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Questo articolo è stato pubblicato il 06 settembre 2013 alle ore 17:09.

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Southern countries such as Brazil, China, and India, to name only a few, are enhancing their contributions to overseas development. Domestic resources and diaspora remittances are increasingly funding development. As countries become less reliant on traditional sources of financing, they are less likely to follow foreign diktats blindly.

Indeed, people in developing countries are increasingly demanding a stronger voice in determining what is good for them. The North’s old we know what is good for you approach, however well-informed or well-intentioned, will no longer work. A more inclusive approach that reflects local conditions and preferences is essential. The P-4 approach reflects the new global realities and seeks to leverage the best qualities of the private, philanthropic, and public sectors.

Viswanathan Shankar is Group Executive Director and CEO for Europe, the Middle East, Africa, and the Americas at Standard Chartered Bank.

Copyright: Project Syndicate, 2013.

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TAG: Europe, Americas at Standard Chartered Bank, Total shareholder return

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