Let the Voice of Asia Become Louder and Louder

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Last updated at: (Beijing Time) Tuesday, October 21, 2003

Let the Voice of Asia Become Louder and Louder

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The annual meeting of the Boao Asian Forum will be held as scheduled from November 2-3. Correspondents of People's Daily recently had an interview with Secretary-general of the Forum Long Yongtu on some internally and externally concerned problems.

Question: Currently, there are a variety of forums at home, how do you look upon the vitality and particularity of the Boao Asian Forum?

Answer: The increasing number of forums shows a tendency toward diversity of the demand for knowledge, information as well as links when economy and society develop to a certain extent. The increasing liveliness of various domestic forums reflects the continuous progress of the Chinese economy and society.

Like any product in the market economy, the vitality of the Boao Asian Forum is determined mainly by market needs. There are several decisive factors here:

Firstly, the positioning of the Forum is "promoting the process of Asian economic cooperation and integration". The Boao Forum arouses concern because the whole globe is concerned with Asia. It can be ascertained that Asia is the locomotive of the world economy in the 21st century. The growth rate of trade in the region is continuously increasing, the total volume of trade currently accounts for one-fourth of the world total; the value of foreign exchange reserve remains high, the value of foreign exchange reserves of China and Japan alone has exceeded one-half of the world total; the two counties are also the places most attractive to foreign capital in the world, last year, over US$90 billion in foreign capital flowed into the region; at the same time, social and economic development is comparatively balanced, poverty-stricken population of Asia has decreased from 47 million to 26.1 million in the past 10 years. Briefly stated, Asia's economic activity determines the vitality of Boao Forum. Meanwhile, the opening mechanism of Boao Forum is to allow the world to discuss Asia, not the Asians discuss Asia behind closed door, that gives Boao Forum a world nature, thereby strengthening its vitality.

Secondly, from a worldwide perspective, regional economic integration represented by EU and North American free trade zones has taken shape or is being formed. However, the most vigorous Asia is lagging behind in this aspect, it lacks even a regional economic organization that covers the whole continent. This makes Boao Forum currently become the only tie that links Asia into one entity. The fact that leaders of some Central and South Asian countries will attend the annual meeting this year shows that they hope to participate in the vigorously developing East Asian economic integration process, thereby becoming part of the Asian economic express train. Even countries like Australia and New Zealand will also send representatives to attend the meeting, because they realize that the future of their economies lies in Asia. Linking up East, Central and South Asia together is precisely where the cohesion of Boao Forum lies, it also demonstrates the unique position of the Forum. Because of its uniqueness, it has vitality.

Additionally, making the Asian Forum headquartered in China's Boao is the choice of the world and of history. China��s economy is developing most vigorously and has the fastest rate of growth, like a magnet it is attracting the eyes of the world. The Boao Forum is the first large non-official international organization set up in China, it receives the vigorous support from the governments of numerous countries and provides a high-level dialog platform to government, business, and academic circles for common discussion on economic problems. Thanks to China, the China-based Boao Forum has generated vitality unmatched by other international forums.

Q: Since its founding, the Boao Forum has devoted its efforts to "letting the world hear Asia's voice", it seems that the voice is still not strong enough, in your personal opinion, what is the reason for this?

A: There is invariably a process for the development of anything. Presently, the strongest voice of global forums is from some forums directed by developed Western countries, for instance, the Davos World Economic Forum, this is determined mainly by its economic strength behind its back. Due to historical reasons, the world has little understanding of Asia, therefore, the resounding degree of the voice of Boao Forum, in the last analysis, depends on Asia's economic strength, the faster its development, the louder is its voice.

In Asia, there are the largest developing countries like China, the world economic power like Japan, as well as the poorest countries. Due to historical, cultural, religious and other complicated factors, the entire Asia is the world most varied and most diversified region, it is very difficult to form a unified, resounding voice without going through long-term links and understanding. We are confident in making the voice of the Forum become louder and louder. Speakers at this annual meeting will all be internationally top figures in the fields of finance, trade, investment, information and manufacturing industry, take the financial field for instance, we have invited the authoritative figure on the question of the US Dollar, Stephen Roach, chief economist with Morgan Stanley, Nobel-prize winner Robert Mundell, nicknamed "Mr. Euro", former Japanese Vice-finance Minister Professor Hideshi Kamihara, nicknamed "Mr. Yen", as well as Zhou Xiaochuan, governor of China's central bank, they will conduct high-level dialogs on today's financial and monetary policies, their own authoritativeness itself has a great appeal. Furthermore, we have established extensive ties with some international organizations; for example, we have determined to establish long-term strategic cooperative ties with World Bank, we have jointly sponsored a series of conferences of specialized subjects with the Asian Development Bank and various UN agencies, these organizations each have a team engaged in the studies of Asian economic questions, they will provide the Forum with a solid research foundation. Currently we are making preparation for the establishment of an Asian Economic Research Institute, so as to enhance Asia's ability to participate in approaching world economic problems, this is also a channel for intensifying the voice of the Forum.

Q: An important aim of China's entry into the WTO is to participate in economic globalization, whereas the Boao Forum is to promote regional economic cooperation, what's the actual significance?

A: Instituting an open regional economic cooperation will boost the development of economic globalization. Today, many countries have joined regional economic cooperation organizations. The Asian economy develops most rapidly, in the face of the tendency of global regional economic cooperation, the Boao Asian Forum should propel all-round cooperation within the region in a wider scope, such as finance, currency, trade, infrastructure facility construction and the development of human resources. The operation of free trade zones can promote the process of regional economic cooperation, but this cannot be seen as the only form, all-round efforts should also be made to spur economic cooperation. Running free trade zones in an isolated way, particularly the operation of closed free trade ones, goes against the WTO principles and is disadvantageous to participation in globalization.

Q: You resigned from your post as vice-minister of foreign trade and economic cooperation and took over the post as secretary-general of the Forum, what have you done over the past half year?

A: After I took over the task, I have mainly done the foundation work for the development of the Forum, the most important thing is to make use of various kinds of advantages to integrate global resources for the studies of the Asian economy, strengthen ties with noted government officials, experts and entrepreneurs in various countries and set up human resources network, making them serve the purposes of the Boao Forum. A forum is propped up by relying on human resources, the more solid the foundation, the wider is the prospect of this forum. We have confidence in making this annual meeting a successful grand gathering.

The above is an interview by People's Daily correspondents Gong Wen and Qu Zhehan with Asian Forum Secretary-general Long Yongtu, text of the interview is published on Page 6 of People's Daily October 20, and is translated by People's Daily Online staff.

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