29 - Perception of Interdependence But Lack of Meaningful Action (1984)

Summary

Introductory Note: In 1984 the Yomiuri Shimbun, one of Japan's leading dailies, invited me to deliver a keynote address at the 1984 Yomiuri Symposium on the International Economy. The keynote address was delivered on 17 May 1984 and published in the Daily Yomiuri of 18 May 1984. In the address I refered to the increasing perceptions in the world of the growing interdependence of the world economy which, however, are not translated into meaningful actions. I further encouraged Japan — which had the highest growth rate, the lowest unemployment rate and the lowest inflation rate among the industrial countries during the years of severe recession — to be more assertive in taking up new initiatives to respond to the economic crises facing the world.

The organizers of the 1984 Yomiuri Symposium on the International Economy are to be congratulated for their choice of the overall theme of this symposium: “Human Development in an Era of High Technology — Implications for an Interdependent World Economy”. This overall theme has been further divided into three sub-themes: (1) “Revitalizing the Economies of the Industrialized Nations”, (2) “Strengthening the Infrastructures of the Developing Economies”, (3) “Towards Human Development — North-South Interdependence”.

I am impressed by the emphasis given by the organizers on the human aspects of these problems. They believe that “human constraints” can be a serious or even disabling obstacle, which is to be overcome by “human development” — the development of the abilities of people in the widest sense of the word. In particular with respect to the topic on “North-South Interdependence” the organizers of this symposium stress the importance of overcoming human constraints, particularly the international perception gap existing among national leaders.

Indeed, a significant evolution has taken place in international perceptions concerning interdependence in the world economy. A number of years ago the interdependence between the North and the South, between the economies of the industrialized countries and the developing countries, was not yet widely recognized. The countries of the Third World were considered to be on the periphery or at the margin of the global economy and there was only a one-way relationship with the industrialized countries in the center.

At present there seems to be a growing awareness of the economic interdependence between the industrialized North and the developing South.