One day of dynamic discussions built around
    the following three modules: 

• Trends and Challenges in Globalization opened with a plenary session that focused on the sustainability of the recent expansion in capital flows and economic activity, the degree to which such expansion reflects paradigm changes versus cyclical factors, and the potential sources of risks for future financial crises.

• New Aid Architecture discussed the changing landscape marked by the emergence of new donors, prospects for scaling up, and aid for trade initiatives.

• Climate Change examined the implications of climate change for developing countries, international public goods, and intergenerational externalities.