Though it is in the process of readjusting itself, the "neweconomy" is one of the most active forces in promoting andrevitalizing the economy in the Asia-Pacific region.
This view was shared by many business leaders and scholars from21APEC member economies attending the APEC Youth Festival- APEC YoungLeaders/Entrepreneurs Forum.
How to meet the challenges of the "new economy" is the main topicof the forum, which features symposiums, panel discussions andworkshops on such aspects as telecommunications technology in trade,e-commerce, trade opportunities in the Web age and the reform of theIT industry.
Tim Leissner with Goldman Sachs of Hong Kong believed thatalthough the Internet economy experienced tremendous losses inNasdaq, it will be revitalized next year.
Participants agreed that the new economy has become anirreversible global trend, and APEC member economies should maketheir due contribution to developing it.
The development of e-commerce in China was a hot topic amongforum participants. This year, another four million Internetusersappeared in China, and the Chinese government has adoptedvarious means to boost the new economy, such as constructing anationwide information network and developing the software industry.
Participants from economies less-developed economies in thisaspect held that they will take developing the new economy as animportant approach to building up their economic strength andcompetitiveness.
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