S'pore: More Asia power
Asian world order: Singapore's Senior Minister Goh Chok Tong at the Asian Leadership Conference in Seoul yesterday called for a change in the status quo. Picture: AFP
Friday, February 22, 2008
SINGAPORE'S Senior Minister Goh Chok Tong called Thursday for a reordering of global power structures and institutions, urging the West to give rising Asian powers a bigger stake in the international order.
He said international practices and institutions no longer reflected the real distribution of world power and could not meet global challenges and the aspirations of rising nations.
"As Asia grows, a reordering of global power structures and institutions is inevitable. The status quo must change," he said in a keynote speech to a Seoul conference on Asian leadership.
"Whether the West likes it or not, Asia will seek economic, political and even cultural influence commensurate with its growing economies," said Goh, who was prime minister of the city-state from 1990-2004.
He noted that Asia's contribution to global GDP had doubled since 1980 to 36 per cent. This figure will rise to 45 per cent by 2020, he said, citing an estimate from the Asian Development Bank.
Over the past 20 years, Asia's economy excluding Japan had expanded at an average rate of 7.5 per cent per year, double the world average, and should be able to sustain annual growth of between four and six per cent over the next 20 years.
"The current Permanent Members of the UN Security Council need to accept the fact that the inclusion of the rising powers... would help enhance international stability and the relevance of the UN," Goh said.
"Similarly, why, to take another example, should international financial institutions like the IMF and World Bank only be run by European and American appointees?"
The West should not respond to the resurgence of Asia with defensiveness or fear, he said, adding "changing the status quo need not be a zero sum game between Asia and Europe".
"I see a new world order as consisting of truly equal and closely connected centres of power, with Asia playing an equal role alongside the US and Europe in shaping global institutions and norms and sharing responsibility in managing global challenges."
Referring to regional geopolitical risks, Goh said the situation in Pakistan had worsened since the assassination of former Prime Minister Benazir Bhutto. "Should the country slide into civil conflict, Islamic militancy would be unleashed in full force in Pakistan."AFP
He said international practices and institutions no longer reflected the real distribution of world power and could not meet global challenges and the aspirations of rising nations.
"As Asia grows, a reordering of global power structures and institutions is inevitable. The status quo must change," he said in a keynote speech to a Seoul conference on Asian leadership.
"Whether the West likes it or not, Asia will seek economic, political and even cultural influence commensurate with its growing economies," said Goh, who was prime minister of the city-state from 1990-2004.
He noted that Asia's contribution to global GDP had doubled since 1980 to 36 per cent. This figure will rise to 45 per cent by 2020, he said, citing an estimate from the Asian Development Bank.
Over the past 20 years, Asia's economy excluding Japan had expanded at an average rate of 7.5 per cent per year, double the world average, and should be able to sustain annual growth of between four and six per cent over the next 20 years.
"The current Permanent Members of the UN Security Council need to accept the fact that the inclusion of the rising powers... would help enhance international stability and the relevance of the UN," Goh said.
"Similarly, why, to take another example, should international financial institutions like the IMF and World Bank only be run by European and American appointees?"
The West should not respond to the resurgence of Asia with defensiveness or fear, he said, adding "changing the status quo need not be a zero sum game between Asia and Europe".
"I see a new world order as consisting of truly equal and closely connected centres of power, with Asia playing an equal role alongside the US and Europe in shaping global institutions and norms and sharing responsibility in managing global challenges."
Referring to regional geopolitical risks, Goh said the situation in Pakistan had worsened since the assassination of former Prime Minister Benazir Bhutto. "Should the country slide into civil conflict, Islamic militancy would be unleashed in full force in Pakistan."AFP
Business Besides Oil
