Issue 5

EFN Asias upcoming event Hosting a session in a prestigious Jeju Forum for Peace and Prosperity 2013 New EFN Asia Member Institutes 14th EFN Asia Conference 2012 in Hong Kong How Welfare Populism Destroys Prosperity: The Populist Challenge to Economic Freedom EFN Asias upcoming event Hosting a session in the prestigious Jeju Forum for Peace and Prosperity 2013

April 2013

ABOUT EFN ASIA

"To many people, Asia may seem relatively free. Yet it would be mistaken in imagining that Asia has a permanent lease on freedom. With the long history of political conflicts, social unrests and divergent economic development, this region indeed has a high, disquieting potential of becoming unfree. The work of the Network is essential!" Dr. Wolf-Dieter Zumpfort, Deputy Chairman of the Board of Directors, Friedrich Naumann Foundation for Freedom (FNF) Economic Freedom Network Asia (EFN Asia) With a clear vision of a liberal world and a free Asia, the formation of EFN Asia was initiated by the Friedrich Naumann Foundation for Freedom in 1998. It is one of the Foundation's key principle mechanisms to help individuals fulfil their potential and create an open society. EFN Asia, the Economic Freedom Network Asia, is a network of research institutes, practitioners, influential think-tanks, and individuals with an object of promoting the benefits of the market economy, civil society and individual liberty, which enhance human development and economic growth in Asia.

Message from EFN Asia coordinator

The 15th EFN Asia conference will be held in Bangkok, Thailand in late October 2013. The exact title will be made available as soon as possible, but it will largely involve the issues of middle income trap and free trade bloc. Surprisingly, this will be the first EFN Asia conference in Bangkok. I am excited to meet everyone again in my home country.

clude Mahathir Mohamad, Former Prime Minister of Malaysia; Hatoyama Yukio, Former Prime Minister of Japan; Jim Rogers, Investment Expert; Hakubun Shimomura, Minister of Education, Culture, Sports, Science and Technology of Japan; and Freda Miriklis, International President of BPW International. It is our belief that our delegates will utilize their presence at the forum to broaden our network and showcase our Before that, in upcoming May, EFN Asia and the achievements. Korea office of the Friedrich Naumann Foundation for Freedom (FNF) will co-organise one concurrent In this issue of our magazine, we also wrap up the session in the prestigious Jeju Forum for Peace and EFN Asia conference held last year in Hong Kong, Prosperity 2013 in Jeju Island, Republic of Korea. hoping that the magazine will serve as an instituOur session will address the topic of economic na- tional memory of our work together. Last but not tionalism and show how it affects economic prosper- least, we introduce three new member institutes of ity in general. Unfortunately, we are unable to invite the EFN Asia, namely Korea Economic Research Ina large number of people from our network to the stitute (KERI), Transition Institute (TI) from China, and event, as our budget needs to be set aside for the Siam Intelligence Unit (SIU) from Thailand. We are annual EFN Asia conference later in the year. also open for new members, so please feel free to suggest us to any organisation interested and comThe confirmed speakers of the Jeju forum 2013 in- mitted to the work of economic freedom. Best regards, Pett Jarupaiboon

Cover Photo

by Olaf Kellerhoff www.olaf.kellerhoff@freenet.de

Contact

Cover & Magazine Layout

by

Chalermpol Pattayakul

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Friedrich Naumann Foundation for Freedom Southeast and East Asia Regional Office 25th Floor, BBC Tower 29 Soi 63 Sukhumvit Road, Bangkok 10110 Thailand

Email: pett@fnst.org contact@fnst.org Telephone: +66 (0)2 365 0570 Fax: +66 (0)2 714 8384

Partners

Contents
About Us Message From EFN Asia Co-ordinator Members & Partners New EFN Asia Member Institutes 14th EFN Asia Conference 2012 in Hong Kong How Welfare Populism Destroys Prosperity: The Populist Challenge to Economic Freedom News in Hong Kong and China about EFN Asia conference 2012 Nonoy Oplas Article On the Conference Photos From the Conference Statement on Liberal Views on Populism from the EFN Asia conference 2012 EFN Asias upcoming event Hosting a session in the prestigious Jeju Forum for Peace and Prosperity 2013 Nonoy Oplas Article On the Jeju Forum for Peace and Prosperity 2013 Do you know who said this? i i 1 1 3 4 6 8 10 13 14 14 15 17

