Representatives from four major underdeveloped areas of the world dis the economic problems facing their particular countries in a 20th Century Week panel discussion at Sanders Theatre last night.
Durique Menocal, former Secretary of the Cuban Sugar Institute, declared at the greatest hindrance to the Economic Development of Latin America is a total dependency of industry on imported capital and raw materials.
Instead of developing natural resources through the creation of new industries, said, most South American governments have allowed foreign interests to factories which depend on imports for most of their raw materials. Thus majority of the now industries do not stimulate long-range projects to make of the untapped Latin American resources. All too often foreign investors are owed to concentrate purely on their own interests without any stimulation of country's economy.
African Situation Difficult
Describing the particularly difficult problems of gearing a primitive African society to the modern world, Larry , a Nigerian delegate to the Nations, spoke of the economic development of Nigeria as "the marriage the existing Nigerian economy to industry." Nigerians must import such modities as Ovaltine, he said, despite fact that they are the world's second producers of cocoa, all because cannot process their existing raw materials.
The second problem Fabumi mention one of manpower. The Nigerians not educated for industry, and in the to the cities for education there is rapidly widening cultural gap between rural and urban areas.
Indonesian Economic Problems
den Sanoesi, counselor of the Development Minister of Indonesia, declared his country is facing a major reconnection from its war of independence. A new and inexperienced government, said, must try to satisfy the needs of people whose average yearly income is than $100, while at the same time to reconcile extremist splinter ties into a stable government.
ussif Sayigh, lecturer on Economics Princeton, stated that the Middle tern economy is hindered principally a lack of trained manpower. Political makes the development of an organized economic program impossible. nder the ordinary methods of economic development, he declared, "the get richer faster than the poor get poor." The problem in the Middle is how to raise the standard of of the poor without simply pouring money into the pockets of the rich.