07:00 - 08:00 hrs. MEMBER COMMITTEE BREAKFASTS
08:00 - 09:30 hrs. PLENARY SESSION
'Media Reporting on International Trade: How Can Business Leaders Promote the Good News?"
Although international trade has generated tremendous economic growth in countries throughout the region, media reporting on international trade is oftentimes negative, emphasizing disputes and tension, rather than the larger picture of cooperation and mutual gain. Since public perceptions about international trade are significantly shaped by media reporting, the 'average' citizens of many of our countries can view international trade as harmful or undesirable. Since public perceptions influence political and policy decision-making, the impact of negative reporting on efforts to liberalize trade throughout the region can be significant. Is there a helpful role business leaders can play in promoting greater balance in reporting, in order to support our goal of freer trade in the Asia-Pacific?
09:30 - 09:45 hrs. BREAK
09:45 - 11:15 hrs. MINISTERIAL FORUM
"Challenges and Instruments: Managing Exchange Rate Fluctuations in the 21st Century"
Dramatic fluctuations in currency values in a number of countries in Asia have created significant economic difficulties. Is it possible to avoid these destabilizing currency fluctuations in the future? Is the free market the best approach to exchange rates, or are pegged rates, crawling peg rates, fixed rates, or currency boards preferable? What are the advantages and disadvantages to each approach?
1 1:1 5 - 12:45 hrs. PLENARY SESSION
"What is the Role of the IMF in Resolving Regional Turbulence?"
The IMF has been at the forefront of efforts to address the financial difficulties gripping the region. Yet, ultimately, it is the countries themselves which are responsible for confronting the underlying problems and causes. What is the role of the IMF in helping resolve these problems? Are the reforms and policies required by the IMF necessary ingredients for recovery, or can they exacerbate economic problems?
13:00 - 14:30 hrs. LUNCHEON
'Latin America: Meeting the Challenges of the Global Economy"
The forces of globalization have caused many countries in Latin America to undergo dramatic economic evolution in recent decades. Argentina has often been at the cutting edge of this evolution, embracing both the challenges and the rewards of the global economy. Trade and investment liberalization, privatization, free market capitalism, and a currency board have all been important ingredients for Argentina. How can Latin America prosper in the global economy of the 21st century?
14:45 - 16:15 hrs. PLENARY SESSION
'Korea and ASEAN: Similar Challenges, Different Approaches"
The current financial difficulties in the region started in Southeast Asia and rapidly spread through contagion to other economies, including Korea. The challenges facing each economy have been in many respects similar. What has been the response of Korea and Southeast Asia to the shared challenges? In what ways have the responses been different? What have been the successes?
16:15 - 16:30 hrs. CLOSING REMARKS
16:30 - 17:15 hrs. CLOSING PLENARY SESSION
Reading of the Conference Statement Mr. Robert G. Lees, Secretary General, PBEC
Closing Remarks Mr. Gray L. Tooker, Chairman, PBEC
Announcement of Election of PBEC Officers Mr. Robert G. Lees, Secretary General, PBEC
Acceptance Remarks New Chairman, PBEC
Invitation to the 32nd IGM Chairman, 1999 IGM Host Committee
17:15 - 17:45 hrs. PRESS CONFERENCE
18:45 - 22:45 hrs. CLOSING GALA DINNER