Greater role in region seen for China as US presence wanes

["Henry C.K. Liu" <hliu@xxxxxxxxxxxxxx>]

South China Morning Post (Hong Kong)
11/03/03

> Greater role in region seen for China as US presence
> wanes
>
> Tne topic not on the agenda at the Boao Forum, but
> certainly on the minds of delegates at the meeting
> was China's increased role in the region at a time
> when US influence is waning.
>
> "China's willingness to host the Boao Forum for Asia
> signals its sincerity to reach out to Asia," said
> former president of the Philippines Fidel Ramos, who
> is the chairman of the forum.
>
> Pakistan President Pervez Musharraf, who has been
> seen as a staunch ally of the United States in the
> region ever since the US-led invasion of Afghanistan
> in 2001, praised China as an inspiration to
> developing Asian economies.
>
> "All of us sitting here should thank China for
> rescuing Asia from the Asian financial crisis," he
> said, referring to China's decision in 1998 not to
> devalue the renminbi. The decision was widely
> credited at the time for keeping regional currencies
> stable.
>
> "The demonisation of Islam and widening of the gap
> between the Middle East and the west is leading to
> global economic regression," General Musharraf
> added.
>
> "The Boao Forum can play a catalytic role in
> building a new global consensus and a new global
> paradigm based on the concepts of equality,
> accountability and universality."
>
> Many delegates endorsed the speeding up of regional
> integration and the building of a common market.
>
> It was felt that a critical step in this process
> would be the building of an Asian bond market.
>
> The mood amongst many delegates was that the US was
> increasingly forcing its unilateral will upon the
> rest of the world. This was in contrast to the
> multilateral stance adopted by China.
>
> But Joseph Eichenberger, a vice-president of the
> Asian Development Bank seconded from the US Treasury
> Department, rejected this idea.
>
> "I don't buy that core assertion of US
> unilateralism," he said. "The ADB is a very
> important multilateral organisation focused on Asia.
> The US is a member. Japan is a member. China is a
> member. Everyone is participating actively in the
> discussion."