At a time when protectionist sentiments are on the rise in Western meetings, Asia is lighting up the global stage with renewed optimism. Over 2,000 representatives from more than 60 countries and regions gathered in Hainan as the Boao Forum for Asia kicked off its annual conference.
In sharp contrast to the economic anxieties seen in Davos and Munich, the forum embraced a forward-looking tone. The Asian Economic Outlook and Integration Progress Annual Report underscored that Asia remains a key growth engine, forecasting an increase in the continent's share of global GDP at purchasing power parity from 48.1 percent in 2024 to 48.6 percent in 2025.
During his keynote address, Chinese Vice Premier Ding Xuexiang emphasized the importance of safeguarding the free trade system and upholding open regionalism, while firmly opposing trade and investment protectionism. His message resonated with young digital citizens, entrepreneurs, and global thought leaders who are shaping a more integrated and sustainable future.
Concrete actions accompanied the dialogue at the forum. The Regional Comprehensive Economic Partnership (RCEP), the world's largest free trade agreement by members' GDP, plays a crucial role in this strategy. With 15 Asian economies on board, the RCEP region not only experienced a year-on-year trade value increase of about 3 percent last year but is also projected by the International Monetary Fund to see its GDP grow by $10.9 trillion from 2023 to 2029, contributing over 40 percent of global economic expansion.
This dynamic outlook provides a refreshing counter-narrative to Western economic uncertainties. Asia’s proactive commitment to openness and cooperation is setting the stage for robust growth and innovation, inspiring a new generation of global citizens, business innovators, and cultural changemakers.
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Amid West's anxieties, Asia strikes a positive tone for growth
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