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The article discusses the potential values of stocks in emerging markets. Topics include the risks of investments in developing countries, issues with volatility in emerging economies, and debt crises in Argentina and Turkey. The development of the cyclically adjusted price-to-earnings ratio (CAPE) is addressed.

Multinationals are starting to catch on to the logic of reverse innovation, in which products are designed first for consumers in low-income countries and then adapted into disruptive offerings for developed economies. But only a handful of companies have managed to do it successfully until now. In this article an MIT engineering professor and a Tuck professor of management explain why. After conducting a three-year study of reverse innovation projects, they’ve concluded that the main hurdle facing product developers is a mindset. Western designers, who usually create products by following time-tested methods, struggle to overcome the constraints and leverage the freedoms of emerging markets. They tend to fall into common mental traps that prevent the development of reverse innovations: matching segments to existing products, lowering price by removing features, failing to think through all the technical requirements, neglecting stakeholders, and refusing to believe products created for low-income markets could have global appeal. But companies can avoid these traps, the authors found, by adhering to five design principles. The success of several new products illustrates how. One is the Leveraged Freedom Chair, a low-cost wheelchair that can navigate rugged terrain in places with poor infrastructure; a modified version is taking Western markets by storm. INSET: Idea in Brief.. [ABSTRACT FROM AUTHOR]

The article examines the ability of emerging markets to recover from the Covid-19 pandemic and boost growth. Topics discussed include reasons why commodities are less reliable path to economic growth than manufacturing, the need for developing countries to undertake challenging productivity-boosting reforms in a post-pandemic era to drive economic growth, and the gradual return of investors from around the world to emerging markets.

The author, a strategy and international-business professor at Harvard Business School, has come to a conclusion that may surprise you: Trying to apply management practices uniformly across geographies is a fool’s errand. Best practices simply don’t travel well across borders. That’s because conditions not just of economic development but of institutional maturity, educational norms, language, and culture vary enormously from place to place. Students of managerial practice once thought that their technical knowledge of best manufacturing practices (to take one example) was sufficiently developed that processes simply needed to be tweaked to fit local conditions. More often, it turns out, they have to be reworked quite radically--not because the technology is wrong but because everything around it changes how it will work. There’s nothing wrong with the tools we have at our disposal, but their application requires contextual intelligence: the ability to understand the limits of our knowledge and to adapt that knowledge to a context different from the one in which it was acquired. Until we can better develop and apply contextual intelligence, failure rates for cross-border businesses will remain high, what we learn from experiments unfolding around the world will remain limited, and the promise of healthy growth in all parts of the world will remain unfulfilled. INSETS: Idea in Brief;Tuning In to Cultural Differences;What's Universal? What's Context-Specific?. [ABSTRACT FROM AUTHOR]

Despite the rising power of developing economies, few corporations from emerging markets have succeeded in establishing brands in the West. The problem isn't just that they're late to enter the global market; the perception is that they offer poor-quality products, not next-generation ones. Conventional wisdom holds that they'll have to spend huge sums to overcome these obstacles. But some emerging giants, such as the Indian bank ICICI and the maker of the Mexican beer Tecate, are figuring out ways to build global brands on a shoestring. They are learning to outsmart, rather than outspend, their multinational rivals. One powerful strategy they're using: targeting the emigrants who have left their homelands. Regional concentrations of these individuals can provide excellent springboards into developed markets. The key is to target the right segments of emigrants, say the authors. Assimilators, who quickly try to adopt the customs and practices of their new country, are not likely to purchase products made in their homeland. Neither are marginals, who lack economic and educational opportunities and buy mostly functional, affordable products. But two other categories of immigrants hold promise: ethnic affirmers, who cling fervently to their homeland identity, and biculturals, who tend to be affluent and well-educated and move easily back and forth between their home and host countries' cultures. Biculturals are especially attractive; because they're integrated into their local communities, they can influence other consumers and make good conduits to the general population of their host countries. INSET: The Reverse Diaspora Effect. [ABSTRACT FROM AUTHOR]

The article discusses the world's slum population and the economic opportunities available to them. The author argues that while slums are not ideal living spaces, they offer the chance to lift large numbers of people out of poverty. He advocates investment in infrastructure to make slums livable by providing electricity, clean water, and public transit for all city dwellers. Aspects of small businesses in slums are discussed, including owners' skirting of regulations, competition among small vendors, and low profit margins. The author argues that the concentration of people in cities requires effective government, and that high population density in cities allows for the coordination of people to effect large-scale change.

