Notwithstanding the hard lessons of the recent past, i believe the course most countries, including the Philippines, have taken in joining the WTO was the right one. Globalization is here to stay, but there is much we can do to manage and refashion it into something that better serves humanity. The interplay of the actors in globalization must be orchestrated so that all will aim not only for economic growth and financial stability but also for people empowerment in terms of equal access to opportunity, social justice and human security in its widest sense.
Governments must face up to their responsibility to function with transparency and efficiency, and strive for governance that combines economic development, environmental protection and human security. Developing countries must reassess their liberalization policies and endeavor to strike a balance among the roles of the state and the market, and the needs of the poor. Mainstreaming trade into the wider development agenda of reducing poverty should be a central consideration.
In this regard, the Doha round can truly become a "development round" if there is greater coherence and convergence of policies among international economic institutions -- such as the WTO, World Bank, IMF, and the WIPO -- so that trade is mainstreamed in the development agenda and, therefore, capacity-building can be focused, targeted and achieved. It is also essential to review special and differential treatment being espoused by the affluent nations beyond just the time-phasing of commitments• capacity-building and sufficient flexibility to pursue domestic development goals are equally essential.
Today, the challenge before our countries is for them to grasp the opportunities globalization presents -- while working together to minimize our shared vulnerabilities to its risks. Ultimately, the countries best able to take full advantage of globalization will be those that cultivate open societies, free economies and democratic governance.
In the world of the future, every state will need increasingly to work within the framework of a global market, to attain the kinder world to which mankind aspires. To that end, the response mechanisms of the free market will probably be better-suited than the formally legalistic and treaty-bound decisions of governments.
Functionally distinct components of each nation-state should link up more and more with their foreign counterparts -- forming a dense web of sectoral networks that will eventually make up a veritable trans-governmental order. Likewise, the GO-NGO partnership between government agencies and non-government organizations and civil society would most likely deepen and broaden for the overall equitable distribution of benefits.