Introductory Note: Every year the European Economic Forum organize the Davos Symposium at Davos, Switzerland, which usually are attended by many present and former cabinet members of developed and developing countries as well as important business leaders. Many officials from developing countries use the opportunity to attract foreign investment into their countries. I was invited to attend and address the Davos Symposium in 1982. While I highlighted some pertinent aspects of Indonesia's development and the opportunity they offer for mutually advantageous business and industrial cooperation, I spent some time explaining on how we in Indonesia agree with the view that the current state of the world economy was freewheeling into stagnation. The persistent crises of the world economy are symptomatic of a structural malfunctioning of the international economic system and a basic imbalance in international economic relations. It is indeed in the mutual interest of rich and poor countries:

• to increase the availability of financial resources to the developing countries through bilateral and multilateral channels to alleviate debt burdens, meet liquidity needs and ensure continued development;

• to increase world food production and to assure international food security;

• to achieve greater stability and predictability in the supply of raw materials at prices remunerative to producers and fair to consumers;

• to halt and reverse the present dangerous slide towards more protectionism;

• to provide the multilateral financial institutions with the necessary capabilities to play a greater role in channeling financial resources to the developing countries.