Member institutes

New EFN Asia member Institutes

Unirule Institute of Economics Transition Institute (TI) Lion Rock Institute (LRI) Centre for Civil Society (CCS) Liberty Institute Prabodh - a youth aweakening Freedom Institute Indonesian Institute, Center for Public Policy Research Korea Economic Research Institute (KERI) Centre for Public Policy Studies (CPPS) Institute for Democracy and Economic Affairs (IDEAS) Malaysian Institute of Economic Research (MIER) EBI Think Tank Institute Samriddhi, The Prosperity Foundation Federation of Pakistan Chambers of Commerce & Industry (FPCCI) Alternate Solutions Institute (ASI) Foundation for Economic Freedom (FEF) Foundation for Enhancement of Revenues (FReE) Center for Research and Communication (CRC) Minimal Government Thinkers Institute of Future Studies for Development (IFD) Siam Intelligence Unit (SIU)

In

the past two years, EFN Asia has three new member institutes to join our mission for economic freedom. Let us take this opportunity to know them better.

The Transition Institute (TI), China, sets its mission to spread the idea of free market and the concept of rule of law when it is established in 2007 to achieve the higher goals of liberty and human rights improvement in China. As an independent think tank in China, they hope that by becoming a member of EFN Asia, they will have more chance to associate with scholars, officials and NGOs to discuss the present practice of the idea of free market in various countries, to share experiences with each other, and to seek possible opportunities for working together in some areas. Transition Institute has done various fruitful works in public education and academic research to achieve goal, and they have earned good reputations with excellent works and have been an influential thinktank in China. TI is willing to act together with EFN Asia to promote the benefits of civil society, market economy and individual liberty, and they would take their responsibilities as a member of the Network to fulfil the task of the Network.

Individual members
Prof. Xingyuan Feng Prof Mao Shoulong Mr. ZhongQiu Yao Dr. Liu Junning Dr. Jianxun Wang Prof Bibek Debroy Dr. P.D. Kaushik Dr. Muhammad Chatib Basri Dr. Arianto Patunru Mr. Farhan Bokhari Prof Sirimal Abeyratne Dr. Kriengsak Chareonwongsak Mr. Cong Minh Nguyen

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The Korea Economic Research Institute (KERI)s mission is to contribute to growth and development of the national economy through the building of an efficient free-market economy and the nurturing of healthy corporate growth. The founding principles and basic philosophy of KERI are Free Market, Free Enterprise, and Free Competition. By becoming a member of EFN Asia, their organization seeks to strengthen cooperative research both between institutions and between individual researchers, and is looking to deepen its research network with international society. KERI has been a leading private think-tank in South Korea by proactively offering policy recommendations based on theoretical, empirical, and field-oriented studies and analyses. KERIs expertize in nurturing healthy corporate growth and building of a free market system will strengthen the network in its endeavour to promote the benefits of civil society, market economy and individual liberty.

Siam Intelligence Unit (SIU), established in 2009, is a private think tank specializing on politics, economics, public policy and international relations. SIU staffs are new generation analysts who want to improve the effectiveness of Thailands public policy by introducing latest global knowledge and combining with the practically, realistic action plan. SIU believes in the principle of liberalism, they aim to promote an understanding of good governance, free economy, sound economic development policy and the rule of law. As a think tank, SIU connect the academic world and public policy making communities. They transmute complicated policy research into layman's language for policymakers and the public in general. They actively communicate our ideas in order to gain an impact on the public policymaking process through various channels (conferences, seminars, and discussion with key policymakers) and publications (books, research monographs, reports, and policy briefs). Moreover, they present ideas via traditional media as well as new media such as websites and social media. EFN Asia is a good example of a practical platform of regional think tanks network. They aim to have a close cooperaPage | 2 tion both on the regional and local research initiatives. With this approach, it can help transcend a different interpretation due to barriers of language and cultures, in order to learn a practical knowledge from each other and to improve a best practice public policy together. SIU expects to collaborate on research, setting up forums and sharing knowledge with other members of EFN Asia. SIU has extensive networks on both local and international, range from political network, public officers, academic network, and civil society, as well as young generation networks. SIU has regular public forums on both local and international issues, and outreaches to both traditional and new media. We have successfully promoted agenda on ASEAN connectivity, Asia Pacific Security and Political reconciliations for example. Member of EFN Asia can cooperate with SIU using various tools and platforms in order to share knowledge and to promote the idea on public policy together.

