In the chapter, Haq considers the challenges for global economic management that the nineties may bring. He highlights five distinct trends that have emerged in the international economy in the previous quarter of a century: the globalization of markets, decline in the influence of the US, emerging importance of China and Soviet Union, and narrowing of income gap between rich and poor countries. In the light of these trends, Haq stresses on the need for a new vision for Bretton Woods institutions to serve a greater role in global management in the decade of the nineties.
