Senior Researcher Yusov Vani, a senior researcher at the Indonesian Strategy and International Research Center: Regionalism open in Asia has shown a new look of Asia to continue to strengthen economic cooperation

21st Century Business Herald reporter Hu Huiyin reported

The Asian financial crisis has passed 25 years. During this period, Asian countries also showed a completely different look in development.

"The financial crisis in 1997 created a motivation for deepening Asian cooperation on the one hand; on the other hand, it also proposed a relatively large cooperation idea, such as the financial structure of the Asian regional regional, and some have not yet been completed." Indonesia's strategy and international issues Yusufwani, a senior researcher and co -founder of the Research Center, talked about the changes in the Asian financial crisis to Asian countries at the 25th anniversary of the 25th anniversary of the Asian financial crisis on August 19.

Despite the impact of the Asian financial crisis, after that, the economic performance of many Asian countries has achieved considerable growth. At the meeting, Yusov Vani listed relevant data. During 1997 to 2021, Indonesia's per capita output increased by 5.7%, the Philippines increased by 4.1%, and Thailand increased by 4.4%. And these countries were actually the country with the worst strike by the financial crisis at the time.

In this regard, Yusov Vani believes that the good growth performance of countries in Asia is attributed to the stimulating means of economy, and the governments of various countries have deepened their trade ties after the crisis. "The share of ASEAN's exports of goods and services in the world reached 6%in 2021. At the same time, the share of China's exports of goods and services in the world has almost 5 times, from 2.7%in 1997 to 12.7%in 2021. It can be said that it is the biggest winner in trade globalization in the past 5 years. "

On the other hand, he explained the financial situation in Asia. "The total foreign exchange reserves of ASEAN rose from US $ 148.7 billion in 1997 to $ 501 billion in 2008. By 2021, the number was $ 1.2 trillion. The total foreign exchange reserves rose from 394 billion US dollars in 1997 to US $ 3.2 trillion in 2008, and US $ 5.3 trillion in 2021. "

Yusuv Vanadi pointed out that after the Asian financial crisis, Asian countries turned to Keynesianism, advocating government expenditure through debt financing to stimulate family consumption. He believes that Asian countries have the ability to make economic growth continue and repair the losses caused by the economic crisis, but at the same time, the economy of Asian countries will face arduous tasks, which are mainly reflected in two aspects: First, the per capita income in Asia is far behind. In Europe and the United States; the second is that Asia still has great deficiencies in solving the relatively balanced wealth.

The current epidemic is still continuing, making the world economy face greater uncertainty. In this regard, Yusov Vani believes that it is necessary to improve the ability to fight disaster resistance and crisis in Asia.

In addition, Yusuv Wanandi emphasized that the Asian region must work together to strengthen economic cooperation and lay the foundation for the revitalization of regional cooperation. He believes that in addition to promoting existing agreements, cooperation can also be promoted in a new field, such as creating a scientific and technological cooperation platform. "Asian countries can include semiconductors, gene editing, and renewable energy in the fields of scientific and technological cooperation. This platform will extend to the system and project level, such as the next generation of food security systems, East Asian disaster management funds, coordinating intellectual property protection systems, and and coordinating the protection system of intellectual property rights, as well as the system of intellectual property rights, and as well as the protection system of intellectual property rights. Pan Asia's educational projects, "said.

Yusuv Vanidi has recognized the development results of Asian countries in the past 25 years. He further stated, "After the Asian financial crisis in 1997, we see that the regionalism of Asia's openness has shown a new look."

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