Forbes Participants Express Optimism about Asia-Pacific Region

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Last updated at: (Beijing Time) Thursday, September 26, 2002

Forbes Participants Express Optimism about Asia-Pacific Region

World top CEOs continued to pool their opinion at the ongoing Forbes Global CEO Conference Wednesday in Hong Kong, expressing optimism about the economic development of the Asia-Pacific region.

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World top CEOs continued to pool their opinion at the ongoing Forbes Global CEO Conference Wednesday in Hong Kong, expressing optimism about the economic development of the Asia-Pacific region.

At the session entitled "Thought for the day: Conflicting currents and Asia's new paradigm," Yuwa Hedrick-Wong, Economic Advisor of the MasterCard International noted that technology development, consumption revolution as well as the rise of China and the change of Japan are the elements shaping the Asia-Pacific region.

He said while Southeast Asia's exports to the United States shrink, its exports to China grow, which serves as proof that China "create benefit for all of us."

Thomas Weidemeyer, Chief Operating Officer and President UPS Airlines, United Parcel Service, briefed the participants of his company's latest development in the Asia-Pacific region, which demonstrates that they are "big believers" in the economic future of the region.

Weidemeyer explained that his optimism was the results of the greater regional economic integration, the rising of the middle-class, urbanization, developing consumer power, and the fact that China is emerging as a world manufacturing center.

Chairman of the Swire Pacific James Hughes-Hallett echoed Weidemeyer's optimism, adding that China would continue its GDP growth rate.

He also expressed belief that the process of WTO in China would go smoothly, which is generally recognized as facilitating business opportunities for the economic development of the Asia-Pacific region.

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