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Expert Warns Asia of Risk in Tech Development
2001-11-29

   Asian economies would risk losing control of their economic fortunes if they keep playing a role of manufacturer rather than innovator in the information technology development, Chairman of the Philippine Committee for Pacific Economic Cooperation Roberto R. Romulo warned here Wednesday.

  "The danger is that if Asian economies continue to serve as manufacturing platforms rather than innovators and consumer themselves, they run the risk of their economic fortunes being determined elsewhere as is the case now," said Romulo.

  He indicated that Asian economies are already dependent on information technology industries, providing the manufacturing platform for both hardware and software demands of the west.

  "However, they have ways to go to fully reap the benefits of these technologies," he said at the 14th General Meeting of the 25-member Pacific Economic Cooperation Council, which opened here Wednesday.

  He said that Asian economies need to foster a digital culture which will ensure their control on their own digital future.

  Such culture should be driven by a range of factors including access to high level skills and strong research infrastructure, development of new and lasting education institutions, effective entrepreneurship, the protection of intellectual property rights and healthy and active capital markets, he said.

  "Asia must now become more active rather than passive, creatinga new supply and demand relationship within the East Asian market itself and reducing dependence on other markets," Romulo said.


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