Against the background of the 10th anniversary of the
devastating Asian financial crisis, this year's Boao Forum for Asia reminded us of the
necessity of closer Asian cooperation in dealing with such
crises.
More important, the annual forum showcases the great
opportunities and challenges Asian countries face in achieving
economic integration on the road to assuming a greater role in the
world economy.
With "Asia winning in today's global economy: innovation and
sustainable development" as its theme, the forum, held over the
weekend, addressed the evolution of the Asian economy and the
challenges of energy security and environmental issues.
It is high time for regional leaders to chart the future course
of Asian development since these are all key issues for societies
across the region and beyond.
A decade after the financial crisis that swept across the
region, Asian economies have resumed their role as the global
engine for growth.
Asia's gross domestic product has grown by more than 6 percent
annually in the past seven years, contributing to 20 percent of the
world economic growth.
The region's increasing power and potential are also reflected
in the fact that Asia's economy, trade and foreign exchange
reserves currently account for, respectively, one-fourth, one-third
and three-fourths of the world's total.
Sustained development in individual Asian countries has led to
increasingly closer economic links within the region, expanding
common interests and heightening awareness of the Asian
identity.
In fact, development and cooperation in Asia are enjoying
unprecedented momentum.
However, in spite of strong economic growth among Asian nations,
the region is worried about how to achieve sustainable development
in the face of pollution and the shortage of energy
resources.
?
That is why Chinese leaders called the Asian nations together. The
goal is nothing short of a new strategy for industrialization which
is driven by the high-tech sector, efficient in resources,
environmentally friendly and fully tapping the region's human
resources.
Admittedly, different levels of development and other
differences among economies in the region mean Asian integration
will not be realized any time soon.
But joint efforts can make a big difference in achieving shared
prosperity for the region through successful economic
integration.
(China Daily April 23, 2007)
