The Current Crisis in International Economic Co-operation

Abstract

I have chosen as my theme the current phase in international economic relations. Some people are perhaps surprised that I describe it as a critical period for international economic co-operation. Has international economic co-operation really been such a sturdy plant that we should consider any wilting of it as of critical importance? What exactly are the dangers that we foreseee, and can they not be just an example of the usual ups and downs in international affairs rather than a pointer to a sustained downhill process? What are the factors that are responsible for the prevailing sense of gloom in regard to economic co-operation among nations? And what is it that we can do to dissipate the danger and at least keep the damage within reasonable proportions, until circumstances alter to permit a more dynamic vision of hope for the future? These are, I submit, important questions and it is of the utmost importance to all of us, particularly in the developing word, that we deal with them in a correct perspective.KeywordsGross Domestic ProductOfficial Development AssistanceInternational Development AssociationWage IndexationRural ElectrificationThese keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.