In my view, Asian countries have learnt the lessons from the past and significantly enhanced their capabilities to fend off risks.

In fighting the debt crisis, E.U. countries have enhanced co-operation and carried out reform with tremendous courage. This is laudable.

There are many countries in the world that when they reached the middle-income stage, they witnessed serious structural problems such as growth stagnation, a widening wealth gap and increasing social unrest.

Changes call for innovation, and innovation leads to progress.

We live in a global village. No country can live in isolation of others like Robinson Crusoe.

In pursuing reform, we have to navigate uncharted waters. We may also have to confront protracted problems because we will have to shake up vested interests.