Asia’s moment has come: Yudhoyono
Indonesian President Susilo Bambang Yudhoyono called on governments and business leaders in Asia to come together and seize a moment they had been waiting for.
The President told more than 600 participants at the World Economic Forum (WEF) on East Asia on Sunday of the growing confidence of Indonesians in the nation’s resilience amid a global economic slowdown.
“I notice that this newfound confidence is not particular to Indonesia. You can see it throughout Asia. In my heart I do believe that Asia’s moment has come, and that a much brighter future lies ahead. But we cannot take this for granted,” Yudhoyono said in his opening remarks.
The forum kicked off on Sunday under the theme “Responding to New Globalization”. The two-day event focuses on four topics: Asia’s leadership agenda, global risks, sustainability and green growth and regional competitiveness in a global economy.
Those attending the forum include Singaporean Prime Minister Lee Hsien Loong, Thai Prime Minister Abhisit Vejjajiva and Mongolian Prime Minister Sükhbaataryn Batbold.
CEOs of a number of multinational companies, including Toshiba, Procter & Gamble, Unilever, General Electric, Coca Cola and Nestlé, are among the top business figures attending the event.
Yudhoyono suggested several ways to make Asia “the continent of the future”. The first was to be a part of the solution to address global imbalances by keeping markets and societies open.
“We all need to make structural adjustments to correct global imbalances. Asia — more than any other region — can help achieve a strong, sustainable and balanced world economy,” he said.
Asia must also anticipate and address growing pressures from food, energy and water insecurity, as 60 percent of the world’s population lived in Asia, representing a large proportion of demand for resources, he said.
Yudhoyono highlighted the continent as the center of global innovation, the importance of tapping into the best emerging resources, which was the youth, and the need to preserve and build on what was best about Asia: its rich diversity.
“If we can do all this, then we shall be able to claim our time as the Asian Century and we can be sure the Asian Century means a century of progress and peace, and one of cooperation and collaboration,” he concluded.
Lee also addressed the importance of bringing “ourselves together and [finding] common ground” to be more integrated with fast-growing countries such as China and India as well as with other parts of the world.
“By 2020 or 2030, China would be much more developed. India would also make very considerable progress. We have to be much more integrated among ourselves,” he said.
Lee said China and the US would heavily influence the economy of Asia. He highlighted how the prosperity of China would bring positive impacts to other countries in the continent.
“We see great potentials from China’s current improving prosperity. The potentials cover many sectors like trade, tourism and of course investments,” he said at a discussion after Yudhoyono’s opening remarks.
For the US, Lee argued that if the country could fix its internal problems and boost economic recovery following the 2008 global financial downturn, this could also fuel growth in Asia.
“But one thing that’s important is that China remains on good terms with the US. It’s easier for us to be friends with both of them,” he said.
Yudhoyono and Lee booth expressed their hopes that the leaders of companies represented at the forum would collaborate with governments in Asia to boost economic growth by creating more jobs.
