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It added that commodity buffer stocks for the purpose of price stabilization should be considered, especially for major food grains and non-ferrous metals. The main thrust of the 68-page document is that an interdependent world must be better managed, because there are inherent conflicts between interna- tional cooperation and national interests. The anthors suggests that instead of "playing it by ear," the tritateral com- tries should evolve a strategy for management of the international order that will provide "sense of direcion" for the next couple of decades. As essential goals, they list "keeping the peace, managing the world economy, contributing to economic development and the satisfaction of basic human needs, and promoting human rights." The report contends that the trilateral nations "must assume teadership of the system," which will require informal but close collaboration in economie policy making, especially among the U.S., West Germany, and Japan. It recommends guidelines to keep the various issues separate ("piecemeal tane- tonalism"), accompanied by an effort to decentralize decision making. The proposal for making the IMF into a central bank was set out the detail to illustrate how the proposed guidelines could be applied to international mone- tary problems, The core of a future International monetary system. Cooper-Kaiser-Kosaka say, must be "agreed and operated" by the 5 to 10 biggest coumtries. The other coun- tries could then adopt "a wide variety of arrangements ... around that central core." 103 The IMF would provide only a forum for "discussion of ongoing developments," while proposals for formal changes should "originate" with the big powers. The need for transforming the IMF into a central bank was said to derive from good management of the flexible exchange rate system, and in order to make Special Drawing Rights (SDRs) the source of most additional monetary reserves. "If SDRs become the principal reserve asset," the report says, "the IMF will play a central role as creator of international reserves." Question 1. Does the State Department and the Administration of Trilateralist President Jimmy Carter endorse the conclusion in this report written by Tri- lateralist Under Secretary of State for Monetary Affairs, Richard N. Cooper- (a) that the present "international order... is no longer adequate to cope with new global problems"? (b) that the international Monetary Fund should be converted into an international central bank? mailoten om A1