Forum explores prospects of New Economy
( 2001-11-02 10:04 ) (1 )

The issue of how to acquire a correct and comprehensive understanding of the New Economy was spotlighted on Thursday by Vice-Premier Qian Qichen at a meeting of experts in Beijing.

He urged participants at the International Symposium on New Economy and Development to fully explore the "origin, development and prospects" of the New Economy and to discuss "solutions, policies and measures" oriented towards the new century.

The two-day workshop -- jointly held by the Ministry of Foreign Affairs and the United Nations Development Programme (UNDP) -- attracted hundreds of officials, diplomats, noted experts, scholars and entrepreneurs.

They raised their own understanding of the New Economy, but with a consensus that it is based on continued technological innovation.

With a worldwide economic depression becoming more likely, suspicion has been cast on the New Economy.

But that ignores the impact on generating prosperity it has had in many countries and regions over the past decade.

Now discussions are centred on how to achieve further growth of the New Economy so it may continue its role of an engine driving the economic development.

Experts attending yesterday's meeting also offered a wide range of suggestions to the Chinese Government on coping with the challenges of the New Economy.

These included creating a balance of efficiency and equality, stepping up urbanization, accelerating the development of high-tech industry and realizing the transfer of labour.

Zephirin Diabre, associate administrator of the UNDP, noted there is no "one-size-fits-all" blueprint to meet the challenges of the New Economy.

He said China and other developing countries need to change management processes and prepare their own mix of relevant policies to achieve success in the era of the New Economy.