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October 26, 2001
Council on Foreign Relations
[Note: A transcript of this meeting is unavailable. The discussion is summarized below.]
October 26, 2001
Hafiz Pasha, Speaker
Mark Malloch Brown, Presider
Mort Halperin, Co-Chair
Mike Weinstein, Co-Chair
On Friday, October 26, the UN Development RT held a meeting entitled “Generating Economic Development & Democratic Stability in South Asian & Middle Eastern Countries,” with Dr. Hafiz Pasha/Dir. of Asia & Pacific Bureau at UNDP and former Finance Minister of Pakistan. Mark Malloch Brown/UNDP presided. Mort Halperin/Mike Weinstein chaired. This first meeting of the UNDP/CFR RT series on development began by providing participants with a birds-eye view of the economic and political situation in the region.
South Asia is running the risk of being declared the backwater of Asia. The region houses around 22% of the world’s population, and its per capita income is one of the lowest in the world. Since the 1990s, growth rates in a number of countries in the region have decreased. South Asia has been bypassed by globalization. It has over 40% of the Asian population—South Asia only accounts for less than 5% of Asian exports and less than 4% of Asian foreign direct investment. Social indicators are very low and though population growth has been decreasing, it still remains relatively high.
Both internal and across-border conflicts exist throughout the region.
Regional political systems vary, but democracies are not strong and people have little rights and power. The region needs to focus on reaping the benefits of globalization and growth.
Participants discussed the impact of cultural and religious norms on development. The sources of fundamentalism are complex. People in the region feel globalization is passing over their countries, and they are frustrated by the lack of realization of the possibilities of growth and development. Ways to improve the investment climate were discussed and included attracting diasporas and increasing confidence internally and externally by strengthening institutions of government, as well as by improving governance.
Aid is not the solution to underdevelopment, but in order to avoid further alienation of people, there is a need to make visible improvement quickly. Civil society, government and the private sector need to work together to improve development.
A lot of issues and questions were raised in this first meeting, providing ideas and enthusiasms for future breakfast meetings. People showed interest in holding meetings on the cultural factors that foster poverty and inequality, and the relationship between corruption, bad governance and underdevelopment.
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