It still remains a focus for the media and financial analysts to cover and illustrate the latest economic performances of the world's crisis-ridden developed nations.

At the same time, however, the economic data of the world's developing countries deserves equal attention. That's because neglecting the vulnerable countries would harm human development in the long run.

In a report issued Monday, the World Bank predicted that international capital flows to developing countries will drop to US$363 billion this year. That's down from US$707 billion in 2008 and a high of US$1.2 trillion in 2007.

The report also suggested that most of the developing world will face an economic decline this year.

The world's developing countries have been hit hard by the crisis due to their irrational debt structure, export-driven economies and the weak capacity of their financial systems to resist risks.

With a global liquidity shortage, the developing countries also witnessed a plunge in both capital inflow and exports, on which their economies are heavily dependent.

UN Secretary-General Ban Ki-Moon and World Bank President Robert Zoellick repeatedly warned that the international community should address the tough scenario facing the developing world. That, they said, is because the financial upheaval could evolve into a social crisis in those countries.

The financial crisis originated in the developed economies but the developing nations are feeling the pain. The financial crisis brought mostly credit and economic troubles to the wealthy nations but it may drag the developing countries into hunger, poverty and other severe social problems.

No matter for moral reasons or their own interests, the industrialized nations are in position to assist the developing countries. Coordinated efforts on the part of the developed nations can help the poorer ones avoid significant social and humanitarian problems.

The crisis should not be limited to certain countries in such an economically integrated world, where all economies are intertwined and inter-dependent on one another.

Only by ensuring long-term, steady and sustainable growth in the developing world, can the industrialized nations enjoy the opportunity of expanding trade and investment in the emerging economies.

The crisis is making it harder to fulfill the UN Millennium Development Goals, a set of anti-poverty targets that world leaders pledged to achieve by 2015, because capital flows from rich countries to the developing world are decreasing.

Under the circumstances, the wealthy nations are obliged to make good on their promises and provide the developing countries with enough capital so that the entire world can jointly tackle the myriad of challenges now facing the planet.

Therefore, it is in the interest of all wealthy nations to help the developing world overcome the economic downturn and to promote global solidarity in addressing the crisis.

(Xinhua News Agency June 25, 2009)