ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Sino-Burmese Honeymoon Over

but nothing concrete has been done yet. At Algiers India is reported to have sounded the other countries on a proposal for a Payments Union membership of which would be open to all developing countries and sub-regional unions. This is a new idea and once there are a number of sub-regional and regional trade end payments groups a Payments Union would be certainly necessary to minimise the discriminating effects of these groups on non-member developing countries. This, however, is far from being the situation today and while it is well to take the long view, developing countries, including India, must re- coghfse that one of the main tasks of the second UNCTAD has to be to stimulate trade between developing countries, beginnings in which have to be made with small groups of countries.

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