l Court of Justice (ICJ or World Court)

@World, Economy

Overview:
Real global output - gross world product (GWP) - rose roughly 2% in
1993, with results varying widely among regions and countries. Average
growth of 1% in the GDP of industrialized countries (57% of GWP in
1993) and average growth of 6% in the GDP of less developed countries
(37% of GWP) were partly offset by a further 10% drop in the GDP of
the former USSR/Eastern Europe area (now only 6% of GWP). Within the
industrialized world the US posted a 3% growth rate whereas both Japan
and the 12-member European Union (formerly the European Community) had
zero growth. With the notable exception of Japan at 2.5%, unemployment
was typically 6-11% in the industrial world. The US accounted for 22%
of GWP in 1993; Western Europe accounted for 22.5%; and Japan
accounted for 9%. These are the three "economic superpowers" which are
presumably destined to compete for mastery in international markets on
into the 21st century. As for the less developed countries, China,
India, and the Four Dragons--South Korea, Taiwan, Hong Kong, and
Singapore--once again posted good records; however, many other
countries, especially in Africa, continued to suffer from drought,
rapid population growth, inflation, and civil strife. Central Europe,
especially Poland, Hungary, and the Czech Republic, made considerable
progress in moving toward "market-friendly" economies, whereas the 15
ex-Soviet countries typically experienced further declines in output
of 10-15%. Externally, the nation-state, as a bedrock
economic-political institution, is steadily losing control over
international flows of people, goods, funds, and technology.
Internally, the central government in a number of cases is losing
control over resources as separatist regional movements - typically
based on ethnicity - gain momentum, e.g., in the successor states of
the former Soviet Union, in former Yugoslavia, and in India. In
Western Europe, governments face the difficult political problem of
channeling resources away from welfare programs in order to increase
investment and strengthen incentives to seek employment. The addition
of nearly 100 million people each year to an already overcrowded globe
is exacerbating the problems of pollution, desertification,
underemployment, epidemics, and famine. Because of their own internal
problems, the industrialized