Launch of Economic and Social Survey Asia Pacific in Brazil


Uploaded by ipcundp on 24.05.2011

Transcript:
JORGE CHEDIEK, UN Resident Coordinator in Brazil The United Nations Economic and Social Commission for Asia and the Pacific
produces its regional report every year
but this is the first time since 1957
that the report is being launched in Latin America
Many of the responses to the developing problems
we have in the Global South are in developing countries.
It is very important for us to better
understand Asia's reality;
as well as for them to better understand our reality so,
by using our expertise together,
we can build a fairer and better world,
with less poverty. That is very important
for the world and
particularly for the developing countries.
JORGE ABRAHÃO, Director of Social Politics and Studies, Institute of Applied Research (Ipea)
It is important for us to be aware of
other countries growth indicators,
to find out how that is happening,
and what are the opportunities to Brazil deriving from it.
What we have found, so far,
is that Asia's growth has
being virtuous and important
not only to Asia, but also to other countries
such as Brazil - due to the role commodities
play in our economy.
Although interesting, this is something
that makes us worried since we do not want
to end up only exporting
raw materials and primary goods.
Brazil is now in a very important moment
of making sovereign decisions in regard to
its social protection policies
and this is also linked with the current
global economic turnarounds.
CARLOS MUSSI ECLAC Economic Affairs Officer
ECLAC is also working on this task to try to show
the importance of a regional view,
of how aside from local and national,
there are structural problems as well.
How that is seen, especially in a more
globalised world, where the weight
of countries or regions, change really fast.
The Asian vision of connection
is much broader than ours.
- a lesson we must learn from them -
we want to have integration,
but we still don't have connections.
This is apparent in Renato Bauman's studies,
our ex-director who now works here in IPEA,
has done about commerce
chain relations within regions.
In Asia, a chain in production line
is much more observed, while in here,
we want to integrate final products.
RATHIN ROY UNDP International Policy Centre for Inclusive Growth - Director
MARCOS CINTRA Deputy-Director of Studies, Economic Relations and International Studies
Since the 90's, given the process
of Asian integration, the growth rates
of developing countries are bigger
than developed countries.
The contradiction of this "back to normal"
is the huge international liquidity.
This huge international liquidity
that comes from these aggressive
monetary policies with
very low interest rates,
stimulates carry trade operations
and stimulates capital flows
to developing countries
and the increase in commodities prices.
Given the low interest rates
- and low return of financial assets
in developed economies -
investors look for new
investment possibilities
- commodities being one,
triggering an increase in spot prices.
I'd like to point out that
in this report - and I congratulate
the UN for bringing up this debate -
the importance of having a global tax
on financial transactions,
a tax on global capital flows
that could finance the MDGs is explicit.
The idea is to set a very low tax,
of 0.005% in capital flows
- that are very large -
and create from those huge flows
a revenue of about 35 billion dollars
that could finance actions in very poor countries
like Rathin Roy brought to our attention.
The report supports
the Industrial Development Banks.
To Brazilians, the role of BNDES
(National Development Bank)
during the crisis
financing the development
of Brazilian companies, is clear.
In South America, though,
development banks have
almost disappeared.
Carlos Mussi has already suggested
a Commodities Stabilizer Fund
in terms of Direct Foreign Investment.
In that sense, funds to support
technological advancement,
a green economy,
technology transfer in solar energy,
a commodities fund and development banks
are subjects mentioned in the report
and, to me, are very important
and must also be debated
and discussed by us Latin Americans.
Thank you.