{"disclaimer":"Transcripts available through this tool are created by using automatic speech recognition and are not official records nor official documents of the United Nations. Official records and official documents are available on the Official Document System of the United Nations.","url":"https://transcripts.un.org/en/asset/k11/k11kng9drr","llms":{"note":"Plain-text sibling of this page, compact for LLM context. 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with apologies for the very slight delay, thanking you who are in the room and joining us online, I give the floor to the Acting Secretary General, Mr. Moreno, so he can present today's 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will later take you in some detail through it.","start":80.35,"end":82.59,"topics":[],"words":[{"text":"She","start":80.35,"end":80.51},{"text":"will","start":80.51,"end":80.75},{"text":"later","start":80.75,"end":80.99},{"text":"take","start":80.99,"end":81.15},{"text":"you","start":81.15,"end":81.31},{"text":"in","start":81.31,"end":81.55},{"text":"some","start":81.55,"end":81.87},{"text":"detail","start":81.87,"end":82.27},{"text":"through","start":82.27,"end":82.43},{"text":"it.","start":82.43,"end":82.59}]},{"text":"So why is this year's report significant?","start":83.87,"end":86.59,"topics":[],"words":[{"text":"So","start":83.87,"end":84.11},{"text":"why","start":84.11,"end":84.43},{"text":"is","start":84.51,"end":84.67},{"text":"this","start":84.67,"end":84.83},{"text":"year's","start":84.87,"end":85.15},{"text":"report","start":85.15,"end":85.71},{"text":"significant?","start":85.71,"end":86.59}]},{"text":"It is because we see a new global economy rapidly taking shape and 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Examples included African and Asian payment systems, regional supply chains, and broader South-South cooperation as tools to expand policy space and market access."}],"words":[{"text":"For","start":434.15,"end":434.31},{"text":"developing","start":434.31,"end":434.79},{"text":"countries","start":434.79,"end":435.19},{"text":"to","start":435.19,"end":435.27},{"text":"be","start":435.27,"end":435.47},{"text":"able","start":435.47,"end":435.71},{"text":"to","start":435.71,"end":435.83},{"text":"benefit","start":435.83,"end":436.27},{"text":"from","start":436.27,"end":436.51},{"text":"a","start":436.51,"end":436.55},{"text":"global","start":436.55,"end":436.87},{"text":"economy,","start":436.87,"end":437.43},{"text":"they","start":437.91,"end":438.07},{"text":"need","start":438.07,"end":438.39},{"text":"policy","start":438.39,"end":438.79},{"text":"space","start":438.79,"end":439.43},{"text":"and","start":439.95,"end":440.11},{"text":"predictable","start":440.11,"end":440.75},{"text":"trade","start":440.75,"end":441.03},{"text":"rules","start":441.03,"end":441.51},{"text":"in","start":441.59,"end":441.75},{"text":"a","start":441.75,"end":441.79},{"text":"multilateral","start":441.79,"end":442.47},{"text":"trading","start":442.47,"end":442.83},{"text":"system","start":442.83,"end":443.35},{"text":"that","start":443.75,"end":443.95},{"text":"keeps","start":443.99,"end":444.39},{"text":"non-discrimination","start":444.39,"end":445.59},{"text":"and","start":445.75,"end":445.99},{"text":"spatial","start":445.99,"end":446.63},{"text":"and","start":446.71,"end":447.35},{"text":"differential","start":447.59,"end":448.15},{"text":"treatment","start":448.15,"end":448.71},{"text":"at","start":449.35,"end":449.51},{"text":"its","start":449.59,"end":449.83},{"text":"core.","start":449.83,"end":450.15}]},{"text":"Developing countries need investment and finance to support all these long-term structural change.","start":451.31,"end":456.51,"topics":[{"key":"development-finance-constraints","label":"Development Finance Constraints","description":"Multiple statements raised concern about shrinking official development assistance, rising debt burdens, and more volatile capital flows in developing countries. 