14th EFN Asia Conference 2012 in Hong Kong

How Welfare Populism Destroys Prosperity: The Populist Challenge to Economic Freedom

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14th EFN Asia Conference 2012 in Hong Kong

How Welfare Populism Destroys Prosperity: The Populist Challenge to Economic Freedom

In

times of great financial and economic crises populism and populist demands from politicians are omnipresent. But is populism a phenomenon, which a stable democracy can cope with easily or is it a serious danger for prosperity, political and economic freedom? This question and possibilities how populism can be confronted effectively were discussed by more than 130 participants at the Economic Freedom Network Asia Conference 2012 which took place between November 6th and 8th in Hong Kong.

The conference dealt with the question How Welfare Populism destroys Prosperity: The Populist Challenge to Economic Freedom. It was organised by the regional office of the Friedrich Naumann Foundation (FNF) for Southeast and East Asia together with the Lion Rock Institute of Hong Kong. Partner and member in the Economic Freedom Network (EFN) Asia, a network that includes organiPopulism is widespread in all ideologies. It sations, think tanks and individuals, who can appear as left- or right-wing populism, advocate liberal values and economic freedom in Asia. in developed or undeveloped countries.

Former Prime Minister of Thailand Leader of Democr at Party Thailand

Abhisit Vejjajiva

H.E. Abhisit Vejjajiva, the former Prime Minister of Thailand and current leader of the Democrat Party Thailand, opened the conference with an initiating address. In his speech Abhisit pointed out the danger of populism in politics: Populism is widespread in all ideologies. It can appear as left- or right-wing populism, in developed or undeveloped countries. We see here and there an increase and thats because we have political leaders, who act opportunistically and take advantage of a rising dissatisfaction of the general public caused by economic poverty and recession. With his political knowledge Abhisit Vejjajiva was able to give the participants a good insight based on the example of Thailand - to the threat caused by populism.

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Populism undermines the competitiveness of a nation and erodes the foundations of a society
Dr. Rainer Adam FNF Regional Director for Southeast and East Asia

Welcoming the delegates to the conference, Dr. Rainer Adam, FNF Regional Director for Southeast and East Asia, underscored the significance of this years EFN Asia conference topic. He pointed to the problem of economically unsustainable policies in Europe and Asia which solely benefit the vested interest of a few political actors but ultimately lead to immense economic damage: Populism undermines the competitiveness of a nation and erodes the foundations of a society. Therefore, it is indispensable to face populist challenges in politics and economy, and to come up with solutions. In his welcoming speech, Dr. Wolf-Dieter Zumpfort, Deputy Chairman of the Board of Directors, FNF, alluded to the mistakes the German welfare state had committed and criticised that at present there was no chance in winning an election without having any welfare promises in the party platform. The German welfare state already ads up to a third of the German gross domestic product and this has disastrous consequences. A nations welfare evolves from economic success, not from populist reallocation promises. Like last year, Fred McMahon, Director of the Center for Trade and Globalism at the Canadian Fraser Institute, presented the Economic Freedom of the World (EFW) Index 2012 at the EFN Asia Conference. Suitable to the venue, a special Hong Kong edition of the EFW was prepared. Hong Kong was placed first in the EFW ranking of 144 surveyed countries. Germany took position 31 in the ranking.

The Hon. John Tsang, Financial Secretary of Hong Kong, warned about welfare populism, referring to the Argentina example, which had been the sixth biggest national economy one hundred years ago, but subsequently lost this position. The economic decline of the country was mostly caused by welfare populism. John Tsang also mentioned the example Greece, in which welfare populism embosses the political events since several decades. To record the findings of the conference, the participants composed a statement, in which they critically reject populism and its negative effects. Populism is counterproductive for the public well-being and the progress, which is seen by the economic declines of many countries, in which populist plans were implemented. But the participants were also optimistic: We are confident that people will reject populist politics, as soon as they know about the real expenses.

