| |
| | UNCERTAIN IMPACT OF 11 SEPTEMBER EVENTS, SLOWING GLOBAL ECONOMY EXAMINED AS SECOND COMMITTEE OPENS GENERAL DEBATE |
 | | Opening the general debate of the Second Committee (Economic and Financial) this morning, Nitin Desai, Under-Secretary-General for Economic and Social Affairs, said it was still premature to assess the impact of the 11 September terrorist attacks on the global economy. However, there were already indications that the global economic slowdown was much deeper than expected. |
 | | Before 11 September, he said, industrial production was already falling and there had been a substantial downward movement in equity prices as well as a decrease in foreign direct investment (FDI). The further impact of the attacks would depend on its effects on consumer confidence and capital flows between countries. |
 | | Concerns about globalization, he said, had also focused on the vulnerability of countries, which was essentially structural in nature. Among the vulnerabilities were those arising from finance and investment, private capital flows, international liquidity, international trade and natural disasters. |
| www.un.org /News/Press/docs/2001/gaef2952.doc.htm (375 words) |
|