The United Nations Conference on Trade and Development (UNCTAD) released a report on the 29th stating that the world economy is expected to grow by 2.7% in both 2024 and 2025. Challenges such as slow growth, weak investment, and trade are widening the development gap between countries, and global development strategies should be reconsidered. In the "2024 Trade and Development Report" released by the United Nations Conference on Trade and Development on the same day, it was pointed out that the expected world economic growth rate for the next two years is lower than the average annual growth rate of 3.0% from 2001 to 2019. Due to multiple crises such as high energy prices and increasing protectionism, developing countries are facing difficult policy trade-offs. The Secretary General of the United Nations Conference on Trade and Development, Rebeca Greenspan, stated that "we must rethink global development strategies, reform the international financial system, revitalize our commitment to multilateralism, and provide genuine support to developing countries." She also noted that developing countries face both opportunities brought by South South trade and green transformation, as well as challenges such as slow global growth, financial instability, debt, and accelerated changes in global trade. The report also pointed out that South South trade increased from $2.3 trillion in 2007 to $5.6 trillion in 2023. By utilizing regional trade and integration agreements, as well as implementing strategic industrial policies, developing countries can better enhance their economic resilience. (New Society)