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Good morning.","start":545.43,"end":547.03,"topics":[],"words":[{"text":"Thank","start":545.43,"end":545.67},{"text":"you,","start":545.67,"end":545.83},{"text":"ASD.","start":545.83,"end":546.31},{"text":"Good","start":546.39,"end":546.59},{"text":"morning.","start":546.59,"end":547.03}]},{"text":"The question at the heart of our report is a simple one: Can poorer countries still progress even as the rules of globalization are being rewritten?","start":547.99,"end":558.71,"topics":[{"key":"global-trade-realignment","label":"Global Trade Realignment","description":"Speakers described a world economy in which trade and globalization are not collapsing but being reshaped by geopolitics, security concerns, and new trade corridors. 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Speakers linked this performance not just to openness, but to long-term industrial policy, capability building, and deep regional integration."}],"words":[{"text":"Manufacturing","start":566.19,"end":566.99},{"text":"drove","start":566.99,"end":567.39},{"text":"that","start":567.39,"end":567.67},{"text":"transformation,","start":567.67,"end":568.59},{"text":"while","start":568.83,"end":569.23},{"text":"exports","start":569.23,"end":569.79},{"text":"opened","start":569.79,"end":570.19},{"text":"the","start":570.19,"end":570.35},{"text":"door","start":570.35,"end":570.59},{"text":"to","start":570.59,"end":570.75},{"text":"international","start":570.75,"end":571.39},{"text":"integration","start":571.39,"end":572.11},{"text":"and","start":572.11,"end":572.27},{"text":"growth.","start":572.27,"end":572.75}]},{"text":"Today, all three of these are faltering.","start":573.79,"end":576.19,"topics":[],"words":[{"text":"Today,","start":573.79,"end":574.43},{"text":"all","start":574.43,"end":574.67},{"text":"three","start":574.67,"end":574.91},{"text":"of","start":574.91,"end":574.99},{"text":"these","start":574.99,"end":575.39},{"text":"are","start":575.39,"end":575.47},{"text":"faltering.","start":575.47,"end":576.19}]},{"text":"Manufacturing is diminishing as a driver of growth.","start":576.75,"end":579.59,"topics":[],"words":[{"text":"Manufacturing","start":576.75,"end":577.55},{"text":"is","start":577.55,"end":577.79},{"text":"diminishing","start":577.79,"end":578.51},{"text":"as","start":578.51,"end":578.75},{"text":"a","start":578.75,"end":578.79},{"text":"driver","start":578.79,"end":579.19},{"text":"of","start":579.19,"end":579.31},{"text":"growth.","start":579.31,"end":579.59}]},{"text":"Merchandise trade is slowing.","start":580.19,"end":581.95,"topics":[{"key":"global-trade-realignment","label":"Global Trade Realignment","description":"Speakers described a world economy in which trade and globalization are not collapsing but being reshaped by geopolitics, security concerns, and new trade corridors. 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The discussion highlighted risks that developing economies will remain suppliers of raw materials and consumers of technology, while also facing possible financial instability from an AI-driven bubble."}],"words":[{"text":"Production","start":601.07,"end":601.59},{"text":"at","start":601.59,"end":601.79},{"text":"value","start":601.79,"end":602.11},{"text":"capture","start":602.11,"end":602.59},{"text":"no","start":602.91,"end":603.15},{"text":"longer","start":603.15,"end":603.55},{"text":"follows","start":603.55,"end":603.87},{"text":"production.","start":603.87,"end":604.51}]},{"text":"Production itself is becoming more and more specialized.","start":604.75,"end":608.03,"topics":[],"words":[{"text":"Production","start":604.75,"end":605.31},{"text":"itself","start":605.31,"end":605.87},{"text":"is","start":605.95,"end":606.19},{"text":"becoming","start":606.19,"end":606.67},{"text":"more","start":606.67,"end":606.87},{"text":"and","start":606.87,"end":606.99},{"text":"more","start":606.99,"end":607.15},{"text":"specialized.","start":607.15,"end":608.03}]},{"text":"Only