Boao Forum plays important role in solving global challenges
The Boao Forum, one of the Asia’s most prestigious platforms, has played a vital role in finding solutions to challenges that the region and the world are facing, according to Sok Siphana, an advisor to the Cambodian government.
Speaking ahead of the April 8-11 annual Boao Forum in South China’s Hainan Province, Siphana said 2018 has started with mixed global and regional developments like the prospects of a trade war, geopolitical rivalries, protectionism and anti-globalization tendencies on the one hand, while on the other, the planet has disruptive technologies shaping global growth prospects.
“As usual, the Boao Forum is quite bold in tackling sensitive issues of regional and global importance, from Fintech, Blockchain, Artificial Intelligence and Big Data, to broad topics of connectivity like infrastructure, the Belt and Road, trade and monetary policies of major powers,” he said.
The forum likely left an impact on world economic growth and global governance issues, he said. The forum must respond to profound changes in the global economic landscape like International Monetary Fund reform, the Asian Infrastructure Investment Bank, G7 and G20.
Siphana said he would be speaking at a CEO Roundtable on the Belt & Road: Case Studies & Success Stories.
“We hope to hear from various governments and corporations on how they have been able to conduct successful projects and how we can learn from them, in terms of project design and implementation,” he said. “I intend to highlight a Cambodian Belt and Road project related to the development of the cassava industry.”
Siphana said the expectation from the upcoming Boao Forum was the accumulation of a wealth of knowledge and insights from high-level speakers and participants and their application to improve the policies and development of Cambodia. “So many dynamics are shaping our world and their evolution is so rapid. Unless we can stay abreast of these developments, I am afraid we will be on the losing end of this global geopolitical and economic game,” he said.
Asked whether he had any suggestions on cooperation between China and Cambodia under the Belt and Road initiative, Siphana said so far cooperation was progressing at a rapid pace.
“I am keen to see both China and Cambodia proactively make an early assessment of the various projects and initiatives which the governments have endorsed,” he said. “We need to look quite critically on the private sector dynamics as well, which have taken on a life of their own, even without the governments knowing.”
The expert expressed his belief that any fast growth would entail both positive and negative impacts on the economy of the country, as well as on the society and the local communities, and for sure on the environment.
He said lessons needed to be learned, and they needed to be learned fast so that they could take early corrective measures.
As 2018 marks the 40th anniversary of the China’s reform and opening-up, Siphana said opening-up had not only benefited China but all countries.
“I see China’s reform and opening-up as a good sign. Good for China, good for the region and indeed for the world,” he said. “I believe this is a moment where China can show its true global leadership.”
“We can’t afford to see so many decades of global economic liberalization going down the drain. Perhaps China is the answer,” he added. The authors are writers with the Xinhua News Agency. opinion@ globaltimes.com.cn