“Shanghai Forum 2014”
Asia Transforms: Identifying New Dynamics
The current world economy is going through an in-depth adjustment. Some developed countries and economies are recovering slowly while the emerging market economies are facing an economic slowdown. There is an insufficient overall momentum that exerts a far-reaching influence on the political, diplomatic, social and cultural affairs of all countries. On the other hand, the widespread use of the Internet and big data as well as the enthusiasm of the young generation in innovation and entrepreneurship also brought unlimited possibilities for the economic and social development of each nation. Under the circumstances, Asian countries are facing.
While the shadow of the Western financial crisis still lingers, global economic recovery faces many difficulties and the pattern of international development is highly intricate. In the face of a complex and severe macroenvironment and increasing pressures of competition, Asia shows remarkable vitality and spectacular potential for development. Drawing on Asian wisdom, converting challenges into opportunities and pressure into impetus has become an important engine and source of stability for global economic growth. Meeting challenges together, Asian countries have made impressive achievements, shoring up the confidence and strength of countries all over the world.
Going from good to better! With wisdom and hard work, billions of Asians are walking onto the center of the world stage; peace, development, and winwin cooperation is and will continue to be the major theme of this era. However, there is still a long way to go in striving for greater development in Asia and pushing for better mutual development with other regions of the world. Currently, the global economy is undergoing a process of profound restructuring, risks in international finance are still high and protectionist barriers are adding in number. Improvement of global governance mechanisms is urgently needed and the demand for a transformation and upgrade of the economic system is clear and inescapable. Without transformation, Asia will neither be able to follow the pace of new scientific and technological revolutions, nor to fully drive forward the process of industrial innovation and produce favorable prospects for development. And without transformation, Asia will neither be able to make up for the ruptures in foreign markets, nor to completely escape Western protectionism which stifles the upwards momentum of development.
Nothing ever ceases to transform! Asia has a long-lasting spirit and tradition of transforming itself. In order to break down the existing hindrances of development and allow Asia’s vitality to burst forth, it is necessary to change the model of economic growth and increase efforts to adjust the economic structure; there should be more focus on the quality of development and the betterment of people’s livelihood. Meanwhile, it is indispensable to actively participate in the adjustment and reform of global governance structures and the international financial system, as well as to promote the deepening of regional and subregional collaboration between emerging economies of Asia and other parts of the world. The strengths of Asia’s reform and development must be employed in order to bring about a new rise and firmly ensure the ability of the world economy to realize healthy, strong and sustainable growth.
Looking at the past, Asia abounds with the histories of glorious civilizations and has made countless remarkable achievements. With a modern history full of trials and tribulations, Asia continues to develop in the midst of stormy weather.
At present, Asian countries are in a period of economic restructuring and social changes happen at an accelerated pace. Factors such as rapid urbanization, population aging and pressure on environmental resources bring about huge challenges to traditional models of social governance and welfare institutions. Asia stands at a new starting point and in the face of new circumstances and new problems, the experiences of developed countries are no longer adequate for dealing with those challenges. Asian countries must make use of Asian wisdom, constantly strive to become stronger, and break new ground to move ahead. In the context of globalization, Asian countries should use new concepts of development, innovative system design and effective policy measures to identify and make the most of the new dynamics for development. The next decade will be a crucial period of transformation and development for Asia. To share opportunities and meet challenges together, cooperation should be taken into new domains while new forms and functions of collaboration should be explored. In order to emphasize security-related and pragmatic cooperation, the establishment of solid networks for interconnection and communication in multiple area should be promoted. More opportunities for cooperation should be created while the standard of cooperation should be raised. The results of development should benefit each country’s populations, and the breadth and depth of integration between Asia’s transformation and the interests of the world should reach a new level.
The twenty-first century is Asia’s century. Asia’s development is no longer based on imitating and catching up, but on surpassing and innovating. Asia will dispense with the traditional development path and explore a roadwhich is different from Western modernization. Asia will fully absorb new ideas of institutional mechanism reform, seize the command of scientific and technical revolution and foster new points of economic growth. Innovation will be Asia’s way to overcome the difficulties of transformation and to show the way for economic and social progress.
Asia’s transformation holds both opportunities and challenges, and hopes and hardships. To realize its transformation, Asia has to adhere to open regionalism: engage in equal dialogue on the economy, strengthen cooperation and promote regional economic integration. Political disputes should be put aside through mutual compromises and a common voice should be sent out on global governance. Cultural trust and mutual respect should be improved, while conflicts and divergences should be solved with solidarity. The Asian countries share a common destiny and Asia’s transformation is an important strategic direction of the Asian countries’ joint self-improvement and moreover the strong impetus for win-win cooperation among all the Asian countries. Answering the call of our times, keeping the right direction and supporting each other, Asia’s transformation will benefit all Asian people and people all over the world. A successfully transformed Asia will enter a new stage of leapfrog development and create a better future for the world.