쏷he New Economic Crisis: Reforming Global Leadership & Asia's Challenge.

The 12th World Knowledge Forum(11th ~13th October 2011, Seoul, Korea)

As we face an unforeseen crisis in 2011, the World Knowledge Forum will focus on finding solutions to overcoming the crisis. The theme for World Knowledge Forum 2011 is "The New Economic Crisis: Reforming Global Leadership & Asia's Challenge."

At the beginning of this year, the global economy seemed to be leading a rosy path showing signs of growth. However, with the US default risk that spurred in July which then gave birth to the degrading of the US credit rating by S&P coupled together with the eurozone셲 financial crisis made the global economy nosedive to its fall. Liquidity providers US and Europe were unable to produce a fruitful outcome with their financial policies and the gloomy clouds of double dip were evident in the global economy. The inflation whirlwind that began from the US and Europe quickly advanced to Latin America and is spreading in all directions.

The 1998 Asia economic crisis was singled out to the Asian nations only. The 2008 global financial crisis began in the US and quickly spread to other regions but could be overcome by the determined emerging economies including Asia and Latin America. However, the most recent economic situation poses as a tougher problem without an easy way out. The World Knowledge Forum defines this unheard-of phenomenon as 쁔he New Economic Crisis.

But let us remember that with crisis comes opportunity. The World Knowledge Forum will bring forth 쁱eforming global leadership and 쁀sia셲 role as solutions for the 쁔he New Economic Crisis.

쁒eforming global leadership is the answer for recovering from the global leadership stalemate that surfaced with 쁔he New Economic Crisis which experienced the dichotomy of global leadership by the US and Europe. Who will take over the US hegemony is an issue to be tackled, with hopes that this new power will be the answer for our way out of 쁔he New Economic Crisis. Global leaders will discuss how Asia and the emerging countries will provide to be the answer to fulfill its role in the global agenda.

For the last two years, the World Knowledge Forum has suggested the 쁎ne Asia spirit as the direction for Asia셲 path in these times of global turmoil. The One Asia spirit is expected to lead the world out from the 쁔he New Economic Crisis. Japan셲 lost decade will serve as the poster child of the global economic crisis. China, which was the solution to the 2008 crisis, will boast its power once again in this time of vacuum in global leadership. Asia is faced with a new challenge in this time of 쁔he New Economic Crisis and the World Knowledge Forum will serve as the venue for discussion possible solutions.

The World Knowledge Forum 2011 will seek to find global solutions for this newly born crisis, and what kinds of challenges Asia must meet in order to improve its strength. This coming October will be an opportunity to gain knowledge and insights.