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A Presentation by H.E. Eddi Hariyadhi At 5 th Conference of The Asia Economic Forums

ASIAN COUNTRIES AMIDST THE GLOBAL ECONOMIC TURBULENCE: FACE THE CHALLENGES AND GET THE OPPORTUNITIES. A Presentation by H.E. Eddi Hariyadhi At 5 th Conference of The Asia Economic Forums Phnom Penh, April 6 th 2009. SEVERE CRISIS. Respond and Adapt. WORLD ECONOMY. ?.

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A Presentation by H.E. Eddi Hariyadhi At 5 th Conference of The Asia Economic Forums

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  1. ASIAN COUNTRIES AMIDST THE GLOBAL ECONOMIC TURBULENCE: FACE THE CHALLENGES AND GET THE OPPORTUNITIES A Presentation by H.E. Eddi Hariyadhi At 5th Conference of The Asia Economic Forums Phnom Penh, April 6th 2009

  2. SEVERE CRISIS Respond and Adapt WORLD ECONOMY ? Coordinated Action and Increased Partnership

  3. Western financial crisis Knock-on effects Asian Countries Vulnerable to problems stemming from the West Rapid Growth Wealth Creation Decoupled from the Western financial system

  4. CRISIS Change in the Financial Sector International Financial Architecture Challenges: Face the Challenges • Three failures: • Regulatory and supervisory • Risk management • Market discipline mechanism Strengthening multilateral and regional cooperation as well as international financial institution Better coordination and fewer overlaps between international organization Better follow up on international agreements

  5. OpenRegionalism Get the Opportunities Trade and economic cooperation Integration framework Completing the stalled Doha Negotiations Leadership from the major developed and developing countries

  6. Global Financial Crisis Measurements: Formulated fiscal stimulus programs Increased fund reserves Establish an effective safety net mechanism Financial cooperation

  7. Challenge and opportunity always come together No country can respond to the global financial crisis in isolation; All nations must unite in the face of this crisis; If the developed economies will cooperate among themselves, the rest of the world could follow suit and the crisis will be successfully addressed

  8. SOURM-OR-KUN THANK YOU TERIMA KASIH

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