World Economic Forum on East Asia rethinks Asia's leadership agenda

The Europe-based World Economic Forum (WEF), known for being innovative and forward- looking, chose an interesting and thought-provoking theme for this year's WEF on East Asia -- Rethink Asia's Leadership Agenda.

During the two-day discussion, a note was persuasive among participants from more than 50 economies. A shift in the balance of world economic power is taking place in the aftermath of the economic crisis, underscoring Asia's need and ability to take a greater outward approach in global cooperation.

Surin Pitsuwan, Secretary-General of the Association of Southeast Asian Nations, said the past two years marked a period of change for Asia's role.

Asia, by keeping its imports open, helped pull the world out of the crisis. Meanwhile, Asia has maintained sustained growth, becoming a driving force for world economic revival, said Surin.

Andrei Kostin, a co-chair of this forum, and chairman and CEO of VTB Bank in Russia, observed the shift in world economic power from the perspective of capital flow.


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