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To: Bryan who wrote (17942)	5/5/1999 4:53:00 PM
From: allen v.w.	Read Replies (1) \| Respond to of 40688

Here is some read on Indonesia about Globalalization. ----------------------------------------------- REPUBLIC OF INDONESIA ASSUMES CHAIR OF GROUP OF 77 AND CALLS FOR GREATER FOCUS ON COLLECTIVE SELF-RELIANCE TO ADDRESS CHALLENGES OF GLOBALIZATION New York, 13 January 1998.- The Republic of Indonesia today assumed the chairmanship from the United Republic of Tanzania of the largest bloc of Third World countries within the United Nations, the Group of 77. Indonesia's Foreign Minister, Ali Alatas, said that Indonesia would ensure that the 132-nation Group "places globalization as the highest priority on our agenda," and that the forces of globalization are "managed wisely with an eye to equitable sharing of responsibilities and benefits." He added that the Group of 77 should strive to "cover the common interests of all developing countries, while also contributing to an overall improvement of the global economy from which all countries, developed and developing, will benefit." He expressed a strong hope that the Group of 77, through its renewed efforts, "will help bring about a world that is more just and equitably prosperous." Recognizing that globalization has provided some developing countries with opportunities ''to propel their economic growth and development and to help eradicate their poverty," Minister Alatas said that the benefits of globalization "have not been equally distributed." He said that many countries are still "exasperated by chronic difficulties, particularly in such areas as declining levels of overseas direct assistance, aggravation of their debt problems, protectionism against their exports and the lack of adequate access to technology." Commenting on the impact globalization is having on world financial markets, most particularly on his own country, Minister Alatas said that private capital investment is unpredictable because it flows in and out of countries, often with staggering speed, and leaves the country susceptible to severe currency fluctuations. He said that even though a small number of developing countries have attained economic dynamism through successful integration into the global economy, "recent events in Southeast Asia have demonstrated that, given such volatility, economic structures painstakingly built over decades through painful adjustments and sound fiscal and monetary policies could crumble in the span of two weeks." The result, he added, was that "through its contagion effect, this upheaval in one region could spill over to other parts of the world where even the developed countries are bound to feel its shock." Minister Alatas said that addressing the phenomenon of globalization. and promoting advocacy for the developing world? should "also provide a sound basis for constructive dialogue with our negotiating partners in the developing world." He was heartened that the Secretary-General had initiated a reform package designed to transform the leadership and management of the United Nations so that it could address the challenges of the new millennium. He added, "we are convinced that only the United Nations has the universal mandate and the democratic orientation to assume a primary role in the management of globalization and economic liberalization with a view to ensuring justice and equity." Within the broad organizational reform, Minister Alatas recommended that the Group of 77 also undergo reforms to respond to the challenges of globalization.: He suggested that the Group convene "an experts group meeting that would contribute to the articulation of the vision of the South on the future role of the United Nations." In this regard, he said that the Group of 77 must concentrate its work in the next year on shaping a substantive agenda that addresses new realities of globalization, including the crucial need to revamp financial flows for development and the perennial problem of external indebtedness. He said that "many initiatives have been launched to resolve the external debt crisis but these have at best resulted in some measure of temporary rely as they addressed the various sources of indebtedness one after another instead of comprehensively covering bilateral and multilateral debts as a whole." He declared "Let us therefore continue to work for an effective 'once-and-for-all' solution to the debt problem that would not only bring lasting relief to debt-burdened developing countries but also bring them back on the road to development." Minister Alatas said that the challenges facing the developing countries would require a great degree of self-reliance, which 'means a commensurate enlargement and strengthening of South-South cooperation as a way of solving many of our problems of national development as well as a strategy for global economic growth.'' He announced that the Indonesian Government is prepared to convene an experts group meeting on strengthening economic cooperation among the regional economic groupings of developing countries. The Group of 77 was established in 1964 by seventy-seven developing countries at the end of the first session of the United Nations Conference on Trade and Development in Geneva.