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It is an accepted fact that the emerging Asian economies are reeling from the swirling global financial storm, although their woes remain relatively shallow. From a long-term perspective, the stagnation in the Western world raises questions about Asia’s future. So what are the biggest challenges facing Asia in response to the crisis? How can the region seek a return to fast-track growth? Fidel Valdez Ramos, Chairman of Board of Directors of the Boao Forum for Asia and former President of Philippines, discussed these issues during the forum’s annual conference on April 17-19 in Hainan Province. Edited excerpts follow
It is an accepted fact that the emerging Asian economies are reeling from the swirling global financial storm, although their woes remain relatively shallow. From a long-term perspective, the stagnation in the Western world raises questions about Asia’s future. Favored facing Asia in response to the crisis? How can the region seek a return to fast-track growth? Fidel Valdez Ramos, Chairman of Board of Directors of the Boao Forum for Asia and former President of Philippines, discussed these issues during the forum’s annual conference on April 17-19 in Hainan Province. Edited excerpts follow