The article discusses German engineering firm Siemens and the increasing share of its sales that come from the infrastructure needs of large global cities. Examples of Siemens technology in use around the world are cited, including low-cost X-ray machines in India, electrical generators in Brazil, and smart-grid technology in China. The article discusses the growth of megacities and their attendant slums, and the need in these places for the infrastructure technology that Siemens manufactures. Past bribery scandals at the company are also described, along with chief executive officer (CEO) Peter Löscher's efforts to eradicate corruption since the beginning of his tenure in 2007. Siemens' water treatment business and its importance in developing countries are also discussed.

The popular take on entrepreneurs in the developing world is that they are few in number and run only microbusinesses. But in a two-year study of entrepreneurship in emerging markets, Habiby and Coyle, of AllWorld Network, uncovered hundreds of high-potential ventures poised for significant growth. Many were in surprising markets like South Africa, Saudi Arabia, and Jordan -- economies dominated by top-down government policy, large business groups, and social elites. The ventures AllWorld encountered were far from microenterprises. They included companies like Bayt.com, the leading job search site in the Middle East, which attracts 4.5 million job seekers; and Airblue, of Pakistan, the world’s first totally paperless airline. They generate large numbers of jobs, create industries, and open new markets. When it comes to educational and employment backgrounds, the entrepreneurs running these companies look just like their Western counterparts. But notable differences do exist: The company builders that AllWorld identified in emerging markets launch 25% more businesses; they have higher success rates; and the vast majority are serial entrepreneurs. These ventures represent new channels for growth for multinationals and investors. For developing nations, they could be the path to progress and prosperity. To realize their potential, however, these firms need global customers, talent, and capital, and that means getting on the global radar screen. [ABSTRACT FROM AUTHOR]

The emerging markets have cooled off lately, but they're still growing, even as the rest of the world shrinks. That's one reason why developing countries -- and the companies based there -- will become more formidable players in the future. A second is that companies on the frontiers saw the downturn coming from developed countries and revised their strategies. They're innovating and improving operations aggressively, while their governments implement policies that will change the game of business. Multinationals need to recognize that and prepare for several tectonic shifts: Developing economies will become less dependent on developed ones, evolve a different model of business leadership, set off countertrends in M&A, and demand unprecedented levels of environmental sustainability. And Africa is poised to become the next hot spot of growth. INSET: Emerging Strategies to Beat the Slowdown. [ABSTRACT FROM AUTHOR]

The article profiles the private equity firm Abraaj Group and its chief executive (CEO), Arif Naqvi. Topics include the firm's expertise at investments in emerging markets businesses, Abraaj's investment in Egyptian firms in relation to Arab Spring political turmoil in Egypt, and Naqvi's opinions on investing in demographically young and urbanizing nations. The importance of political stability and economic reform in Abraaj's investment decisions in the Middle East, Africa, and Latin America.

This article discusses the possibility that wealth creation fueled by technological innovation will reduce poverty around the world. The need to develop products and services that cater to the managerial middle classes in developing countries such as India, China, and Zambia is discussed. The work of companies including the Tata Sons Ltd., General Motors Corp. and Celtel is described.

The article reports on creative capitalism and its impact on the U.S. and global economy. While capitalism has had an impact on extending life expectancy and increasing economic freedoms, many people need assistance from governments and non-profit groups. The author argues that companies need incentives to practice philanthropy. Other topics in the article include Microsoft's outreach programs, malaria in developing countries, and tiered pricing of pharmaceutical products.

The article examines the success of businessman Denis O'Brien who owns Digicel Group, a company that establishes cellular phone towers and provides cellular phone capabilities to developing countries. The author examines how Digicel provides services to countries that are often perceived as violent to U.S. investors, including Papua New Guinea, Haiti and Fiji. The article discusses O'Brien's history in the cellular telephone market, including his conflicts with various government officials. INSETS: Diginomics;Battle of the Billionaires.

The article reports on the state of global malnutrition, a condition suffered by about one in eight people worldwide. The world produces enough food to feed the whole human population, but widespread poverty leaves millions unable to buy or grow adequate food. Aid policies should therefore focus on agricultural development, health and education services, and good governance in the developing world. INSET: THE PERILS OF CHILDHOOD MALNUTRITION.

