China a model for developing world

China may be a model for poor nations to follow, the United Nations said as it encouraged developing countries to be more interventionist and strengthen their economies. In its annual report, the UN Conference on Trade and Development said standard reforms and deregulations promoted by the World Bank and the International Monetary Fund have not done much to cut poverty, the Hong Kong Standard reported. The report advocated more leeway for national government intervention on foreign exchange markets, interest rates, trade, capital flows, income supports and efforts to achieve price stability. It also said China is playing a vital role in growth in the developing world and that this process "must not be derailed".