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NEWS- Most ASEAN Leaders Fear Globa
- Subject: NEWS- Most ASEAN Leaders Fear Globa
- From: Rangoonp@xxxxxxx
- Date: Tue, 15 Dec 1998 20:01:00
Subject: NEWS- Most ASEAN Leaders Fear Globalization
NOTE: Most ASEAN Leaders Fear Globalization. They can't accept that
they are the cause of their country's problems and econmic woes.
Globalization will cause them to loose their power over the people and
possibly their great wealth. Thailand and the Philippines have learned
and changed. But can the others do the same???
ASEAN Leaders Warn of Dangers of Globalization
AP
15-DEC-98
HANOI, Vietnam (AP) -- Despite their professed unity,
Southeast Asian leaders today revealed divisions over
economic policy, with some complaining of pain from
globalization and others urging even faster steps to
integrate
their economies.
The conflicting stances provided evidence of the
difficulties
that Cabinet ministers had at pre-summit meetings in trying
to forge a consensus on action to restore confidence in a
region suffering its worst economic crisis in a
half-century.
The ministers agreed on a list of "bold measures" that their
leaders are expected to endorse at the two-day summit of
the Association of Southeast Nations, which started today.
However, leaked reports on the plans have failed to
generate enthusiasm in world markets.
Nine-member ASEAN includes industrialized countries and
some of the world's poorest nations, leading to natural
splits
on the scope and speed of tariff cuts and investor
incentives.
Malaysia and Vietnam were at one end of the spectrum
today, warning of the dangers of economic globalization,
while Singapore, Thailand and the Philippines said the trend
toward greater integration of markets is inevitable and
should be embraced.
As usual, Malaysian Prime Minister Mahathir Mohamad was
the most outspoken, criticizing world leaders who stood by
as "predatory speculators" set off Asia's economic crisis
and
then blamed hard-hit countries for causing their own
problems.
"Instead of reining in the currency manipulators, they
allowed
them to destroy the economic tigers," he said, using the
nickname for Asian countries fast on their way toward
building industrial economies. These unidentified world
leaders wanted to bring the "tigers" low so as to force them
to seek help from the International Monetary Fund, Mahathir
said.
But Thai Prime Minister Chuan Leekpai urged accelerated
integration of the regional economy.
"We cannot stop the process of globalization, but we can
better prepare ourselves to meet its challenges," Chuan
said.
He also underscored Thailand's stance that economic
recovery is linked to greater democracy and respect for
human rights.
This stance is not likely to impress communist Vietnam and
Laos or the military regime in Myanmar, known also as
Burma. These governments have been criticized for their
human-rights records and have resisted any change in
ASEAN's policy of non-interference in its members' internal
affairs.
Philippine President Joseph Estrada called for ASEAN to
"move and move boldly," on economic integration, and urged
more frank discussion between ASEAN countries.
Speaker after speaker highlighted the region's stability but
noted that the economic crisis has taken its toll.
Indonesian
President B.J. Habibie called it "devastating."
The crisis has led to some calls for affected countries to
open their markets more quickly. Vietnamese Prime Minister
Phan Van Khai said such a move creates both opportunities
and problems.
"Rapid economic globalization is bringing about greater
market access and new partners for development, but also
putting the weaker economies in a more vulnerable and
disadvantageous position, and in an uneven competition,"
Khai said.
Mahathir has long been critical of international currency
traders, blaming their unregulated activities for sparking
the
Asian economic crisis 19 months ago.
He made a pitch for the currency and stock-market controls
that his country have imposed in an effort to restore
economic stability.
"Until the international community agrees on an
international
regime that will remove the kind of dangers we have been
exposed to, we will have to continue with our controls,"
Mahathir said.
The leaders were to go into closed meetings later today and
Wednesday to endorse several documents, including their
"bold measures," then hold talks with their so-called
"dialogue partners:" Japan, China and South Korea.
ASEAN comprises Brunei, Indonesia, Laos, Malaysia,
Myanmar, the Philippines, Singapore, Thailand and Vietnam