The article discusses the changing role of corporations in society. Recent corporate scandals such as fraud at Enron and insider trading at WorldCom have lead to a crisis of confidence in the role of the modern corporation in society. In an effort to bolster socioeconomic development in underserved segments of emerging markets, nongovernmental organizations (NGO) have partnered with companies in order to share competencies, infrastructure and knowledge needed to operate in low-income markets. Several examples of these partnerships are discussed.

During the past 15 years, companies have flocked to a handful of cities in India and Eastern Europe for offshore service functions. As a result, the most popular sites are now overheating: Demand for young professionals is outstripping supply, wages and turnover are soaring, and overburdened infrastructure systems are struggling to serve the explosive growth. The happy news is that the tight labor markets in the well-known hot spots are the exceptions, not the rule. Many attractive alternatives are emerging around the world. According to a McKinsey Global Institute study, more than 90% of the vast and rapidly growing pool of university-educated people suitable for work in multinationals are located outside the current hot spot cities. For instance, Morocco is now home to offshore centers for French and Spanish companies requiring fluent speakers of their home languages. Neighboring Tunisia has used its modern infrastructure, business-friendly regulations, and stable, low-cost workforce to attract companies such as Siemens and Wanadoo. Vietnam offers university graduates who have strong mathematics skills, speak French, English, German, or Russian, and do not demand high wages. The problems facing the hot spots, coupled with the emergence of many more countries able and willing to provide off-shore services, mean that picking a site has become more complicated. In choosing a location, companies will have to focus less on low wages and much more on other ways that candidate cities can fulfill their business needs. They will have to be much more rigorous in articulating precisely what they require from an offshore location. That means evaluating their unique needs on a range of dimensions and understanding how alternative locations can meet those needs for the foreseeable future. INSET: COMPARING LOCATIONS OBJECTIVELY. [ABSTRACT FROM AUTHOR]

Focuses on the work of international organizations to improve economic conditions for farmers in developing countries. Description of irrigation systems which can increase the productivity of farms run by poor workers; Importance of access to water and crop irrigation to a farm's productivity; Potential for improved farming practices to alleviate poverty in developing countries; Discussion of international strategies to improve agricultural production; Profiles of several farmers in developing countries who have raised their standards of living with improved farming practices; Description of irrigation, damming, and other crop watering techniques; Economic aspects of improved crop irrigation and farming methods. INSET: CROSSROADS FOR AGRICULTURE AND WATER.

If your company operates in a developing country, AIDS is your business. While Africa has received the most attention, AIDS is also spreading swiftly in other parts of the world. Russia and Ukraine had the fastest-growing epidemics last year, and many experts believe China and India will suffer the next tidal wave of infection. Why should executives be concerned about AIDS? Because it is destroying the twin rationales of globalization strategy--cheap labor and fast-growing markets--in countries where people are heavily affected by the epidemic. Fortunately, investments in programs that prevent infection and provide treatment for employees who have HIV/AIDS are profitable for many businesses--that is, they lead to savings that outweigh the programs' costs. Due to the long latency period between HIV infection and the onset of AIDS symptoms, a company is not likely to see any of the costs of HIV/AIDS until five to ten years after an employee is infected. But executives can calculate the present value of epidemic-related costs by using the discount rate to weigh each cost according to its expected timing. That allows companies to think about expenses on HIV/AIDS prevention and treatment programs as investments rather than merely as costs. The authors found that the annual cost of AIDS to six corporations in South Africa and Botswana ranged from 0.4% to 5.9% of the wage bill. All six companies would have earned positive returns on their investments if they had provided employees with free treatment for HIV/AIDS in the form of highly active antiretroviral therapy (HAART), according to the mathematical model the authors used. The annual reduction in the AIDS "tax" would have been as much as 40.4%. The authors' conclusion? Fighting AIDS not only helps those infected; it also makes good business sense. [ABSTRACT FROM AUTHOR]

Focuses on the efforts of anti-globalization protesters. Financial and global organizations they oppose; Views on the East Asian crisis; Impact of free trade on developing nations; Controversy over the protesters' support of the Tobin tax; Anti-sweatshop campaigns; Role of Nongovernmental Organizations (NGO) in the debate; Impact of protests on international free trade.

Contends that two agreements of the World Trade Organization are undermining agricultural livelihoods and biological and cultural heritage in developing countries. Discussion on how developing countries will be affected by the agreements; How the United States and developed countries benefit from the agreements; Importance of protecting the livelihoods of farmers in developing countries.

