MEDIA RELEASE PR40046
Asia's Leadership Opportunity
WASHINGTON, June 17 /PRNewswire-AsiaNet/ --
Mercator XXI, LLC President and CEO Christopher G. Caine delivered remarks on
Global Economic Dynamics: Their Impact on Asian Leadership and International
Relations at the 2010 Shanghai Forum at Fudan University, Shanghai. The Shanghai
Forum is a premier conference focusing on Asia and globalization issues. For five
years, the Forum has convened elite members of the international community to
exchange perspectives on issues of particular relevance to Asia.
Caine was asked to present on the theme of "The Restructuring of International
Relations in Asia." This sub-forum was chaired by Professor Dingli Peng, Director for
the Center for American Studies at Fudan University.
In his address, Caine stressed the importance of emerging market involvement in
the global economy following the financial crisis of 2008, and highlighted forces
which should be driving these "new growth economies" towards a more active role in
global leadership. "Global economic integration and structural change were defining
features of the decade spanning from 2000-2009. Frequently overlooked during this
period has been one of the decade's most noteworthy developments - an upheaval in the
global economic order."
Caine highlighted among the changes to the global economic framework was the rise
of Asia as a center of economic stability: "Asia's share of the global economy (in
purchasing power parity terms) increased from 7 percent in 1980 to 21 percent in
2008. And since 1995, Asia's real GDP has grown more than twice as fast as that of
America or Western Europe." Caine noted the efforts of China in particular, citing
that, "in 1999, the top five exporting countries were the United States, Germany,
Japan, France and Britain. China was the world's ninth-largest exporter. Ten years
later, China was the largest."
The Mercator XXI president continued with a warning that Asia's great strides in
economic progress "could be jeopardized if these nations do not seek (or are not
granted) opportunities for global leadership. With this progress comes higher living
standards, deeper engagement with other economies, and an opportunity for governments
to take a more active role in international affairs".
Caine posited that the financial crisis has given these emerging economies a
chance to become active leaders in the global economic order. "Today, the
architecture is out of step with the profile of the global economy. The G-7, which
includes Canada and Italy but not China or India, accounts for just 55 percent of
global economic output and 39 percent of global trade."
Caine identified the emergence of the G-20, whose protocols and responsibilities
remain to be established, as the new global framework through which Asia in
particular can assume a leadership role. "The sudden emergence of the G-20 reflects
the recognition among global leaders that its membership is a more accurate
reflection of the global economic order than the G-7, with the member countries
generating about 90 percent of global GDP, and accounting for about 80 percent of
global trade. But the G-20 is still establishing its protocols."
Caine also emphasized the need for Asia's private sector to lead as well in this
push for more global responsibilities: "Just as Asian countries need to exercise
leadership on a range of economic issues, so do Asia-based companies now that they
are achieving global prominence and success. One element of that leadership is
playing a constructive role in helping to shape the new global landscape so it
reflects Asia's more prominent role. That means engaging to support trade
liberalization and other market access measures." He called on Asian public and
private sector leaders to play an active role in the G-20 government and business
summits in Seoul this coming November.
Caine went on to note the business potential derived from inspired and creative
leadership.
"Will these opportunities be realized? In the end, that is a question only the
people of Asia and elsewhere can answer. But a key determinant will be whether the
continent's political and business leaders can exercise leadership around a
constructive and enabling reset of the global economic architecture - one that
reflects Asia's place in the world and for a fortified and healthier global economy."
Other topics covered at the Forum included Recover & Restructure: Asia's
Sustainable Growth, Dynamics of Economic Integration in Asia, Restructuring after the
Global Financial Crisis, Emerging Energy & Low Carbon Economy, Re-adjustment of World
Economy & Regional Cooperation, Reflection of Asian Cities after the Financial
Crisis, Public Policies in a Changing World, and The Impact of China's Economic
Recovery.
Several prominent Chinese and international leaders attended the Forum and
delivered keynote speeches, including Shaukat Aziz, former Prime Minister of
Pakistan; Tiehui Weng, Deputy Secretary General of Shanghai Government; and Jiaxuan
Tang, former State Councilor of China. The success of the previous Shanghai Forums
attracted many VIP's in 2010. They included Jian Chen, former Undersecretary General
of the United Nations; Hans van Ginkel, former Undersecretary General of the United
Nations; Luzviminda Padilla, Undersecretary of the Dept. of Labor & Employment,
Philippines; Winston Peters, Minister of Foreign Affairs, New Zealand; Etsuhiko
Shoyama, Board Chairman of Hitachi Electric Company, Japan; Yamasaki Taku, Member of
the House of Representatives, Japan; and Michael Spence, 2001 Nobel Laureate in
Economics.
The take-away from the 2010 Shanghai Forum was an overwhelming consensus that the
world order is changing rapidly and that the situation in Asia is becoming more
complex than ever. Asia needs to restructure itself across the board in areas such as
economics, politics, social affairs, and culture. This restructuring is essential as
it ensures Asia's continuous development. It is imperative that all Asian countries
work together to help promote this change.
For a copy of Caine's full paper as presented and more information on Mercator
XXI, LLC and the 2010 Shanghai Forum, please visit:
SOURCE: Mercator XXI, LLC
CONTACT: Stephanie Tackach,
463 Communications,
+1-202-463-0013 ext 207,
Stephanie.tackach@463.com,
for Mercator XXI, LLC
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