Dirk Willem te Velde: G20 working towards a ‘beyond-aid’ strategy

A post by Dirk Willem te Velde on the UK’s Overseas Development Institute (ODI) blog analyzes the new development agenda that is being discussed by the G20. This is happening while high-pressure negotiations on economic stimulus plans are being conducted that should prevent a currency war. The United States is planning to pump a further US$600 billion into its economy, for example. This will drive down the US dollar even more, and put an extra strain on foreign deficits.

Te Velde argues that a new strategy that centres on trade, investment and growth constitutes a ‘beyond-aid development policy’, because of its special emphasis on (governmenmental) infrastructure, skills transfers and knowledge sharing. Global economic reform that takes the interests of developing countries seriously is a real possibility. The representatives of these countries and knowledge institutes studying development should be given more opportunity to have their say at meetings held by the world´s superpowers.