Richer APEC Members Urged
to Help Poorer Members: Mahathir

Malaysian Prime Minister Mahathir Mohamad said Tuesday that the richer APEC members should give a helping hand to the poorer members , apart from working as a group to influence the international affairs.

In an interview with Xinhua at his office here, Mahathir said, APEC consisted of members at different stages of development. Some were poor and some were the richest in the world. The richer members should provide technology, know-how and training to the poor members.

It was important that APEC should help the poorer members to catch up and develop, so that they could be better than their present status and this was one of APEC's agenda, Mahathir said.

"Secondly, we have to work together to influence the development of the world's economy, thus benefiting everyone including the developing countries," he said.

In regard with the on-going globalization, Mahathir said the globalization meant coming together of all countries economically. But interpretation of the globalization must take into consideration of differences in the world, "you can not have one formula for all countries."

"At the movement, the globalization is interpreted as freedom of access of capital to all countries. Freedom of access is very good, but sometimes when capital flows out suddenly, then certain countries will collapse, so there must be some regulations," he observed.

He also criticized some people only cared for their business and profits, regardless of the social cost and social effects of other.

"The globalization should not be interpreted in present way. It can be reinterpreted so that the interests of the rich and poor nations are given fair consideration," he concluded.

(Xinhua News Agency 10/17/2001)

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