Addressing the Eighth Asia-Pacific Economic Co-operation Leaders' Informal Meeting which convened Thursday, Jiang touched on a host of serious topics and reviewed the global, regional and domestic situation.

The new economy -- initiated and sustained mainly by new technology and high-tech industry -- is exploding and has resulted in an emerging "digital divide," threatening to cause imbalances in the world economy, according to Jiang.

The development, application and impact of science and technology today has far transcended predicted national boundaries, said Jiang, citing the recent breakthrough made in the human genome project.

"Only when applied most widely in a global context can the achievements of science and technology play their role to the maximum and benefit the human race in a better way," he said.

Jiang said he believes it is essential to strengthen collaboration among countries in the development, application and dissemination of science and technology under the principle of all participants benefiting from joint development.

It is essential for economic globalization to stress the importance of making scientific and technological knowledge popular, instead of confining it only to trade and investment freedom, he noted.

In the light of the new situation, international rules, such as those protecting intellectual property rights, should be tailored so that the benefits of scientific and technological advances can be shared by all countries, he said.

Human Resources Stressed

As human resources -- the first and foremost resources -- are the key to scientific and technological advance and economic and social progress, Jiang said APEC member economies should give priority to cooperating in human resources development.

Jiang gave his endorsement to Brunei's proposal of fashioning a strategy in developing human resources in the Asia-Pacific region.

To press ahead with the strategy, Jiang said China and Brunei will jointly hold the APEC High-Level Meeting on Human Capacity Building next year in China.

Turning to the World Trade Organization, Jiang said China's accession to the global trade club will be an important step to broaden its all-directional opening-up.

"We will honour our commitments in good faith after we join the WTO," he said.

He also said China will continue to be actively involved in regional economic co-operation, including that in APEC.

APEC: Bright Future for Economy

Jiang said both the global and Asia-Pacific regional economy can expect a new round of growth at the beginning of the new century, given that world economic development is picking up speed and Asia has once again become prominent in global economic growth after overcoming the effect of the financial crisis.

But Jiang warned that the unstable capital and foreign exchange markets and the recent international oil price hike have added to the adverse factors against economic growth.

"We in the Asian region have to be vigilant in peace time in developing the economy, continuing to utilize global and regional favourable factors, and pressing ahead with readjustment so as to optimize and upgrade the economic structure and create better conditions for sustained and stable economic growth," he said.

APEC Role Discussed

Talking about APEC's role in cooperation moves, Jiang said that thanks to more than a decade's efforts, APEC has already laid a fairly good foundation for itself with its principles and specifics of cooperation.

It should go on with its cooperative approach, which features respect for diversity and independence as well as consensus to head in the right direction for development, he said.

Globalization Reviewed

The president once again talked about economic globalization, which he elaborated on in Wednesday's APEC CEO summit.

He warned that there are a few countries that have tried to force their own values, economic regimes and social systems on other countries by taking advantage of economic globalization.

"If these remain unresolved, economic globalization cannot develop soundly, nor will it be in the interests of the common cause of peace and development for mankind," he said.

(China Daily 11/17/2000)