Pascal Lamy at the 2011 Panglaykim Memorial Lecture

On 14 June 2011, the Center for Strategic and International Studies (CSIS) Jakarta organised the 2011 Panglaykim Memorial Lecture. Pascal Lamy the Director General of the World Trade Organization (WTO) was giving his public lecture on “Harnessing Global Diversity”.

After a welcome from the Executive Director of the CSIS Rizal Sukma, Trade Minister Mari Pangestu, who is also a daughter of Prof Panglaykim, opened the memorial lecture. She shared the lessons she’s got from her father who passed away in 1986 about the importance of formal education, which she said ‘was not enough’ as we need to get out there and get real life experiences. Economist M.Chatib Basri of University of Indonesia was moderating the lecture.

See the text of Mr Lamy’s speech here.

The following 13-minute video presents Minister Pangestu’s opening speech and Lamy’s lecture (due to some technical reason, the duration of the video has been reduced. Apologies for this inconvenience).

Summarising Mr Lamy’s lecture, deglobalization will not and should not happen. The world economy is now eight times larger than it was in 1950 — and world trade has expanded 33 times since then. Technological progress continues. The remaining challenges, however, require countries to work together to solve global issues. Unity in our global diversity. Bhinneka Tunggal Ika.

Lamy’s point that can be further discussed is the increasing importance of emerging economies, the BRIC. Coined in 2001  by Dominic Wilson of Goldman Sachs, BRIC refers to Brazil, Russia, India and China, which are experiencing rapid economic growth. Since then, the term has come to symbolise the shift away from the G7 advanced countries (the US, Japan, Germany, France, the UK, Italy and Canada) toward the four BRIC economies as a new centre of world economic power. According to Senior Economist Thee Kian Wie, if Indonesia can tackle corruption and infrastructure issues, Indonesia can join the ‘BRIC nations’ and turn from BRICs to BIIC. As President Yudhoyono said in Davos earlier this year “Asia is more than India and China”.
This post is prepared by Risti Permani.




1 Comment

Filed under Conference, Economic Integration, Indonesia, Trade

One response to “Pascal Lamy at the 2011 Panglaykim Memorial Lecture

  1. Pingback: Pascal indonesia | Myvinylexpress

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