a fraction of investment by companies is now driven by traditional concerns such as low labor costs.","start":608.43,"end":615.47,"topics":[],"words":[{"text":"Only","start":608.43,"end":608.83},{"text":"a","start":608.83,"end":608.87},{"text":"fraction","start":608.87,"end":609.55},{"text":"of","start":609.79,"end":609.91},{"text":"investment","start":609.91,"end":610.59},{"text":"by","start":610.67,"end":610.91},{"text":"companies","start":610.91,"end":611.55},{"text":"is","start":611.55,"end":611.71},{"text":"now","start":611.71,"end":611.87},{"text":"driven","start":611.87,"end":612.35},{"text":"by","start":612.35,"end":612.51},{"text":"traditional","start":612.51,"end":613.07},{"text":"concerns","start":613.07,"end":613.71},{"text":"such","start":613.87,"end":614.27},{"text":"as","start":614.27,"end":614.43},{"text":"low","start":614.43,"end":614.59},{"text":"labor","start":614.59,"end":614.99},{"text":"costs.","start":614.99,"end":615.47}]},{"text":"Instead, value is moving into strategic sectors, semiconductors, artificial intelligence, clean energy, advanced computing, where the barriers to entry are high and rising.","start":616.07,"end":628.55,"topics":[{"key":"ai-development-gap","label":"Artificial Intelligence and the Development Gap","description":"Several interventions examined how the AI boom is concentrating value, profits, technology, and market power in a small number of firms and countries. 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The discussion emphasized policies for local processing, infrastructure, skills, and downstream industries so producing countries can retain more developmental gains."}],"words":[{"text":"In","start":643.11,"end":643.27},{"text":"this","start":643.27,"end":643.47},{"text":"particular","start":643.47,"end":644.15},{"text":"AI","start":644.15,"end":644.47},{"text":"value","start":644.47,"end":644.87},{"text":"chain,","start":644.87,"end":645.35},{"text":"they","start":645.59,"end":645.79},{"text":"receive","start":645.79,"end":646.15},{"text":"less","start":646.15,"end":646.39},{"text":"than","start":646.39,"end":646.55},{"text":"15.","start":646.55,"end":647.27}]},{"text":"Four groups of suppliers capture 82% of profit, and most developing economies contribute only raw materials amounting to less than 1% of the final value of the server at best.","start":648.15,"end":661.43,"topics":[{"key":"ai-development-gap","label":"Artificial Intelligence and the Development Gap","description":"Several interventions examined how the AI boom is concentrating value, profits, technology, and market power in a small number of firms and countries. 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The discussion focused on how this rewiring creates opportunities for some countries while leaving others more exposed to fragmentation and exclusion."}],"words":[{"text":"Globalization","start":703.39,"end":704.35},{"text":"was","start":704.35,"end":704.59},{"text":"never","start":704.59,"end":704.95},{"text":"really","start":704.95,"end":705.19},{"text":"purely","start":705.19,"end":705.63},{"text":"an","start":705.63,"end":705.75},{"text":"economic","start":705.75,"end":706.27},{"text":"process,","start":706.27,"end":706.83},{"text":"but","start":707.07,"end":707.31},{"text":"a","start":707.31,"end":707.35},{"text":"political","start":707.35,"end":707.91},{"text":"economy","start":707.91,"end":708.35},{"text":"one.","start":708.35,"end":708.67}]},{"text":"What has changed is the premise beneath it.","start":709.27,"end":711.95,"topics":[],"words":[{"text":"What","start":709.27,"end":709.47},{"text":"has","start":709.47,"end":709.79},{"text":"changed","start":709.79,"end":710.27},{"text":"is","start":710.51,"end":710.75},{"text":"the","start":710.75,"end":710.87},{"text":"premise","start":710.87,"end":711.31},{"text":"beneath","start":711.31,"end":711.71},{"text":"it.","start":711.71,"end":711.95}]},{"text":"The old promise of market-led globalization, that openness alone would spread prosperity, no longer holds.","start":712.35,"end":718.83,"topics":[{"key":"global-trade-realignment","label":"Global Trade Realignment","description":"Speakers described a world economy in which trade and globalization are not collapsing but being reshaped by geopolitics, security concerns, and new trade corridors. 