Deals with the contradicting views of Vandana Shiva, director of the Research Foundation for Science in India, and Bill Emmott, editor of the `Economist' in London, England, on Third World development. Effects of the development and human greed according to Shiva; Explanation on the pseudo-growth in Third World agriculture; Views of Emmott on profit and capitalism.

The article discusses economic prospects for developing countries. It mentions that For the developing world as a whole, real income per person has fallen back with decline in gross domestic product. It also mentions that along global supply chains it became possible for poorer economies to begin producing for export by grabbing hold of small pieces of production networks.

The article presents a profile of Nathan Eagle, founder and chief executive of the mobile data services company Jana, and his leadership of the company. Topics addressed include an overview of Jana's services providing mobile smart phone data plans and Internet access in developing countries, an overview of the business conditions for mobile computing in emerging markets, and the controversial nature of Jana's business model.

Presents a forecast for the United States economy. Assertion financial crises in emerging markets will have little impact on the economy; Worldwide response to Brazil's devaluation of its currency in January, 1999; View that emerged countries like the US, Japan, and Germany are immune to financial crises which wiped out emerging markets in the 1990's; Growth in gross domestic product; Unemployment; How slowing demand and financial troubles around the world benefitted US consumers.

Focuses on the financial situations of United States banks. Impact of the global financial crisis; Fear of bankers that the situation will get worse; Claim that not all banks are equally distressed; Foibles of bankers; How bankers are drawn to risky emerging markets; High yields on loans to Russia; Devaluation of the real in Brazil; Banks that are poised to recover. [ABSTRACT FROM AUTHOR]

The article discusses the economic impact of automation, artificial intelligence (AI), and globalization. Topics include a decline in the importance of cheap labor provided by poorer countries as automation and AI expands, a decline in the reliance of developing countries on intermediate imports as demand increases and more of what is manufactured is sold in the same country, and an increase in global trade of services.

A commentary on the Economics for Inclusive Prosperity (EfIP) initiative launched by a group of economists including Suresh Naidu, Dani Rodrik and Gabriel Zucman which argues for economics to move away from neoliberalism and adopt an economics characterized by inclusive prosperity, is presented. Topics covered include failure to address the concerns of developing countries, especially the poorer among them and the status of neoliberalism in developing countries.

The author discusses the impact of the decline in infectious diseases, particularly in developing countries. He mentions the development of new drugs and medical techniques which lead to less diseases and death, the issue of population increases and economic conditions, and presents forecasts on medicine and its role in future development.

Presents a speech by President of the Republic of Korea H.E. Roh Tae Woo, `The Importance of Third World Countries,' delivered to the Forty-Seventh Session of the United Nations General Assembly in New York, New York on September 22, 1992, dealing with prosperity by the 21st Century.

Presents a speech by James D. Robinson III, Chairman and Chief Executive Officer of the American Express Company, delivered at the Overseas Development Council in Washington D.C. on February 29, 1988. Imbalances in the world economy; Reductions in the budget and trade deficits; Proposals for the Institute of International Debt and Development, which aims to provide the International Monetary Fund and the World Bank with options for economic growth and reform.

Presents a speech by a research fellow at Stanford's Hoover Institution, delivered before the Financial Planning Forum of Palo Alto on January 24, 1995, focusing on emerging market countries. Common characteristics of poor countries; Potential annual growth rate of emerging market countries; Economic growth in Latin America and other emerging markets; Call for investors to invest in emerging markets.

Discusses investments in emerging markets in light of the financial crisis in Asia as of late April 1998. The case of Robert Howe's New Asia fund; United Engineers of Malaysia being one of the greatest of all money losers for United States and European investors; Graph of United States investment in emerging markets from 1985 to 1997; Holdings of United Engineers foreign institutional investors before November 1997.

Reports that 1995 is the beginning of a global expansion of vast proportions where developing countries, not the usual elite club of rich nations, are leading the charge. How the largest developing economies will average an estimated 6% annual growth in GDP through 1996, more than double the rate of mature economies of North America, Japan, and Europe; The increase in debt as a percentage of GDP in mature economies. INSET: Canada's endangered bacon.

