Although Asian leaders lost a chance to discuss a prescription for the financial crisis at the ruined ASEAN summit in Thailand, the Boao Forum for Asia (BFA) is expected to offer a platform for them to seek the "Asian value" in tackling the worst global economic turmoil in seven decades.
At the G20 London summit two weeks ago, voices of the emerging economies were heard by the developed countries on an unprecedented scale. However, that was far from enough.
As another international convention focusing on financial crisis after the G20 summit, the BFA's Annual Conference 2009 held from Friday to Sunday in Boao, a scenic town in south China's Hainan Province, will be a good place for emerging Asian economies to better voice their views, said BFA Secretary-General Long Yongtu.
With the theme of "Asia: Managing Beyond Crisis", the three-day session is expected to showcase the role of emerging countries in reshaping the global financial system, because their presence can not be ignored and their role in the world economy becomes increasingly important, said Long.
The U.S. financial system used to be a model for Asian countries after weak financial regulation and collaboration threw them into a regional financial crisis in 1997.
Ten years on, however, the United States itself became the birthplace of a major crisis, which underpinned the importance of reflecting on past decisions and explore its own way to deal with the turmoil by Asian countries rather than simply coping others, analysts say.
