|Globalization and the Non-Aligned Movement:
Globalization and the Non-Aligned Movement: An Economic Agenda for Action
Report Team: Dr Nagesh Kumar, Dr Sachin Chaturvedi, Dr Ram Upendra Das, S.K. Mohanty and Saikat Sinha-Roy
RIS prepared a report on the eve of XIII NAM Summit held in Kuala Lumpur on February 24-25, 2003 to serve as a background document for the event. It provides an analysis of the development experience of developing world in an era of globalization and in that light, and presents an inventory of the elements of a possible economic agenda for action for consideration of NAM leaders in the context of globalization, in the coming years. The report consists of, along with an executive summary, six chapters, viz.
It also has an appendix containing statistical profile of NAM in a Comparative Perspective.
- The World Economy: Trends and Prospects;
- World Trading System and NAM Countries: Setting the Agenda for Cancun;
- Capital Flows and Reform of International Financial Architecture;
- Globalization, Growth and Equity: Development Experience of the 1990s and Lessons for Pro-Poor Growth;
- Potential for South-South Trade; and
- An Agenda for Action.
The full report was published in the form of a CD-ROM along with a hard copy of the Executive Summary. It can also be downloaded from RIS website.
The Report was circulated by the NAM Summit Secretariat among the delegations. It was widely covered by the print and electronic media on the eve of the Summit. Subsequently, it has been circulated among all the Indian Missions abroad.
The Report calls for the reform of the international financial architecture for development, including reform of IMF conditionalities, cautious approach to capital account convertibility, international regulation of credit rating agencies, and reform of Brettenwoods institutions. In the area of world trading system the report calls for levelling of the playing field and coordinated position in WTO negotiations, protection of and benefit sharing from traditional knowledge and genetic resources of developing countries, NAM/G-77 watchdog on implementation of WTO commitments by developed countries, etc. The report advocates a bottomline approach for evolving a coordinated response on WTO issues. Addressing the specific issues related to revitalization of South-South cooperation the RIS report suggests a concrete plan of action that goes beyond the usual rhetoric. Among the areas suggested for South-South cooperation in the RIS report are establishing a NAM Network of Think-Tanks on international economic issues, exchange of experience in moderating the adverse effects of globalization, cooperation in medicines and public health, particularly tropical diseases, mobilizing ICTs for empowering the poor for development, exploiting the potential of biotechnologies for pro-poor growth, enterprise development and cooperation in small and medium enterprises, promoting trade and investment among developing countries, and monetary and financial cooperation by establishing a South Bank. RIS feels that NAM should provide a framework for coordination among the sub-regional groupings to foster inter-regional cooperation.
The RIS study emphasizes that the developing countries can face the challenge thrown by globalization much more effectively with collective action than as a divided lot. As a forum of developing countries, NAM has a major responsibility to assist its Member States in facing the challenge better. It can do so by collectively seeking a reform of emerging North-South asymmetries. NAM can also help its Members to exploit the tremendous potential of mutual cooperation for their development. As a movement of developing world, NAM has a much greater relevance today to assist the Member States in confronting the forces of globalization with a collective response and action. NAM has a critical role to provide a time-tested platform for evolving a coordinated response by developing countries to any challenges faced by them in their journey towards development. NAM will then truly be a Movement for Development (MfD).