The current global financial and economic crisis is the worst since the Great Depression, with wide ranging political and social implications. Beyond ongoing national responses, there is recognition that enhanced international co-operation is urgently required to address issues arising from the crisis. Given that the crisis has exposed serious shortcomings in the global architecture, there is much debate about a new Bretton Woods, or more broadly a new world order, though as yet with little clarity as to what this might constitute. Meanwhile, there is growing evidence of economic nationalism and with it, protectionism.
??This Journalists’ Seminar explored the broader implications for Asia and Europe as a result of the crisis, as well as opportunities for greater co-operation between the two regions in addressing its various impacts. It began with a public lecture titled “Regional Economic Cooperation – Ten Years Of Monetary UnionIn Europe – Evolution And Challenges For Co-operation in East Asia.” Following this, two presentation and discussion sessions were held, based on the themes “Implications Of The Global Crisis For Asia And Europe” and “Will The Crisis Move Us Towards Greater Multilateralism?”
The seminar brought together 23 editors and eminent senior journalists from leading media organisations in Asia and Europe. Distinguished policy makers addressed the participating journalists during this two-day meeting.After the seminar, participants were invited to stay on to cover the 9th ASEM Foreign Ministers’ Meeting.
Asia was earlier thought to be relatively immune to the crisis, mistakenly as it turns out. What implications does this have for the developmental model of Asia?
To what extent will this crisis be a catalyst towards regionalisation in Asia?
Europe is addressing the crisis both through its regional institutions, and at the national levels. What are the challenges to the EU, as a regional entity, arising from the crisis?
Going forward, how will the crisis affect the evolution of the Union?
What is the likely shape of a post-crisis world, and what would be the main driving forces?
What are the underlying strengths in Asia and Europe in countering the crisis?
How can the two regions co-operate and demonstrate leadership in order to expedite global recovery?