The article informs about the threatened debt crisis in the developing countries of the world which is a indication of transformation in the relationship between powerful industrial democracies and developing countries. It states that the deepening recession in the Third World countries would slow any recovery in the industrial countries. Pablo Pedro Kuczynski, economist and politician of U.S. states that Western lenders would have to supply enough additional credit to drive out the crisis.

The article focuses on the need for an internationally coordinated approach for the management of world debt crisis. It discusses the impact of recession and debt on the economies of developing nations, and how the borrowers' inability to pay can result in severe contraction. It mentions the U.S. government's approach to the world's debt problems, and some Democrats' demand for the approval of government's request for an increase in the contribution to the International Monetary Fund (IMF).

Focuses on economic conditions in developing countries as of December 14, 1974. Comparison of total food production in developed and developing countries; Information on per capita income in Tanzania; Assessment of prospects of rising export earnings in developing countries; Issues related to import restrictions to developing countries.

The article discusses the potential effects of Third World economic growth on First World business. The author argues that fears about the negative impact of Third World competition are questionable in theory and flatly rejected by the data through an examination of the patterns of wages and productivity in a series of model economies. An increase in Third World labor productivity means an increase in world output, leading to higher wages for Third World workers, not decreased living standards for the First World. If the West ignores this data and responds to fears about Third World economic success by erecting import barriers, the effects could be disastrous.

Conventional thinking about Third-World development rejects the idea of state-of-the-art technology for villages that lack adequate water, power, food, and literacy. But Sam Pitroda argues that modern telecommunications and electronic information systems are completely appropriate technologies even for the poorest regions of the world. Why? First, telecom is indispensable in mobilising the resources necessary to meet basic human needs. Second, information technology is the greatest democratizer the world has ever seen. The author was born to a lower caste Indian family in a village without electricity or telephones. At 22, he earned a master's degree in electrical engineering at the Illinois Institute of Technology. At 38, he was a U.S. citizen, a self-made millionaire in the field of digital switching, and a man with a mission. In 1980, Indian telecom was in a sorry state, with 2.5 million telephones and 12,000 public phones for a population of 700 million people. Only 3% of India's 600,000 villages had telephone service of any kind. Worse yet, switching and transmission technologies were antiquated. Convinced that India needed digital technology, universal telephone accessibility, and native Indian engineering, the author became an unpaid adviser to the prime minister and launched a program to modernize Indian telecom. By 1987, India had developed its own digital electronics industry and was manufacturing the world's first small rural digital exchange for village use. Today rural exchanges are being installed at the rate of 25 each day. By 1995, more than 100,000 villages will have telephone service. By the turn of the century, virtually every Indian will have access to telecommunications. [ABSTRACT FROM PUBLISHER]

The World Leadership Survey, which began a worldwide dialogue on a set of important issues facing managers in the 1990s, continues with commentaries from four recognized experts, each of whom addresses the survey results from a different perspective. James E. Austin, the Richard P. Chapman Professor of Business at the Harvard Business School, writes about "The Developing-Country Difference." In developing countries, Austin observes, managers display attitudes and follow practices that diverge from those in developed nations. In particular, the role of government, investments in education and technology, and environmental concerns set these nations apart. [ABSTRACT FROM PUBLISHER]

It's wise to separate the rhetoric from the reality in international economics. Take the wave of divestment that swept the Third World in the 1970s. Many investors said they withdrew their money because of the Third World's wildly unpredictable policies regarding ownership and dividends. Countries including Chile, Zaire, Brazil, and Taiwan defended those policies by saying that they had been exploited by multinational companies. But accusations about irrationality and exploitation didn't drive foreign investment out of the Third World. They merely justified changes that were inevitable. What really caused the divestment was the promise of high commodities prices and low interest rates. The economic factors that characterized the 1970s have changed, and a new wave of foreign direct investment is imminent. Now that real interest rates are higher, bank loans are harder to come by, and projections of commodities prices are dismally low, the Third World is willing to adjust its policies to share potential risk as well as profit. Investors, as always, want to leverage their wealth. And some, recognizing the opportunities in the Third World, are already beginning to develop contractual arrangements to fit the new economic times. [ABSTRACT FROM AUTHOR]