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Speakers linked this performance not just to openness, but to long-term industrial policy, capability building, and deep regional integration."}],"words":[{"text":"Against","start":732.11,"end":732.51},{"text":"this","start":732.51,"end":732.75},{"text":"challenging","start":732.75,"end":733.31},{"text":"context,","start":733.31,"end":734.03},{"text":"one","start":734.03,"end":734.43},{"text":"region","start":734.43,"end":734.75},{"text":"does","start":734.75,"end":735.03},{"text":"stand","start":735.03,"end":735.47},{"text":"out.","start":735.47,"end":735.87}]},{"text":"Even as the economy slows, Asia will contribute 60% of global growth this year.","start":736.51,"end":742.43,"topics":[{"key":"asia-industrial-policy","label":"Asia’s Resilience and Industrial Policy","description":"Asia was presented as the main region showing strong resilience, growth, and convergence under difficult global conditions. 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Speakers linked this performance not just to openness, but to long-term industrial policy, capability building, and deep regional integration."}],"words":[{"text":"For","start":761.83,"end":761.99},{"text":"the","start":761.99,"end":762.11},{"text":"vast","start":762.11,"end":762.35},{"text":"majority","start":762.35,"end":762.91},{"text":"of","start":762.91,"end":763.03},{"text":"developing","start":763.03,"end":763.59},{"text":"countries,","start":763.59,"end":764.07},{"text":"that","start":764.39,"end":764.63},{"text":"convergence","start":764.63,"end":765.27},{"text":"has","start":765.27,"end":765.43},{"text":"receded","start":765.43,"end":766.07},{"text":"since","start":766.23,"end":766.63},{"text":"the","start":766.63,"end":766.79},{"text":"mid-2010s.","start":766.79,"end":767.91}]},{"text":"Why has Asia fared better?","start":768.95,"end":770.51,"topics":[{"key":"asia-industrial-policy","label":"Asia’s Resilience and Industrial Policy","description":"Asia was presented as the main region showing strong resilience, growth, and convergence under difficult global conditions. Speakers linked this performance not just to openness, but to long-term industrial policy, capability building, and deep regional integration."}],"words":[{"text":"Why","start":768.95,"end":769.19},{"text":"has","start":769.19,"end":769.51},{"text":"Asia","start":769.51,"end":769.83},{"text":"fared","start":769.83,"end":770.15},{"text":"better?","start":770.15,"end":770.51}]},{"text":"Not through good fortune and not through openness alone.","start":771.19,"end":773.91,"topics":[{"key":"asia-industrial-policy","label":"Asia’s Resilience and Industrial Policy","description":"Asia was presented as the main region showing strong resilience, growth, and convergence under difficult global conditions. Speakers linked this performance not just to openness, but to long-term industrial policy, capability building, and deep regional integration."}],"words":[{"text":"Not","start":771.19,"end":771.47},{"text":"through","start":771.47,"end":771.67},{"text":"good","start":771.67,"end":771.87},{"text":"fortune","start":771.87,"end":772.39},{"text":"and","start":772.39,"end":772.67},{"text":"not","start":772.67,"end":772.83},{"text":"through","start":772.83,"end":773.03},{"text":"openness","start":773.03,"end":773.51},{"text":"alone.","start":773.51,"end":773.91}]},{"text":"Malaysia's trajectory is instructive.","start":774.55,"end":776.71,"topics":[],"words":[{"text":"Malaysia's","start":774.55,"end":775.19},{"text":"trajectory","start":775.19,"end":775.87},{"text":"is","start":775.87,"end":775.99},{"text":"instructive.","start":775.99,"end":776.71}]},{"text":"Five decades of sustained industrial policy, moving step by step up the electronics value chain.","start":777.11,"end":783.79,"topics":[{"key":"asia-industrial-policy","label":"Asia’s Resilience and Industrial Policy","description":"Asia was presented as the main region showing strong resilience, growth, and convergence under difficult global conditions. Speakers linked this performance not just to openness, but to long-term industrial policy, capability building, and deep regional integration."