ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Four Years of EMS

accountable to elected authorities. It is this what 'privatisation' really means, and what is in store for substantial sections of central and local administration (especially for the Tatter). It is happening or will happen before long, to most of the remaining nationalised industries, to local councils, to public utilities and services (includins those which are monopolies), to airports and shipyards, to North Sea oil, to steel and coal; to all the wealth of the nation. And it is in this way that a government elected by a minority will serve the interests of another, a privileged minority

Non-Resident Control and National Interest

Non-Resident Control and National Interest I S G I AM afraid the discussion on investment by non-resident Indians in Indian companies is altogether misplaced. The major issue, in my view, should not be whether non-resident control will replace resident control of Indian companies but whether attempts at such substitution, should they materialise, will be in the interest of the country.

NAM Tails behind Brandt

NAM Tails behind Brandt I S G TOWARDS the close of 1979 when the world in general and industrial countries in particular already faced prospects of prolonged, severe recession, the Independent Commission on International Development Issues under the chairmanship of Willy Brandt (commonly known as the Brandt Commission), had come out with what was called 'A Programme for Survival'. Many people, said .Willy Brandt, "may consider this to be the worst possible moment for advocating radical changes" but he believed that it was "precisely in this time of crisis that basic world issues must be faced and bold initiatives taken" to reshape worldwide relations. The existing system of international institutions which was established at the end of World War II, the Commission felt, faced numerous disadvantages which called for fundamental correction. Hence the demand for a new international economic order, "What is new on the agenda is a re-arrangement of international relations, the building of a new order and a new kind of comprehensive approach to the problems of development." In the establishment of the new order, the Brandt Commission called for co-operation between the industrialised, affluent North and the developing, poor South, pointing out, at practically every step in its exposition, to the mutuality of gains and benefits to all countries, rich and poor, from a strengthened, more just global economy.

Did GATT Hold Any Promise at All

Did GATT Hold Any Promise at All? I S G GATT (General Agreement on Tariffs and Trade) should serve as a standing reminder to all and sundry that one country one vote does not, by itself, work wonders. The pundits who now rebuke the developing countries for not displaying enough interest in GATTs activities ought first to brush up their history. It was not for want of active interest on their part that the developing countries found themselves almost completely ignored in the operation of GATT. In fact, UNCTAD was the outcome of the frustrations of the developing countries with the functioning of GATT, in spite of the fact that these countries have acccounted for more than two-thirds of the GATT membership. Indeed, UNCTAD is a living monument principally to those frustrations.

Mexican Crisis and Response

THE developing country with the largest outstanding external debt is now Mexico. Last month it was in danger of defaulting on its payments. Something like $ 16 billion were duo to be repaid by Mexico on an outstanding debt of dose to $ 90 billion. With oil prices having been on 'the decline for almost a year and Mexico's policy of selling only as much oil as it needs to sell and conserving the rest for the future, it is a matter of surprise that the crisis took so long to surface.

Adjustment Programmes for the Poor

October 10, 1981 fessed to the police" has of course been forgot ten. The general crime level in the city and sense of insecurity in the mind of the commuting public has un- IN its fourth World Development Report, the World Bank forecasts little cheer for the world's poorest countries during the 1980s. Going by the yardstick of GDP per person, India belongs to the poorest 36 (i e, countries with GDP per person $ 370 or less). It matters little whether among these 36 it would have ranked a little better if a year other than the abnormal year of 1979-80 had been taken as the base. Even with its agricultural production restored to the pre-1979-80 peak and manufacturing showing a somewhat better performance in 1980, India would still have remained among the poorest 25 (i e, countries with GDP per person of $ 260 or less), though we would then have been closer to China and Pakistan, if that is any consolation.

Bombay as Offshore Banking Centre

I S G WE too should establish an international financial centre of our own. We are debtor nation, no doubt, dependent upon substantial external aid to carry out our development programmes. But even so, should we carry on as now and take no account of the new emerging factors which may well have a potential which we should exploit to the full? Should we not endeavour to clear the road for the overflow of funds from abroad, particularly the oil exporting countries of the Gulf who are accumulating enormous funds and who seek investment outlets all over the world?

The Gold Puzzle

the state government made adequate police bandobust and the workers too decided not to take it lying down. In what followed, the police firthicharged the agitating employees, injuring some (reportedly more than 50) seriously. Finally, the interview was again postponed. The manager of the Calcutta unit was transferred during the turmoil, and the process of recruitment suffered yet another setback.

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