Annex II

Transnational Corporations and International Production Concepts, Theories and Effects, Cheltenham Edward Elgar.

(a) Appeals Division Georghios Pikis (Cyprus), President of the Division Philippe Kirsch (Canada) Navanethem Pillay (South Africa) Sang Hyun Song (Republic of Korea) and Erkki Kourula (Finland)

Mr. Song Young whan (Republic of Korea) said that it was essential for the Fifth Committee to give directions to the Committee on Contributions with regard to its future discussion of the scale methodology.

Mr. Sin Song Chol (Democratic People's Republic of Korea) said that his delegation wished to draw attention to the issue of comfort women , which needed to be resolved as early as possible.

Mr. Song Young wan (Republic of Korea) said that in its discussion of results based budgeting, inputs and outputs, accountability and oversight, the Committee should not overburden the United Nations with too many new requirements.

Mr. Song (Democratic People's Republic of Korea) said that in order to strengthen the United Nations it was essential to ensure its central role in addressing international issues, and to that end it was necessary thoroughly to reject high handedness and unilateralism.

Mr. Song Se Il (Democratic People's Republic of Korea) said that the question of Palestine encompassed not only the right of the Palestinian people to regain their land, their national identity and their right to life, but also the whole issue of peace in the Middle East.

Mr. Sin Song Chol (Democratic People's Republic of Korea) The Democratic People's Republic of Korea categorically rejects draft resolution IV, entitled Situation of human rights in the Democratic People's Republic of Korea , submitted by the European Union, as a political plot against the Democratic People's Republic of Korea led by the United States of America and its allies.

Mr. Sin Song Chol (Democratic People's Republic of Korea) With regard to the statement delivered by the representative of Japan, my delegation thinks that, instead of seeking support for something which has already been settled and wasting time on that, it would be more appropriate for the Japanese Government and the Japanese delegation here in this room to seek more comprehension and more understanding on the subject that is outstanding between the two countries.

Hyun Song Shin of Princeton University proposed a theory of excess liquidity in a paper with Tobias Adrian that he presented last month at the Bank for International Settlements in Brunnen, Switzerland. He says that it merely reflects a feedback mechanism that is always present any initial upward shock to asset prices strengthens the balance sheets of financial institutions, so in response they borrow more and bid up prices even more.