International Forum: Timely Aid to Brazil ����The international community should provide efficient aid to Brazil, which is at the verge of financial turbulence. ����It is not groundless that people worry Brazil might be the second Thailand of 1997, due to the current situation in this country. Though we cannot say that big financial crisis will break out in Brazil in the near future, the financial situation there is very subtle, which cannot be eased in a short period and might even worsen at any time. ����Once Brazil drops into crisis, the financial turmoil will rapidly spread to the whole Latin American region, then implicate the United States, which has close contacts with the Latin American economy. Meanwhile, Europe and Asia will also be affected to some extent, which will result in the slowdown world economy slipping into inevitable recession. ����The Brazilian government cannot pull itself out of the non-optimistic financial situation, because of its unsolved debt disputes, the loss of half of its foreign exchange reserve and the big amount of outflow of foreign capital, which severely impair Brazil's financial market control ability. ����In the past two years, with the speeding up of the economic globalization, the drastic financial turbulence has appeared one after another. The international emergency aid is crucial under the condition of irrational international financial order. We should learn lessons from the fast spreading of Thailand economic crisis which can be stopped if only the capable economic powers provide all-out support instead of adopting the wait-and-see policy. ����The economic powers and related international organizations should first take their responsibility to give aid to Brazil in time. The big powers are directors and beneficiaries of the irrational international financial order, and the hedge funds and their owners all come from these countries, so that they should supervise and control the financial turbulence. ����Brazil is at a critical moment, the international community should continue their support to the Brazilian government, especially the promised international aid fund, so as to reduce the pressure on Brazil's financial market, which is good for the government to implement the more efficient self-rescuing policy. ����The economic globalization needs global cooperation and helping others will mean helping oneself. The financial turbulence of Brazil and its potential danger, once again show an emergency sign of changing the current irrational international order. ����Only through reforming the international financial system and establishing a rational global financial supervisory and managing system while at the same time all nations in the world adopting measures to perfect their financial and monetary systems, can similar financial turmoil such as those happened in Thailand and Brazil be avoided or resolved. ���� ���� WorldNews 1999-01-22 Page6 Full Story in Chinese