}],"words":[{"text":"Five","start":777.11,"end":777.51},{"text":"decades","start":777.51,"end":777.95},{"text":"of","start":777.95,"end":778.07},{"text":"sustained","start":778.07,"end":778.63},{"text":"industrial","start":778.63,"end":779.15},{"text":"policy,","start":779.15,"end":779.75},{"text":"moving","start":780.15,"end":780.47},{"text":"step","start":780.47,"end":780.75},{"text":"by","start":780.75,"end":781.03},{"text":"step","start":781.03,"end":781.43},{"text":"up","start":782.03,"end":782.19},{"text":"the","start":782.19,"end":782.31},{"text":"electronics","start":782.31,"end":783.07},{"text":"value","start":783.07,"end":783.35},{"text":"chain.","start":783.35,"end":783.79}]},{"text":"And where national capabilities reach their limits, Asian economies have deepened regional integration, sustaining it even in the face of geopolitical and economic risks.","start":784.35,"end":796.03,"topics":[{"key":"regional-integration","label":"Regional Integration and South-South Cooperation","description":"Participants repeatedly stressed that developing countries need stronger regional trade, payment, financial, and digital linkages to avoid marginalization. Examples included African and Asian payment systems, regional supply chains, and broader South-South cooperation as tools to expand policy space and market access."}],"words":[{"text":"And","start":784.35,"end":784.55},{"text":"where","start":784.55,"end":784.71},{"text":"national","start":784.71,"end":785.15},{"text":"capabilities","start":785.15,"end":786.03},{"text":"reach","start":786.03,"end":786.27},{"text":"their","start":786.27,"end":786.43},{"text":"limits,","start":786.43,"end":786.91},{"text":"Asian","start":787.23,"end":787.95},{"text":"economies","start":788.27,"end":789.15},{"text":"have","start":789.15,"end":789.39},{"text":"deepened","start":789.39,"end":789.87},{"text":"regional","start":789.87,"end":790.27},{"text":"integration,","start":790.27,"end":791.07},{"text":"sustaining","start":791.47,"end":792.19},{"text":"it","start":792.19,"end":792.43},{"text":"even","start":792.43,"end":792.67},{"text":"in","start":792.67,"end":792.83},{"text":"the","start":792.83,"end":792.95},{"text":"face","start":792.95,"end":793.31},{"text":"of","start":793.31,"end":793.39},{"text":"geopolitical","start":793.39,"end":794.35},{"text":"and","start":794.75,"end":794.99},{"text":"economic","start":795.03,"end":795.55},{"text":"risks.","start":795.55,"end":796.03}]},{"text":"Here lies the central finding of the report.","start":796.91,"end":799.15,"topics":[],"words":[{"text":"Here","start":796.91,"end":797.15},{"text":"lies","start":797.15,"end":797.47},{"text":"the","start":797.47,"end":797.59},{"text":"central","start":797.59,"end":797.95},{"text":"finding","start":797.95,"end":798.43},{"text":"of","start":798.43,"end":798.51},{"text":"the","start":798.51,"end":798.63},{"text":"report.","start":798.63,"end":799.15}]},{"text":"Asia's success is not a template that can be readily transferred.","start":799.87,"end":803.71,"topics":[],"words":[{"text":"Asia's","start":799.87,"end":800.31},{"text":"success","start":800.31,"end":800.75},{"text":"is","start":800.75,"end":800.95},{"text":"not","start":800.95,"end":801.23},{"text":"a","start":801.23,"end":801.27},{"text":"template","start":801.27,"end":801.87},{"text":"that","start":802.11,"end":802.35},{"text":"can","start":802.35,"end":802.51},{"text":"be","start":802.51,"end":802.63},{"text":"readily","start":802.63,"end":802.99},{"text":"transferred.","start":802.99,"end":803.71}]},{"text":"It