Wednesday September 20, 2017

BOAO FORUM 2015 FOR ASIA IS ON

March 27, 2015

 

President Xi at BFA in 2013. Credit: People's Daily

Under the theme of “Asia’s New Future: Towards a Community of Common Destiny”, the 2015 Boao Forum of Asia (BFA) was held in a coastal town in China’s southernmost island province, with topics spanning issues from the China-proposed “One Belt and One Road” initiatives to Asia’s economic integration. The four-day event attracted a record number of 15 heads of government and state and business leaders, in addition to more than 1,000 media staff.

Modeled on the World Economic Forum (WEF) in Davos, Switzerland, the first BFA meeting took place in 2002 and has since turned into a key element of China’s global public diplomacy strategy,  promoting China’s soft power as one of the leading powers in the Asia Pacific region. Although the BFA has defined itself as an NGO, its topic selections have been quite political, ranging from Asia-U.S. relations to cyberspace in an attempt to frame new norms that favor China.

The China-proposed Asian Infrastructure Investment Bank (AIIB) will definitely be discussed in multiple sessions in this round of BFA. The current resistance of U.S. allies to join the AIIB and the Obama administration’s changing attitudes have preheated the oven for further discussion. According to Xinhua,  Zhou Xiaochuan, governor of the People’s Bank of China (China’s version of the Federal Reserve), Joachim Nagel, member of the Executive Board of the Deutsche Bundesbank, and Carlos Gutierrez, former Secretary of Commerce, will discuss monetary policy and the world economic outlook, which will most likely cover the AIIB. Meanwhile, China’s Finance Minister Lou Jiwei will lead a discussion on global economic governance to make G20 better play its role with heads of the International Monetary Funds, World Bank, European Central Bank, and the Organization for Economic Co-operation and Development.

Besides the record number of heads of governments and states, magnates from various fields will share their opinion under the spotlight, including Bill Gates; Elon Musk, the CEO of Tesla; and Ratan Tata, Chairman Emeritus of India’s largest business Tata Sons Ltd.; Li Yang, vice president of China Academy of Social Sciences; and Jeffery Sachs, director of the Earth Institute at Columbia University; Ming-Chu Fung, president of Taipei Palace Museum; and Thomas Friedman, author of The World Is Flat. The depth and length of the 2015 BFA will make a new record while indicating the expansion of China influence.

For more information on this topic, consult the following sources:

Xinhua Net“2015 Boao Forum for Asia”

Xinhua“China Headlines: Influnential forum opens to push Asian development, integration”

Post Western World “Why the Boao Forum Matters”

中国新闻网“2015年博鳌亚洲论坛进行时:共同的未来 共同的命运”

中国日报“博鳌亚洲论坛27日首发‘2015亚洲经济前瞻指数’”

新华网博鳌亚洲论坛2015年年会前瞻

新浪财经“博鳌亚洲论坛年会今起召开 一带一路方案或将出炉”

Compiled and edited by Stella Ran Zheng