ID :
55236
Mon, 04/13/2009 - 18:35
Auther :
Shortlink :
https://www.oananews.org//node/55236
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TIME FOR ASIA TO CHANGE ECONOMIC CONSTELLATION : ECONOMIST
Jakarta, April 13 (ANTARA) - The ongoing global financial crisis should be a momentum for Asia to change its economic constellation and to create a better economic balance in multilateral institutions such as the International Monetary Fund (IMF) and the World Bank, a senior economist said.
"It is the right time for Asia, in this case Indonesia, to forge a different world economic constellation because Asia is coming out of the present crisis as the engine of growth," Prof Dr Emil Salim, a prominent economist during the New Order era, said here Monday.
He said Asia, especially Indonesia, China, and India with their big populations could become new economic powers in the region.
"In addition, there is better economic development in these three countries with an abundance of natural resources," Emil Salim said, adding that efforts to change the economic constellation against IMF and the World Bank were urgently needed.
he said the absence of the economic constellation would cause the countries in Asia to have bad judgment on the assistance from the two international donors (IMF and World Bank).
"When the multilateral institution only prioritize the interest of developed countries, bad judgment about their assistance would always happen. Thus, if they really want to save the world's economy, they should also make the Asian economy to grow well," he said.
He added that Indonesia's effort to reform IMF and the World Bank should be supported.***
"It is the right time for Asia, in this case Indonesia, to forge a different world economic constellation because Asia is coming out of the present crisis as the engine of growth," Prof Dr Emil Salim, a prominent economist during the New Order era, said here Monday.
He said Asia, especially Indonesia, China, and India with their big populations could become new economic powers in the region.
"In addition, there is better economic development in these three countries with an abundance of natural resources," Emil Salim said, adding that efforts to change the economic constellation against IMF and the World Bank were urgently needed.
he said the absence of the economic constellation would cause the countries in Asia to have bad judgment on the assistance from the two international donors (IMF and World Bank).
"When the multilateral institution only prioritize the interest of developed countries, bad judgment about their assistance would always happen. Thus, if they really want to save the world's economy, they should also make the Asian economy to grow well," he said.
He added that Indonesia's effort to reform IMF and the World Bank should be supported.***