rests on an alignment of scale, timing, accumulated capability built over decades.","start":804.27,"end":810.83,"topics":[{"key":"asia-industrial-policy","label":"Asia’s Resilience and Industrial Policy","description":"Asia was presented as the main region showing strong resilience, growth, and convergence under difficult global conditions. Speakers linked this performance not just to openness, but to long-term industrial policy, capability building, and deep regional integration."}],"words":[{"text":"It","start":804.27,"end":804.51},{"text":"rests","start":804.51,"end":804.91},{"text":"on","start":804.91,"end":805.31},{"text":"an","start":805.35,"end":805.51},{"text":"alignment","start":805.51,"end":806.07},{"text":"of","start":806.07,"end":806.19},{"text":"scale,","start":806.19,"end":806.75},{"text":"timing,","start":806.91,"end":807.47},{"text":"accumulated","start":807.55,"end":808.35},{"text":"capability","start":808.35,"end":809.23},{"text":"built","start":809.47,"end":809.95},{"text":"over","start":809.95,"end":810.19},{"text":"decades.","start":810.19,"end":810.83}]},{"text":"Yet under due economic pressures, even successful cases like Malaysia face a ceiling.","start":811.55,"end":817.23,"topics":[],"words":[{"text":"Yet","start":811.55,"end":811.79},{"text":"under","start":811.79,"end":812.11},{"text":"due","start":812.11,"end":812.39},{"text":"economic","start":812.39,"end":812.99},{"text":"pressures,","start":812.99,"end":813.55},{"text":"even","start":813.63,"end":813.87},{"text":"successful","start":813.87,"end":814.51},{"text":"cases","start":814.51,"end":814.99},{"text":"like","start":814.99,"end":815.31},{"text":"Malaysia","start":815.31,"end":815.95},{"text":"face","start":816.27,"end":816.75},{"text":"a","start":816.75,"end":816.79},{"text":"ceiling.","start":816.79,"end":817.23}]},{"text":"The highest value activities, chip design, advanced fabrication, stay in the hands of a few established firms, impeding further progress.","start":817.87,"end":826.75,"topics":[{"key":"ai-development-gap","label":"Artificial Intelligence and the Development Gap","description":"Several interventions examined how the AI boom is concentrating value, profits, technology, and market power in a small number of firms and countries. 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lead authors of the chapters and the writing teams are in the room, and we can address the specific questions or queries 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you very much.","start":931.19,"end":931.91,"topics":[],"words":[{"text":"Thank","start":931.19,"end":931.39},{"text":"you","start":931.39,"end":931.47},{"text":"very","start":931.47,"end":931.67},{"text":"much.","start":931.67,"end":931.91}]}]}],"speaker":{"affiliation":"UNCTAD","group":null,"function":"Head, Macroeconomic and Development Policy Branch","affiliation_full":"UNCTAD"}},{"statement_number":4,"start":935.19,"pageUrl":"/en/asset/k11/k11kng9drr?t=15:36","paragraphs":[{"sentences":[{"text":"Thank you very much.","start":935.19,"end":935.99,"topics":[],"words":[{"text":"Thank","start":935.19,"end":935.43},{"text":"you","start":935.43,"end":935.51},{"text":"very","start":935.51,"end":935.71},{"text":"much.","start":935.71,"end":935.99}]},{"text":"We now open the floor for questions, and please go ahead, 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Thank you.","start":942.39,"end":943.23,"topics":[],"words":[{"text":"Good","start":942.39,"end":942.55},{"text":"morning.","start":942.55,"end":942.79},{"text":"Thank","start":942.79,"end":943.03},{"text":"you.","start":943.03,"end":943.23}]},{"text":"It's Olivier Le Poitve from Reuters.","start":943.23,"end":945.83,"topics":[],"words":[{"text":"It's","start":943.23,"end":943.55},{"text":"Olivier","start":943.55,"end":944.07},{"text":"Le","start":944.07,"end":944.15},{"text":"Poitve","start":944.15,"end":944.47},{"text":"from","start":944.55,"end":945.03},{"text":"Reuters.","start":945.03,"end":945.83}]},{"text":"Just really interested in what you're saying there about, you know, the AI boom, but how it's highly concentrated.","start":946.47,"end":952.55,"topics":[{"key":"ai-development-gap","label":"Artificial Intelligence and the Development Gap","description":"Several interventions examined how the AI boom is concentrating value, profits, technology, and market power in a small number of firms and countries. 