A nations welfare evolves from economic success, not from populist reallocation promises
Dr. Wolf-Dieter Zumpfort Deputy Chairman of the Board of Directors the Friedrich Naumann Foundation

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in Hong Kong and China about EFN Asia conference 2012

EFN Asia conference 2012 successfully ended.
But our commitment does not end. Several news outlets in Hong Kong and China reported about the conference in both English and Chinese. The examples are below.

South China Morning Post mentioned about the is an open city. It is the gateway to China. If Hong interview with Dr Tom Palmer and the speech of Kong is going to close up, people will go straight to China." Hong Kong Financial Secretary John Tsang. 'Tom Palmer, a senior fellow at the Cato Institute He suggested the government look at easing land think tank in Washington, said new stamp duty use restrictions and open up areas for developtargeting property investors would "make Hong ment. Kong less attractive to foreign investors". "You have to have the right medicine for your disPalmer said that the most important thing was ease and [new taxes] are not the right medicine," "not to put some kind of cap on prices". Speaking Palmer said. after a forum on welfare populism, Palmer said the government should increase supply and allow In the same forum, Financial Secretary John Tsang Chun-wah reiterated that government intervention the market to adjust to the market conditions. would help restore the balance. "Once the balance "What you will see is that a lot of people will move has been restored, we will return to the status to Shanghai and other places," he said. "One of quo," he said. the important elements for Hong Kong is that it

Dr Tom Palmer, Executive Vice President for International Programs at the Atlas Economic Research Foundation and a Senior Fellow at Cato Institute, giving speech at the conference

http://www.scmp.com/news/hong-kong/article/1077385/auction-two-residential-sites-defy-new-bid-cool-property-market

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Speech of John Tsang was quoted and the in- current situation faced by Spain, Italy and Porterview of Professor Xingyuan was mentioned. tugal due to huge welfare expenses. 'Separately, Financial Secretary John Tsang Chun-wah warned at a symposium yesterday that populism could threaten Hong Kong's fiscal health in a long run. At the same function, Feng Xingyuan, professor of the Rural Development Institute of the Chinese Academy of Social Sciences, said the Buyers' Stamp Duty - introduced at the end of last month - will affect the free market principles of He stressed the government has to manage Hong Kong.' public finances to deter instability such as the www.thestandard.com.hk/news_detail.asp?we_cat=2&art_id=128129&sid=38153156&con_type=1&d_str=20121108&fc=4

20121108 13:48 7 2 4 ()

Friedrich Naumann Foundation()

John Tsang
Financial Secretary of Hong Kong

http://www.chinataiwan.org/xwzx/gaq/201211/t20121108_3357886.htm

Background Photo: Olaff Kellerhoff www.olaf.kellerhoff@freenet.de

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EFN Asia: Welfare Populism and Poverty By Nonoy Oplas State-mandated welfare populism or universal welfare, is creating more dependency and mendicancy rather than independence and self reliance. It is encouraging more corruption rather than curing it, expanding the spend-tax-borrow policy, bloating the public debt and the economic uncertainty that comes with it. Therefore, politicians and the public should avoid welfarism trap and steer government to focus on promulgating the rule of law, protecting property rights, making social and economic rules apply equally to all and not making favoritism and cronyism. This is the main message in the two-days Economic Freedom Network (EFN) Asia 2012 conference last November 6-7, 2012, here at Crowne Plaza East Kowloon, Hong Kong. The event that attracted more than a hundred international and local participants was sponsored by the Friedrich Naumann Foundation for Freedom (FNF) and co-sponsored by the Lion Rock Institute (LRI), Hong Kongs first and only free market institute.

Nonoy Oplas President of Minimal Government Thinkers

This necessitates upholding the rule of law, that regulatons apply to all, exempts no one and no one can grant exemption from the limitations made by the law.

