Economic Development and Asian Regional Cooperation

The Seminar on Asian Trade was convened by the institute ofDevelopment Economics, Karachi, to discuss certain economic problemswhich, to a great or less degree, are common to Asian countries and toconsider possible methods of economic cooperation among them. There were25 members from 15 nations, all of which, apart from that of the"Observer", were Asian. Twenty-two papers were presented. The purpose ofthis preliminary report is to give an account of some of the salientideas that were put forward. The "Observer" may perhaps be allowed totake this opportunity of recording his impression of the very highquality of the discussions, in respect of their intellectual acumen andbrilliance and of the sound grasp of fundamental economic theorymanifested by the participants. He does not recall attending any Seminarthat out-classed this one in these respects. Thus, the non-Asiancountries, which should be seeking a deeper understanding of Asianproblems and be giving thought as to how to shape their own policies inthe spirit of cooperation, on the basis of the mutual interdependence ofprosperity in the world as a whole, may have confidence that, at the toplevel, there is economic thinking of the highest quality in a number ofAsian countries. It does not follow that there is at present asufficient amount of economic competence at any level. Attention will bedrawn later to the urgent need for these countries to build up at thequickest possible rate the number of technologists and otherprofessionally well-qualified classes; not less important is the need toincrease the number of those competent in economics, especially as thesituation urgently requires a greater amount of economic planning, whichis in fact in progress, than may be needed in the more advancedcountries.