3. Further recognizes that globalization and interdependence are opening new opportunities through trade, investment and capital flows and advances in technology, including information technology, for the growth of the world economy and the development and improvement of living standards around the world, while at the same time there remain serious challenges, including serious financial crises, insecurity, poverty, exclusion and inequality within and among societies and considerable obstacles to further integration and full participation in the global economy for developing countries as well as some countries with economies in transition;