Thus, the law against killing, stealing, kidnapping, land grabbing, extortion and other criminal activities should apply and be strictly implemented. This equality before the law will act as the main incentive for people to become more industrious, responsible and self Among the speakers in the two-days con- reliant. ference were Wolf Dieter Zumpfort, Deputy Chairman of the FNF Board of Directors in Forcing equality in society via populist and Germany; Abhisit Vejjajiva, former Thai Prime welfarist policies like high food subsidy, Minister, Rainer Adam, Regional Director of fuel subsidy, housing subsidy, healthcare subthe FNF Southeast and East Asia, Bill Stacey, sidy, cash transfers would tend to encourage Chairman of LRI, and John Tsang, Finance Sec- dependency and mendicancy. Forcing equalretary of Hong Kong. ity of social outcome among the people regardless of their work and efficiency or lack The various speakers have reiterated the im- of them, will distort markets, wreak havoc on portance of setting markets free rich and the fiscal condition of governments, as what is poor, men and women, young and old, to have happening now in many welfare states in Euaccess to various employers and consumers rope like Greece, Spain, Portugal and Italy. of their skills and talent, products and ser- Even in Hong Kong, according to local speakvices, in a competitive and non-monopolistic ers, the government is treading slowly on or non-oligopolistic environment. The role of more welfarist policies that were absent when government is to protect the property rights this free trade economy was developing and of the people, that the fruits of their hard work has attained a highly developed economic and efficiency, are protected and not forcibly status. taken away from them by bullies and cheats.

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The European speakers in the conference also recognized that Hong Kong's generally free market and globalized economy coupled with the rule of law, is mainly responsible for its economic prosperity while Germany and many European economies are struggling with welfarism trap, massive unemployment, and the need to cut the expensive, huge debt generator welfare programs to help stabilize their economy.

public debt problem of many welfare economies, and it is part of their value system of not spending more than ones income.

Wall Street Journal editor for Asia business, Joseph Sternberg, observed that Mr. Tsang has several new taxes on residential real estate transactions, like a 15 percent tax on foreigners real estate buyers, an increase in special stamp duty, and the possibility of the HK government imposing a capital gains tax on propWelfarism is being introduced more liberally erty soon. in many Asian governments and economies recently. In Thailand for instance, they have All new taxes or hike in the rates of existing rice subsidy, free computer tablets for first taxes are meant to expand government revgraders, and subsidy for first time car buyers. enue to finance in part new welfare spending The latter alone cost the government $1 billion or expand coverage of existing welfare proand the traffic has worsened further. grams. Politicians, legislators and other poliIn Indonesia, fuel subsidy has further bloated cymakers cannot bind themselves and their the public debt. In China, there are calls for successors. The itch to intervene, to subsidize school free lunch, free school bus. and over-spend, is there, resulting in distortion in many sectors of the economy, high public In S. Korea, there are free child care and uni- indebtedness that results in high interest payversal school meal policy. If these and other ment and siphons resources away from othernew welfare programs are adopted, pub- wise productive spending. lic spending will rise by around $520 billion more, which will need either new taxes and/or Rule of law is undermined when government more borrowings. Existing welfare programs mixes with businesses. Cronyism and nepoalone is projected to contribute to government tism is not far off when government becomes spending of 45 percent of GDP and the public the regulator and industry player at the same debt is projected to reach 216 percent of GDP. time, even in the guise of protecting the poor from market manipulation by private enterIn the Philippines, there are various welfare prises demagoguery. programs supposedly to help fight poverty. These include education and books for the There were many other important points dispoor, healthcare and medicines for the poor, cussed during the conference. As the Philiphousing and relocation for the poor, credit and pine elections is coming closer, just six months tractors for the poor, and many of these do not away, reminding both the politicians and the seem to work as high poverty still persists, so voters that welfare populism is a costly policy they invented new welfare programs like cash that can create more dependency rather than transfer for the poor, and soon, pills and con- independence, is an important task for condoms for the poor. cerned individuals and civil society leaders. In his keynote address, HKs Finance Secretary John Tsang said that they are conscious of observing fiscal prudence for three reasons: it is in their constitution, they are aware of the huge http://thelobbyist.biz/index.php/perspectives/less-government/item/122-welfare-populism-and-poverty

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Photos from the conference.

