Debt Management in Globalised Asia : Challenges and Options
Contents: Preface. Introduction. I. Dynamics of the new global economic order: 1. The economic trinity--IMF-WB-WTO: its operational dynamics/Mammen Varkey. 2. Emerging geo-politico economic trends in Asia/Mathews George Chunakara. 3. Debt trap in globalised Asia today: a study of methodology of research in Asian economics/Vedagiri Shanmugasundaram. 4. Globalisation and debt crisis in Asian countries/A.R. Veeramani. 5. Ethos of multinational companies/Saju Kurien. II. Country reports: 6. Public debt management in India: theoretical and empirical approaches/T. Lakshmanasamy and R. Arunachalam. 7. An economic analysis of external debt in India: before and after nineties/S. Iyyampillai and P. Balamurugan. 8. External debt management and social sector in India/K.C. John and Subhashini Muthukrishnan. 9. Sri Lanka's debt problem: an appraisal/Marshal Fernando. 10. Debt trap: the Philippine scenario/Priscilla R. Atuel. 11. China's financial reforms: a bird's eye view/A. Ranga Reddy. III. Human dimensions of debt: 12. Wealth and its spiritual dimensions/M.J. Joseph. 13. Debt: a theological perspective/M. Mani Chacko. IV. Debt relief perspectives: 14. Debt-free Asia: vision 2020/P. Jegadish Gandhi. 15. Debt crisis resolution in Asia: a futuristic outlook/V. Mathew Kurian. Appendices: 1. A statement of the Asian level seminar. 2. Additional readings. Index.
"Debt bondage has become a borderless problematic phenomenon through the ages. Over the past 25 years (1980-2005), the magnitude of debt crisis has worsened in most of the Asian countries. The various palliative prescriptions of economic trinity--IMF, WB and WTO--to overcome "debt overhang" has actually fallen short of expectations with side-effects demoralizing the basic politico-economic structures and social value systems in developing countries. The Jubilee 2000 coalition debt cancellation across the countries have intensively impacted the wisdom of "the Washington Consensus" messiahs including G-8 big brothers of world economic salvation. Against the emerging unipolar world, enveloping globalisation and enlarging debt tentacles, there is greater urgency to interface with the Asian level and global links of the debt dynamics today.
This compilation contains the concept paper, keynote address, seminar papers and documents of an Asian level seminar on debt trap in the globalised Asia today held at Ecumenical Christian Centre, Bangalore on January 27-29, 2006. The deliberations of the seminar singled out that only by building up the capabilities of people that debt crisis in Asia could be sustainably solved through the people-centric development programmatics and signalled an appeal to the donor agencies to "forgive" debts in the larger interest ushering in a new socio-economic order in Asia.
The book is divided into four parts. While Part I focuses on the new global economic order, Part II presents country reports on India, China, the Philippines and Sri Lanka, Part III touches on the human dimensions of debt bondage and relief. Part IV deals with the debt relief perspectives pertaining to debt crisis resolution in Asia and Debt-Free Asia vision 2020.
A statement issued by the participants of the Seminar and additional reading materials are also included for a wider discussion.
How do we make sure that will debt relief raise growth substantially? Will debt relief benefits poor people? And how can we ensure that poor countries in Asia do not get into debt trap again? These are some of the key policy issues and programmes covered in this extremely useful book." (jacket)
