Mrs Xiuhong Ma, China's assistant minister for foreign trade and economic co-operation, made clear that globalisation had been an essential part of her country's economic momentum and vitality over the past 20 years.
Direct foreign investment had played a crucial role, affecting some 350 000 enterprises, and involving a total commitment of US$ 632 billion of which $320 billion had been realised already.Twenty million Chinese were working for foreign investors who were playing a crucial role in China's economic development and reform.The quickening pace of globalisation was part of China's integration into the world economy, notably entry into the World Trade Organisation which, she
said, "is now within sight".To a questioner from the floor who asked why China was characterised as a "socialist market economy" she
replied that her
country was dominated by the state sector but economic reforms had been set in train by the government 20 years ago.By 2010 the framework would be fully in place, for reform was an "irresistible process".
Turkish businessman Bulent Eczacibasi, looked back over 50 years of his
country's economic history , to show how the private sector had played a key role in helping to bring Turkey out of its former closed, command system to a modern market economy system.This transformation could not have been accomplished, however, without political stability and a sound public sector.The Turkish private sector helped to achieve that stability by creating NGOs and lobby groups that themselves then underpinned the emerging civil society."A healthy market economy needs political stability," he
said, "and business should not just mind its own business."