By Ban Ki-moon
THE Boao Forum for Asia is going to celebrate its 20th anniversary in just a few months’ time. This is a moment of significance, with much to look back on and much more to look forward to; much to celebrate and much more to envision; much to take pride in and much more to think and plan ahead. It’s a moment of festivity, honor and responsibility.
For an institution, 20 years is but a short time span. The Boao Forum still looks “young” as compared with its international peers. But its short history coincides with one of the most challenging yet dynamic periods of Asia. Its mission reflects the needs, wishes and fundamental interests of Asian countries. Its endeavor involves the broadest possible stakeholders of peace and prosperity in Asia.
Providing solutions for pressing challenges
Each spring, more than 2,000 heads of state, government leaders, CEOs and economists come from Asia and around the world for a four-day intensive, thought-provoking and forward-looking gathering on the most pressing issues of the time. This is an occasion for Asian and world leaders to listen to one another, exchange views, coordinate policies and take concerted actions. It is not only about governments but about business leaders, scholars and experts as well. It is the collective vision, wisdom and judgment of the one “Boao Family” that forms the voice, ideas and solutions for pressing challenges.
The forum was conceived with a mission. Greater levels of economic cooperation help bring Asian countries closer to their development goals. The ultimate goal is to achieve common prosperity through Asian economic integration. This is enshrined in the Forum’s Charter, and reaffirmed and reinforced in each and every annual conference over the past 20 years as the everlasting theme.
The path toward that goal is bumpy, but the progress turns out remarkable. Today, Asia has become the most dynamic growth engine in the world. Twenty years of growth and structural reforms have placed Asian economies on a much sounder footing. Their resilience and strength have withstood the tests of the 2008 global financial crisis. Emerging markets such as China and India have risen to global significance. Victims of the 1998 financial storm such as the Republic of Korea have moved into the high-income ranking. Latecomers such as Vietnam, Cambodia, Bangladesh and the Philippines are now shining growth stars.
Intra-regional trade playing bigger role:
Not only have Asian countries done well individually, but they have also done well together in close cooperation and coordination with one another. Intra-Asian trade and investment now account for more than half of the total, meaning that Asian countries turn more to one another for economic opportunities than to North America and Europe. Regional and bilateral trading arrangements have bound Asia together more than ever. Mega-deals such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership have made or are making good progress.
Bilateral free trade agreements have not only expanded coverage, but also upgraded to much higher levels. Free flow of goods, services, capital and labor has become a reality in many parts of Asia. The Asian continent is much more inter-connected and interdependent than 20 years ago. So is the pride as Asians and the Asian identity that are integral to an economically integrated Asia.
Yet Asia’s development and integration are not isolated from the world. On the contrary, the past 20 years have largely coincided with the “golden days” of economic globalization. Particularly in the years prior to the global financial crisis, we enjoyed a period of synchronized global prosperity and boom in global trade and investment. The World Trade Organization tapped the potential of most countries by cutting tariffs and lowering barriers. The mood was confident, optimistic, open and forward-looking.
Things began to turn the other way with the 2008 crisis, and for the worse in recent years with the emergence of unilateralism, protectionism and de-globalization. Tariffs are again being used as a weapon for pursuing narrow national interests. Trade frictions loom larger and larger, pushing countries apart rather than drawing close. Multilateralism is giving way to unilateralist practices. Global institutions that have long underpinned global peace and prosperity risk being sidelined and marginalized.
Such negative developments cannot but endanger and derail the integration process of Asia and, further, its prospect of sustainable growth, running counter to the mission and purposes of the Boao Forum. We deem it our obligation and responsibility to speak out, loud and clear, for globalization, free trade, multilateralism and a shared future for Asia and the world.
– The Daily Mail-
China Daily news
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