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wanted to just try to get your outlook as to how can these development rates, how can the growth rates be better equalized in developing 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can be done specifically to ensure that the growth in the global economy is fairly distributed to countries in the developing 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The discussion framed these financial pressures as major obstacles to structural transformation, social spending, and long-term development."}],"words":[{"text":"You","start":1686.35,"end":1686.59},{"text":"mentioned","start":1686.59,"end":1687.11},{"text":"3.7","start":1687.11,"end":1688.19},{"text":"billion","start":1688.19,"end":1688.59},{"text":"people.","start":1688.59,"end":1689.15}]},{"text":"are living in countries that are spending more on debt than on health and education.","start":1690.87,"end":1695.19,"topics":[{"key":"development-finance-constraints","label":"Development Finance Constraints","description":"Multiple statements raised concern about shrinking official development assistance, rising debt burdens, and more volatile capital flows in developing countries. 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there anything like a silver bullet here in your report that really is breaking new ground?","start":2127.75,"end":2132.79,"topics":[],"words":[{"text":"Is","start":2127.75,"end":2127.91},{"text":"there","start":2127.91,"end":2128.07},{"text":"anything","start":2128.07,"end":2128.47},{"text":"like","start":2128.47,"end":2128.79},{"text":"a","start":2128.95,"end":2128.99},{"text":"silver","start":2128.99,"end":2129.39},{"text":"bullet","start":2129.39,"end":2129.75},{"text":"here","start":2129.75,"end":2130.15},{"text":"in","start":2130.15,"end":2130.31},{"text":"your","start":2130.31,"end":2130.43},{"text":"report","start":2130.43,"end":2130.95},{"text":"that","start":2130.95,"end":2131.19},{"text":"really","start":2131.19,"end":2131.51},{"text":"is","start":2131.51,"end":2131.75},{"text":"breaking","start":2131.91,"end":2132.27},{"text":"new","start":2132.27,"end":2132.39},{"text":"ground?","start":2132.39,"end":2132.79}]},{"text":"Thank you so 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I'm Bless Ocario from Business Mirror.","start":2219.87,"end":2222.35,"topics":[],"words":[{"text":"Good","start":2219.87,"end":2220.03},{"text":"afternoon.","start":2220.03,"end":2220.55},{"text":"I'm","start":2220.55,"end":2220.75},{"text":"Bless","start":2220.75,"end":2220.99},{"text":"Ocario","start":2220.99,"end":2221.31},{"text":"from","start":2221.39,"end":2221.59},{"text":"Business","start":2221.59,"end":2221.95},{"text":"Mirror.","start":2221.95,"end":2222.35}]},{"text":"I just wanted to ask, since Otag projected a 4 percent global trade growth this year, and it was also mentioned that most Asian economies are resilient, so I would just like to ask more specifically about the Philippines.","start":2222.35,"end":2234.99,"topics":[{"key":"asia-industrial-policy","label":"Asia’s Resilience and Industrial Policy","description":"Asia was presented as the main region showing strong resilience, growth, and convergence under difficult global conditions. 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Hindi and Indonesian, so to make sure that it reaches developing countries who are at the heart of what we 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