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The World Economic Crisis

A Commonwealth Perspective: Selected Background Papers Prepared for a Commonwealth Group of Experts

image of The World Economic Crisis

The papers included in this volume were prepared to assist the Group of Experts which the Commonwealth Heads of Government, meeting in August 1979, had requested the SecretaryGeneral to assemble in order to “investigate and report on the factors inhibiting structural change and a sustained improvement in economic growth” and to identify specific measures by which developed and developing countries, Commonwealth and nonCommonwealth might act to reduce or eliminate such constraints as a matter of urgency”. The Group consisted of 10 experts who served in their personal capacities and were drawn from a representative range of developed and developing countries. During the first half of 1980 they met three times, and in July 1980 their Report was published by the Commonwealth Secretariat under the title ‘The World Economic Crisis: A Commonwealth Perspective’ (ISBN: 085092183X).

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Industrial Adjustment Policies

Protectionism is on the increase. The persistent recession and rising unemployment are the main reasons for the political pressures in industrialised countries Which have encouraged protectionist policies. It is still widely accepted in official circles in these countries that the current problems facing the industrialised countries cannot be solved by protectionist ‘beggar my neighbour’ policies and that a resumption of reasonable levels of growth would depend on the continuation of the underlying post-war trend towards more liberal trading policies and a more open international trading system.

English

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