-Caveat Lector- <A HREF="http://www.ctrl.org/"> </A> -Cui Bono?- ----- Original Message ----- From: Dimitris Desyllas <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> Sent: Sunday, February 13, 2000 3:24 PM Subject: FW: [ykboo] pie-power vs. globalization > Eternera Mailing List - http://get.to/eternera > > > > -----Original Message----- > From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED]] On Behalf Of > MichaelP > Sent: Sunday, February 13, 2000 11:45 AM > To: unlikely suspects: ; > Subject: [ykboo] pie-power vs. globalization > > > > IMF Chief Pied, Burnt In Effigy By Bangkok Protesters > > Pie Picture at: > > http://news.excite.com/photo/img/r/economy/unctad/ngos/20000213/ban04? > r=/photo/ap/000213/12/world-trade-camdessus > > IMF Chief Camdessus Retiring MondayUpdated 12:35 PM ET February 13, 2000 > > > By NAOMI KOPPEL, Associated Press Writer > BANGKOK, Thailand (AP) - > > During his 13 years as head of the International Monetary Fund, Michel > Camdessus transformed himself from a faceless bureaucrat into a well-known > - and much-criticized - figure. > > Camdessus, 66, retires as the IMF's managing director Monday, more than a > year before his term expires. He is the IMF's longest-serving IMF chief. > > He often drew criticism from some governments and activist groups > that partly blamed his financial policies for poverty in the Third > World. > > His career ended in a more physical act of criticism. Before Camdessus > gave his final speech at a U.N. trade conference in Bangkok on Sunday, an > American activist threw a cream-and-fruit pie in his face. > > But the pie-throwing incident gave Camdessus a last chance to show the > iron side of his character, going ahead with his speech - a defense of the > IMF as a force for global good - without mentioning the assault on his > dignity minutes earlier. Camdessus instead hit back at countries that had > criticized him over the years, hinting at hypocrisy. > > "Some governments from time to time find it convenient not to express > their public support for actions they support wholeheartedly in our > executive bodies," he said. "We will all be unable to discharge our > ever-growing responsibilities if we are not perceived for what we are - > the faithful instruments of the community of nations." > > Many in Thailand held Camdessus personally responsible for exacerbating > the recent Asian economic crisis by insisting on high-interest rates that > have been blamed for ruining businesses and leaving millions out of work. > The IMF and Camdessus in particular became convenient scapegoats for some > governments. Camdessus, a former governor of the Bank of France, was > picked in 1998 by Asiaweek magazine as Asia's most powerful man. > > Under Camdessus, the IMF coped with financial crises in Asia, Africa, > Russia and Latin America. > > But the IMF was never popular internationally, and calls have increased > for the organization to operate with the transparency it often demands of > poor countries. In recent months, the IMF has been tested by allegations > that billions of dollars of aid money destined for Russia had been > misappropriated. The United States is proposing significant changes. It > wants the IMF to focus on short-term emergency loans and to withdraw from > making long-term loans to poor countries that can obtain money from > private sources. When Camdessus' retirement was announced last year, > British Chancellor Gordon Brown praised him as a visionary. But on > Bangkok's streets, protesters who see the IMF as part of a world system > favoring rich countries cheered at the pie throwing and burned Camdessus > in effigy. Camdessus, typically unflappable, refused to press charges > against the pie thrower. > > Poor Nations Seek Share of Wealth > > By DIRK BEVERIDGE, AP Business Writer BANGKOK, Thailand (AP) - Economic > globalization may be inevitable, but the leaders of poor nations told an > international trade conference Saturday that it holds painful and > frightening consequences for their countries. > > The weeklong U.N. Conference on Trade and Development, which started > Saturday, was being touted as a place for trade officials to redeem > December's debacle in Seattle, where street protests turned violent and > World Trade Organization ministers failed to launch a new round of global > commerce talks. > > But security issues plagued the Bangkok meeting as well, with an American > anti-free trade activist dodging a cordon around the conference to throw a > pie in the face of International Monetary Fund chief Michel Camdessus. > > Following the embarrassing incident, Camdessus went ahead with a speech, > his last before stepping down as IMF chief. He used the occasion to > counter claims that his organization has ignored the concerns of ordinary > people. > > "Globalization can now be seen in a positive light ... as the best means > of improving the human condition throughout the world," he said. Camdessus > said foreign investment in the Third World has enormous potential to close > the income gap, while information technology has given poor nations access > to knowledge that was once the preserve of the rich. > > The U.N. meeting, held every four years, focuses more on the developing > world and a feeling among many of its leaders that they cannot access > wealth created by a global system centered on high technology and > increased power by multinational corporations. Such corporations - some > already financially more powerful than medium-sized countries - will keep > getting bigger through mergers and acquisitions, warned Malaysian Prime > Minister Mahathir Mohamad. > > "While we welcome their collaboration with our local companies, we fear if > they are allowed into our countries unconditionally, they may swallow up > all our businesses," said Mahathir, long a vocal critic of the West. "I am > worried and frightened at the preparations being made by corporations in > certain industries and business activities in order to take advantage of > liberalization and globalization." Japanese Prime Minister Keizo Obuchi > said Saturday that his country, the richest in Asia, would agree to open > its market to most goods from the poorest countries - but only if the > United States and Europe go along. > > The Europeans have given the idea a warmer response than the Americans, > Japanese officials said privately. > > U.N. Secretary-General Kofi Annan called for a "Global New Deal," with > rich nations extending a helping hand to their poor neighbors. > > "The downsides of globalization are indeed painful," said Philippine > President Joseph Estrada, whose nation lags many of its neighbors > economically. "But taking the bigger pills against its ills is superior to > living inside a sterile bubble." > > After the pie-throwing incident, Prime Minister Chuan Leekpai ordered > stepped-up security at the convention center and hotels where delegates > from some 190 nations are gathered. > > Shortly after the order was issued, 500 protesters outfoxed hundreds of > officers and set themselves up directly in front of the main gates. Police > in riot shields surrounded the demonstrators, who sat down and refused to > be moved. No violence was reported. After an hour, the demonstrators on > their own cleared the area. > > While the U.N. meeting is essentially a forum for developing nations and > not a place where policy is set - like the WTO - organizers have promoted > this session as a chance to rebuild confidence in global trade after the > debacle in Seattle. WTO Director-General Mike Moore is huddling here with > trade officials from various nations for that purpose. > > UNCTAD is meeting in the capital where Asia's economic crisis began July > 2, 1997, with the devaluation of Thailand's currency. That devaluation > revealed major cracks in the developing world's efforts to boost its > economies quickly. > > Thailand announced this week it would be leaving the IMF's rescue program, > a symbol that Asia is bouncing back, with regional growth expected to > average 4 percent this year. > > ================================= > > > *** NOTICE: In accordance with Title 17 U.S.C. Section 107, this material > is distributed without profit to those who have expressed a prior interest > in receiving the included information for research and educational > purposes. *** > > > ______________________________________________________________________ > To unsubscribe, write to [EMAIL PROTECTED] > ______________________________________________________________________ > Start Your Own FREE Email List at http://www.listbot.com <A HREF="http://www.ctrl.org/">www.ctrl.org</A> DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are not allowed. Substance—not soap-boxing! These are sordid matters and 'conspiracy theory'—with its many half-truths, misdirections and outright frauds—is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. 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