In this respect, self-censorship has extended to Japan's Foreign Ministry or gaimusho and its related agencies like the Japan Press Center. Journalists from Taiwan are never invited as panelists.
Journalists from seven Asia-Pacific countries discussed the region's economic crisis and development models for the twenty-first century at the Asia-Pacific Journalists Meeting 1998, held on December 9 at the Japan Foundation Conference Hall in Tokyo.
The fourth annual conference sponsored by the Foreign Press Center attracted over 200 domestic and foreign media representatives, government officials, and researchers. The discussions by the seven panelists were moderated by NHK Executive Presenter/Commentator Yoshinori Imai.
The first morning session, which focused on economic and noneconomic factors behind the crisis in Asia, opened with a keynote presentation by Hirotsugu Koike, Foreign News Editor of the Nihon Keizai Shimbun.
The other panelists reported on the state of their respective domestic economies. Wang Xuewen, Deputy Editor-in-Chief of China's International Business Daily, noted that China is diversifying its trade and investment practices and consolidating its domestic financial institutions. Claiming that eight percent growth in 1998 is achievable. Wang saw no reason for the Renminbi to be devalued.
In a panel discussion that followed, Wang attributed great importance to the role of the Asia-Pacific Economic Cooperation forum (APEC), which respects regional diversity and focuses on economic growth.
Pana Janviroj from Thailand urged that the Association of Southeast Asian Nations be fortified to enable ASEAN nations to withstand the shock of globalization. Kwan Weng Kin from Singapore felt that APEC had become too large and proposed the formation of a smaller forum comprising the ASEAN countries "plus three"; China, Japan and South Korea.
Most panelists concurred that a single currency for Asia was premature, given the present gaps in the levels of economic development. There was also general agreement on the need to introduce some sort of control on the rapid movement of short-term capital on Asia's financial markets.
As for the roles the industrial nations should play in Asia's development, Wang and others felt it was only natural for Japan to engage itself fully in Asia's growth given its geographical advantages.
Peter Landers of Far Eastern Economic Review from Hong Kong cautioned, that other Asian nations should not copy Japan's habit of putting off decisions on difficult issues.