Hon. Bi-Khim Hsaio, Director of the Department of International Affairs, Democratic Progressive Party (DPP) of Taiwan

from left to right: Dr Wolf-Dieter Zumpfort, Deputy Chairman of the Board of Directors, FNF; Hon. Abhisit Vejjajiva, Former Prime Minister of Thailand and Leader of Democrat Party; Dr Rainer Adam, FNF Regional Director for Southeast and East Asia; Andrew Work, Co-founder of the Lion Rock Institute

Dr Wolf-Dieter Zumpfort discussing with Dr Rainer Adam

On the stage, from left to right: Dr Neric Acosta, Presidential Adviser on Environmental Protection, Philippines; Hon. Ng Lip Yong, Chairman of the International Relations and Affairs department of the Gerakan Party of Malaysia; Hon. Bi-Khim Hsiao, Director of the Department of International Affairs, Democratic Progressive Party (DPP) of Taiwan

from left to right: Bill Stacey Chairman of the Lion Rock Institute Dr Wolf-Dieter Zumpfort Deputy Chairman of the Board of Directors, FNF Dr Rainer Adam FNF Regional Director for Southeast and East Asia

from left to right: Barun Mitra, Director of the Liberty Institute, India; Dan Ryan, Director of the Lion Rock Institute

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from left to right: Bill Stacey, Chairman of the Lion Rock Institute; Hon. John Tsang, Financial Secretary of Hong Kong; Peter Wong, Executive Director of the Lion Rock Institute

Dr Razeen Sally, Director of European Centre for International Political Economy giving speech at the conference

Conference participants, sitting in circle, joining strategic discussion group

from left to right: Dr Tom Palmer, Executive Vice President for International Programs at the Atlas Economic Research Foundation, and Prof. Feng Xingyuan, Professor of the Rural Development Institute, Chinese Academy of Social Sciences, answering the press

Peter Wong, Executive Director of the Lion Rock Institute, moderating one of strategic discussion group

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Strategic discussion in group

Fred McMahon, a Fraser Institute Resident Fellow and holder of the Dr. Michael A. Walker Research Chair in Economic Freedom

Tricia Yeoh, Research Director of Institut Rakyat, Malaysia

Economic Freedom of the World: 2012 Annual Report

measures the degree to which the policies and institutions of countries are supportive of economic freedom. The annual report is published in conjunction with the Economic Freedom Network, a group of independent research and educational institutes in 90 nations and territories worldwide. The Economic Freedom of the World Report: Hong Kong edition printed by EFN Asia

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Statement on Liberal Views on Populism from the EFN Asia conference 2012 in Hong Kong

WE WE WE

the liberals believe that populism is the promise of state-mandated, unsustainable benefits to the broader population without consideration of the long-term costs and benefits. It relies on highly emotive statements. In fact, populism is counterproductive to general well-being and progress, as illustrated by the economic decline of the many countries that have pursued populist agendas. are concerned that governments in Asia are turning away from the very policies that have promoted prosperity in many parts of the world. are confident that people will reject populist policies once they understand the true costs associated with them.

These costs include an increasing dependency on the state, weakening the rule of law, property rights and individual freedom. Populism also reduces the ability of individuals and local communities to make their own decisions, and undermines the competitiveness of businesses. Recent moves in Asia to subsidise food and fuel, and to transfer cash are all examples of populist policies that have done more harm than good. We are confident that if Asia commits itself to liberal values - such as property rights and the rule of law - the region will prosper. We therefore commit to: Provide alternative liberal solutions to the real problems that give rise to populism, and educate about the benefits of liberal policies, using positive language and examples. Provide public support to politicians, political parties, business groups and other stake holders that support liberal solutions. Expose the high costs in terms of money and disastrous end results of such policies Educate politicians and students Engage with the media to educate the public more widely Engage and create strategic alliances with civil society Meet on a regular basis to strengthen our network.

The statement is promulgated by the delegates to the EFN Asia Conference 2012 on this 7th day of November, 2012, in Hong Kong.

