They turned a blind eye to the dangers of rising debt-to-GDP ratios. If a lost decade is to be avoided, these failures must be corrected—now, not later.” (The reference to “These failures” includes reduced support for free trade as well as large fiscal deficits.) Available at: https://openknowledge.worldbank.org/server/api/core/bitstreams/6e892b75-2594-4901-a03646d0dec1e753/content 35  13  capacity of the institutions available to invest funds.
The capital flow sceptics and the climate justice activists should exchange notes. Ladies and gentlemen, to conclude, I remain impressed by the power of global capital flows to support investment, reduce financing costs and accelerate convergence in developing economies – especially where domestic savings are below investment needs. Nonetheless, this is a force that is dangerous as well as useful and powerful.