Lima - The leaders of several emerging economies on Friday
issued a message of cautious hope amid the gloom of the widening
global economic crisis, by stating that new opportunities are arising
even though the financial world is struggling.
In comments to the CEO summit that preceded this weekend's annual
Asia-Pacific Economic Cooperation (APEC) forum, Peruvian President
Alan Garcia was particularly graphic: 'I claim that the world is not
sick but is rather suffering from growing pains.'
Chinese President Hu Jintao noted that China's great potential for
economic development should be a major contribution to the world's
economic recovery, while Indonesian President Susilo Bambang
Yudhoyono also saw a silver lining to a very grey cloud.
'We face hard times ahead, but we still have a choice: Hope or
despair, opportunity or failure,' Yudhoyono said.
In their comments, the leaders of Peru, China and Indonesia also
called on the business community to put in perspective their
decisions taken in this crisis period.
'We have lived the first year-long chapters of a revolution that
should last longer,' Garcia said as he described 'the emergence of an
extraordinary market in the world.'
Hu noted that 'the situation is very grim,' but said he saw
further room to seek balanced and sustainable development through a
coordinated approach that combines 'investment, consumption and
exports.'
He underlined that it is 'imperative' that multilateral
corporations that have profited from an economic boom should act
responsibly in the current slump, and should not forget their role in
providing economic security and safe-guarding people's livelihoods.
'Enterprises should be keenly aware of their corporate
responsibility,' Hu stressed.
Yudhoyono noted that the crisis 'may actually present
opportunities,' and he provided CEOs with a good reason to exploit
them responsibly. 'A poor community is an angry community,' he said.
The Indonesian leader called upon business leaders to 'seize
opportunities.'
He noted that people around the world can continue to support
globalization in the current crisis, but will only do so if they
'derive direct and real benefits' from it for their everyday lives.
Yudhoyono said the world should concentrate on saving 'what can be
saved' of the current system and focus on the future, by continuing
to promote education and the work of small and medium-sized
enterprises (SMEs) even as funds get scarce.
On the day that United States President George W Bush arrived in
Lima for his last international gathering as the leader of the
world's most powerful country, his Peruvian host sent a message to
those who supported protectionism and were making conditions rough
for investment.
Garcia stressed that Peru, which grew by more than 10 per cent in
the first nine months of 2008, would like 'to be a haven for the
capital that escapes other countries in fear.'
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