Patrick Bond makes a critical analysis of the developments made in 2006 on the economic front. His review begins by explaining the optimism one had in 2005 with all the awareness that was raised around aid, debt, global governance and the Millennium Development Goals (MDGs). He then moves on to discuss debt traps and phantom aid. Here he touches on the costs of trade liberalization and ‘dumping’ of subsidized goods in developing countries. Other major topics are aid, debt and the distractions from attaining the MDGs target.

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