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Rules, Rationales and Results
Mr M. Rao presented this seminar on 9 November 2002,
focusing on the importance of a gradual and measured integration of
Syria and other developing countries into the world market. In fact, as
confirmed by economic data, a policy of unrestricted openness threats
both economic stability and economic development. With regard to
privatization he highlighted the fact that the existence of a market and
of private enterprises, by itself does not guarantee efficiency, high
quality and transparency. Indeed, private ownership without control can
easily lead to corruption and lack of accountability. Accordingly, Mr
Rao concluded by stressing that, as the world market is not
self-regulating, a fundamental and complex problem of global governance
is becoming increasingly evident.
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