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'Asia Miracle' Loses Luster: Report

TaiShang

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This below is explains why China's economic integration initiatives such as the AIIB and Belt and Road Project are so important not only for China but also for the rest of the region itself.

Integration and creating regional finance and development mechanisms are of greatest strategic significance.

Asia should not lose luster before it shines to its full extent.

***

'Asia Miracle' Loses Luster: Report

The Asia miracle of high growth and robust trade is fast disappearing, a report by the Boao Forum for Asia (BFA) said on Tuesday.

Economic indicators show an uncertain future for Asia as economic integration dawdles, said the Progress of Asian Economic Integration Report.

Asia's goods trade grew only at the global average in 2013 with exports increasing only slightly on 2012, while growth of services fell below the world average, the report said.

"The pace of Asia's integration in trade and production is also slowing significantly," the report said.

In financial sector, Asia still relies heavily on intermediaries from the United States and the European Union.

Despite being the world's major investment destination, Asia's performance in attracting investment was disappointing as its capital inflow shrank to 34.8 percent of the world's total in 2013, the report said.

"Asia has great potential and that potential must be tapped to support the sustained prosperity," said Zhou Wenzhong, secretary-general of the BFA, calling for strong political will and immediate action. on a more inclusive Asia-Pacific free trade area and accelerating China's "belt and road" plan.

Foreign direct investment (FDI) by Asian enterprises remained strong in 2013, growing by 7.9 percent, higher than the world average of 4.8 percent. China's FDI increased 15 percent.

The forum also published the Asia Competitiveness Report and the Development of Emerging Economies Report. China's overall competitiveness in Asia remained at ninth place in 2014. Singapore, Hong Kong of China and the Republic of Korea made up the top three places.

As a non-governmental and non-profit international organization founded in 2001, the BFA promotes regional economic integration to bring Asian countries closer to their development goals.

The annual conference of the forum this year is scheduled for March 26 to 29. Chinese president Xi Jinping and other Asian leaders will attend the opening ceremony.

(Xinhua News Agency March 17, 2015)
 
This below is explains why China's economic integration initiatives such as the AIIB and Belt and Road Project are so important not only for China but also for the rest of the region itself.

Integration and creating regional finance and development mechanisms are of greatest strategic significance.

Asia should not lose luster before it shines to its full extent.

***

'Asia Miracle' Loses Luster: Report

The Asia miracle of high growth and robust trade is fast disappearing, a report by the Boao Forum for Asia (BFA) said on Tuesday.

Economic indicators show an uncertain future for Asia as economic integration dawdles, said the Progress of Asian Economic Integration Report.

Asia's goods trade grew only at the global average in 2013 with exports increasing only slightly on 2012, while growth of services fell below the world average, the report said.

"The pace of Asia's integration in trade and production is also slowing significantly," the report said.

In financial sector, Asia still relies heavily on intermediaries from the United States and the European Union.

Despite being the world's major investment destination, Asia's performance in attracting investment was disappointing as its capital inflow shrank to 34.8 percent of the world's total in 2013, the report said.

"Asia has great potential and that potential must be tapped to support the sustained prosperity," said Zhou Wenzhong, secretary-general of the BFA, calling for strong political will and immediate action. on a more inclusive Asia-Pacific free trade area and accelerating China's "belt and road" plan.

Foreign direct investment (FDI) by Asian enterprises remained strong in 2013, growing by 7.9 percent, higher than the world average of 4.8 percent. China's FDI increased 15 percent.

The forum also published the Asia Competitiveness Report and the Development of Emerging Economies Report. China's overall competitiveness in Asia remained at ninth place in 2014. Singapore, Hong Kong of China and the Republic of Korea made up the top three places.

As a non-governmental and non-profit international organization founded in 2001, the BFA promotes regional economic integration to bring Asian countries closer to their development goals.

The annual conference of the forum this year is scheduled for March 26 to 29. Chinese president Xi Jinping and other Asian leaders will attend the opening ceremony.

(Xinhua News Agency March 17, 2015)
I'm looking forward to Boao!
 
I'm looking forward to Boao!

Last year's BOAO Forum, one of my professors was invited. He pretty much liked the event.

This year's gathering will likely be more rigorous.

President Xi to attend opening ceremony of 2015 Boao Forum
(Xinhua) Updated: 2015-01-20 20:16

BEIJING - Chinese President Xi Jinping will deliver a keynote address at the opening ceremony of the 2015 Boao Forum for Asia (BFA) in South China in March, BFA Secretary-General Zhou Wenzhong announced Tuesday.

The event is slated from March 26 to 29 in the scenic town of Boao on South China's tropical island province of Hainan, while the opening ceremony will take place on March 28, Zhou said at a press briefing.

The annual meeting, on the theme "Asia's New Future: Toward a Community of Common Destiny", will discuss macroeconomy, regional development, industry transformation, technological innovation, politics and security.

This year's meeting, for the first time in BFA history, puts agriculture, judiciary and religion on its wide-ranking agenda.

It also has sessions on new growth drivers amid the weak global economic recovery, China's campaign against corruption and HIV, SARS, Ebola, smog and their impact on human health.

A non-governmental and non-profit international organization founded in 2001, the BFA works to promote regional economic integration and bring Asian countries closer to their development goals.
 
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