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May 05, 1976 - Image 11

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Publication:
Michigan Daily, 1976-05-05

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Wednesday, May 5, 1976

THE MICHIGAN DAILY

Page Eleven

Kissinger warns
emerging nations

RIY bI1Y ~lM Y/Yl

NAIROBI, Kenya W) - Secre-
tary of State Henry Kissinger
cautioned Third World nations
yesterday against using 'bloc
economic power" to narrow the
economic gap between rich and
poor countries. But he pledged
Ambrican cooperation in their
development efforts.
"The Third World has to
choose between slogans and
solutions, between rhetoric and
reality," Kissinger told some
two dozen cabinet ministers
gathered here for the opening
today of the month-long U.N.
Conference on Trade and De-
velopment (UNCTAD).
AT THE SAME time, UNCTAD
Secretary-General Gamani Corea
said poor countries must help
themselves become richer and
outlined a four-point program to
reduce poor-country dependence
on trade and aid from industrial
powers.
Corea's proposals include less
use of dollars and other hard
currencies in trade, new invest-
ment arrangements bypassing
Western-dominated institutions,
tariff concessions among poor
countries for each other's pro-
ducts and steps to increase food
production.
At the conference, the U.S.
will propose creation of a multi-
billion-dollar international s e-
sources bank designed to attract
new private investments to de-
veloling countries.
HOWEVER, the Ford -dmin-
istration a p p e a r a dead-set
against "indexing" - a system
of correlating prices of ail, cof-
fee, sugar and other commodi-
ties to what the Third World
countries most pay for indusrial
imnorts.
Kissinger said the proposals
he will make in his speech to-
morrow "go as far as it is pos-
sible for us to go." But, in a
conciliatory gesture, he said the
U.S. is prepared to modify them
in the weeks ahead.
"We will do our best to listen
to vo'r concerns," he told the
ministers at yesterday's lunch-
eon.

COREA, in his 8-page report,
said the world's poor majority
could never gain economic
equality with the rich, industrial
minority unless developing na-
tions learned to help themselves.
He said it was also in the self-
interest of developed nations to
close the global income gap.
Corea is from Sri Lanka, form-
erly Ceylon.
"'The developed countries can
be harmed by crisis conditions
in the Third World," he said. "It
is inconceivable that the de-
veloped countries can continue
a smooth and even growth and
rising prosperity within a global
framework in which the vest
mass of human population . . .
continues to remain in a state
of unrest."
The report listed five key
topics for the meeting, which
some observers believe could
mark a turning point in efforts
to solve the -world's greatest
peacetime crisis of inflation,
unemployment and monetary in-
stability in half a century.
THE TOPICS are how to
smooth out price swings in raw
materials providing most of the
Third World's export income,
how to ease poor-country debt
burdens, how to spread Western
technology in underdeveloped
areas, how to regulate multi-
national companies that domi-
nate world trade and how to in-
crease economic cooperation
among poor nations.
Some observers say failure
to re ch areement between
rich and poor nations on at least
some of the issues could bring
to a close a two-year period of
relatively amicable negotiations
following a U.N. General As-
sembly call for a new world
economic order.
Arab nations were reported
prirrotely seeking support for
excldi-g Israel from the meet-
nnd for admitting the Pales-
tine Liberation Organization as
an observer. There were also on-
offi-ial suarsestions that South
Africa shomld be excluded.

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