New growth models top agenda at World Economic Forum in Seoul

By Kim Deok-hyun
SEOUL, June 16 (Yonhap) -- The growing role of Asian countries in helping the
world overcome the global economic crisis will top the agenda this week when
government and corporate leaders from the region meet in Seoul to discuss new
growth models, organizers said Tuesday.

The World Economic Forum on East Asia is scheduled to open on Thursday for a
two-day run, and will be attended by nearly 400 decision-makers from 35 countries
in the region.
Participants include South Korean President Lee Myung-bak, Vietnamese Deputy
Prime Minister Hoang Trung Hai, Danish Environment Minister Troels Lund Poulsen
and Thai Trade Representative Kiat Sittheeamorn.
"Asia will play a pivotal role in reviving the global economy, but the world's
decision-makers will need to consider the new growth models which will define
Asia's future growth," Sushant Palakurthi Rao, Asia head of the World Economic
Forum, told reporters in Seoul.
Other major topics will include preventing protectionism, "green growth"
strategies and the future of Asian banking.
Asia accounts for six countries in the Group of 20 industrialized nations and
more than 35 percent of world gross domestic production, compared to 20 percent
each for the United States and the European Union.
But many economists say the global economic crisis has proved that Asia is not
decoupled with the major economies in the West.
Participants will mainly debate on whether the crisis marks the end of Asia's
export-led growth model, organizers said.
In addition, the forum will provide an opportunity to discuss the expanding
leadership role of Asia's G20 members, set against the focus of the new U.S.
administration on strengthening the trans-Pacific alliance, they said.
For South Korea in particular, the forum is expected to offer a chance to raise
its national profile as it prepares to assume the chairmanship of the G20 in
2010.
"Coming a few months ahead of South Korea's assuming the G20 chairmanship, the
meeting is a unique opportunity for leaders from the region to give input on the
priorities for the global economy going forward," Rao said.
(END)