Phần lớn đã được thực hiện để tạo điều kiện cho xóa đói giảm nghèo. Các sáng kiến địa phương và các "giải pháp châu Phi cho các vấn đề châu Phi" là tốt nhất. Tuy nhiên, sự giúp đỡ bên ngoài là rất quan trọng để đảm bảo rằng châu Phi đã được bao gồm trong tiến trình toàn cầu. | Global just-intime production system Role and influence of private financial agencies greatly increased Global financial system plagued by financial crises other technologically sophisticated functions are carried out in the industrialized countries. 161. In the labour-intensive consumer industries the picture is quite different. The MNEs design the product specify the product quality and so on and then outsource its production to local firms in developing countries. They also exercise control over the quality and timing of production which is often subjected to changes in design and volume. The driving force is the flexible and timely adjustment to changes in consumer demand with minimal inventory costs. It is a global just-in-time production system. The MNEs also control the marketing of the product branding and logos are an important source of market power and incidentally of large fortunes. 162. A notable feature of the growth of these global production systems is that it has occurred without the parallel development of multilateral rules to govern its key element FDI. This has given rise to a number of concerns which will be addressed in Part III. The global financial system 163. The governance structure of the global financial system has also been transformed. As private financial flows have come to dwarf official flows the role and influence of private actors such as banks hedge funds equity funds and rating agencies has increased substantially. As a result these private financial agencies now exert tremendous power over the economic policies of developing countries especially the emerging market economies. Rating agencies determine whether countries can have access to sovereign borrowing and if so the cost of this. The assessments of stock analysts have a profound influence on the flow of funds into stock markets while the decisions of hedge fund managers often impact on national currencies. 164. Within the logic of perfect markets there would be nothing .