Alarming Third World debt figures have galvanized the imagination and loosened the tongues of the media prophets of doom. After World War II, the same sort of observers heralded the construction of the international monetary system. Now they look ahead to its destruction. Their prophecy may just come true. During the first part of 1983, the Bank for International Settlements in Basel, Switzerland reported that private banks had virtually halted all new lending to LDCs. Pushed by worry about decline in their own prestige--and in stock prices--international banks may help pull down the monetary system and the beginnings of industrial development in the LDCs, a development on which they, and the rest of the industrialized world, are dependent for survival. A. W. Clausen shows why and how the question of economic interdependency must be faced. Mussolini and Lenin both proved that a country cannot make autarkic economies prosper. Those in the United States who call for "go it alone" policies are equally wrong. The author first demonstrates the strength of the monetary system and of the developing world. Then he explains the source of the LDCs' weakness and offers suggestions for what the private and the public sectors can do to ensure that the monetary system and world trade will continue to grow. [ABSTRACT FROM AUTHOR]

A few years ago, most countries of the developing world saw modern technology as the answer to almost all their problems. Today, in many such nations the pendulum is swinging the other way. Governments of developing countries are beginning to see advanced technology as a cause of one of their most perplexing problems, massive unemployment. The author maintains that the foreign investor, with his automated plant, is clearly a candidate for part of the blame. By simply making a few minor adjustments to his highly automated equipment, the investor could create an intermediate technology that is not only better suited to the real needs of the developing country, but is also more profitable for his own company. [ABSTRACT FROM AUTHOR]

Looks at the creation of wealth in several countries and states that the countries of the developing world are producing individual fortunes in amazing numbers. Creation of wealth in Latin America and Asian countries; The promising scene in India; Polish entrepreneur Jan Wejchert.

The article discusses trachoma, a blinding eye disease common among underdeveloped areas. Accordingly, the author has emphasized the need to improve hygiene, housing and nutrition in order to battle the endemic. His discussion covers facts which explain the prevalence of the illness among young children, its early symptoms and how it is transmitted to other persons. The project initiated by the World Health Organization, emphasizing on the systematic treatment of all infected school children with appropriate drugs is likewise discussed.

Focuses on the state of unemployment in various developing and underdeveloped countries of Asia, Africa, Middle East and Latin America as of December 1972. Effect of unemployment on the operations of planning agencies and public administration of the developing countries; Tensions that can occur in developing societies because of unemployment; Suggestions to bring down the levels of unemployment in developing and underdeveloped nations.

The article discusses the difficulties faced by foreign businesses in Mexico up to 1942. Many of the difficulties that face foreign businesses in Mexico are often the reaction to its own activities, and according to the author, much of the legislation was inevitable. The author stresses that if foreign business is going to have a prosperous future in Mexico, it must renounce its attitude of superiority and conduct itself in a manner consistent with the Mexican laws and legislation. Mexican President Camacho's current plan of industrialization is dependent on foreign businesses which may prove valuable to U.S. businesses.

The article examines the annual reports obtained of all the joint stock companies of Rio Grande do Sul, a province of Brazil. The article shows that the country's industrialization capacity has been somewhat underestimated, and that Brazil is transitioning from an agricultural state to an industrial state with its attendant economic and social development. The importance of foreign capital to the economic development of Brazil is stressed, and foreign investments from North America, Europe and Argentina are discussed. Statistics related to Brazil's capital growth are presented.

Despite the fact that the role of the multinational corporation in the economic development of the Third World has been so widely regarded as valuable, the investment climates of the less developed countries (LDCs) have deteriorated steadily in the past decade. Initial appearance of harmony has turned into overt confrontation. The time for rhetoric and polemics is up. We must recognize that direct investment along traditional lines is no longer responsive to the realities of shifting power relationships. In this article, the author analyzes the reasons behind the "convulsions shaking most of the LDCs today," and suggests how foreign investors and host countries can reach a "denouement based on mutual accommodation." [ABSTRACT FROM PUBLISHER]

The idea that the food industry could help overcome malnutrition in less developed countries--and profit from a virtually untapped market as well--has led to active involvement in this field. The author maintains, however, that experience to date has proved the initial enthusiasm of business leaders, government officials, and scientists to be overly optimistic, if not illusory, on both counts. And he argues that to continue as in the past is to court more of the same. On the positive side, however, there is considerable evidence of renewed interest in nutrition on the part of local governments and international development organizations. This favorable climate, says the author, coupled with the opportunity for more realistic government-business projects, can mean a more successful--and profitable--corporate contribution in the future. INSET: Mounting concern about world nutrition. [ABSTRACT FROM PUBLISHER]