newfarmer argues that Americans have a fundamental interest in promoting development abroad and in promoting the positive aspects of globalization. He will discuss American interests in promoting development as well as the role of the World Bank in this "Age of Globalization".