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Up Coming Event
Hosting a session in the prestigious Jeju Forum for Peace and Prosperity 2013
Business and Economy: Concurrent Session 5 May 30, 2013, 15.40-17.00 Jeju Forum for Peace and Prosperity is one of the Economic Prosperity in Asia : Asias major international comprehensive forums Dealing with Economic Nationalism where political, business, cultural and academic leaders gather together in Jeju, Island of World Haevichi Hotel and Resort Jeju, Peace to exchange opinions and to discuss the Republic of Korea ideas for the multilateral cooperation for common peace and prosperity in the region. Jeju Forum for Peace and Prosperity 2013 will be held from 29 to 31 May 2013 under the theme of "New Waves in Asia" hosted by Jeju Special Self-Governing Province with International Peace Foundation, East Asia Foundation and The JoongAng Ilbo. Main Theme : "New Waves in Asia" Date : May 29(Wed)-31(Fri), 2013 Venue : Haevichi hotel&resort, Jeju Hosts : Jeju Special Self-Governing Province, International Peace Foundation, East Asia Foundation, The JoongAng Ilbo Organizer : Jeju Peace Institute Sponsors : Ministry of Foreign Affairs and Trade, ROK Ministry of Land, Transport and Maritime Affairs, ROK Jeju Free International City Development Center Korea National Diplomatic Academy Korea Foundation Northeast Asian History Foundation Black Yak Seoul School of Integrated Sciences & Technologies Peace Research Institute Oslo Korea Human Development Institute Jeju Special self-governing Province Development Corporation Jeju Tourism Sciences Society Jeju Development Institute Jeju National University Cheju Halla University China Magazine Friedrich-Naumann-Foundation for Freedom Hankyung Business Korea Foundation Korea Institute for Gender Equality Promotion and Education ASEAN-Korea Centre

Quick Facts:

Sessions Opening Ceremony, Plenary Sessions(World Leaders Session, Special Sessions), 50 Concurrent Sessions Key Agendas International Cooperation & Security_ "In Search of Cooperative Leadership" Business & Economy_ "Common Prosperity beyond Crisis: from Turbulence to Excellence" Environment & Sustainability_ "Natural Environment and Human Well-being" Culture_ "Cultural Exchange and Global Cooperation" Community Development_ "Vision for the Future of Jeju" For more information--http://www.jejupeaceforum.or.kr/eng/ Page | 14

EFN Asia's Participation in Jeju Forum for Peace and Prosperity 2013 By Nonoy Oplas President of Minimal Government Thinkers, Inc.

For original article

http://funwithgovernment.blogspot.com/2013/03/efn-asia-16-participation-in-jeju-forum.html

he Economic Freedom Network (EFN) Asia will be participating in the Jeju Forum for Peace and Prosperity 2013 Conference this coming May 29-31, 2013, to be held at Haevichi Hotel and Resort Jeju, S. Korea. I think this will be the first time that the network will join this big international conference held yearly in the southern island of Jeju. The Friedrich Naumann Foundation for Liberty (FNF) Korea Office is working with the EFN Asia Secretariat in Bangkok in the network's participation. This forum was invented in 2001 meant for a regional dialogue to promote peace and prosperity in Asia, the Korean Peninsula in particular. Then it became successful in attracting more regional and international participants, it later became a big international conference held every two years, then made an annual event since 2011. I have heard and read about this forum in some news reports in the past, but I did not pay much

attention to it. I thought it is just an extension dialogue of the famous World Economic Forum (WEF) held annually in Davos, Switzerland. Early this month, the Regional Programme Officer of FNF for Economic Freedom and Human Rights, Pett Jurapaiboon, invited me to be the rapporteur of one of the panels in the Jeju Forum, and that panel will feature important and known speakers within EFN Asia. I immediately said Yes to Pett. Well, my batting average for all FNF invites, whether here in Manila or the regional office, has been 100 percent so far. I will be a rapporteur, not speaker, in a panel on Economic Prosperity in Asia : Dealing with Economic Nationalism, to be held in the afternoon of May 30. Thanks much, Pett. I am very excited to attend this big international conference. My interest in joining this and other regional events like the EFN Asia annual conferences, is simple: learn more how we can achieve regional

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and global peace and prosperity. Peace and economic prosperity. Enough of war, armed conflict and militarization of disputes that can be peacefully resolved through diplomacy and serious, honest dialogues. Enough of spending huge amount of taxpayers money to buy heavy instruments of war and destruction. Enough of economic restrictions and prohibitions that create poverty. If people, rich and poor alike, want to start a food shop ala "carinderia" in the Philippines or a modest housing or big residential condo, so be it. Governments should not put too many regulations, restrictions and taxes for these useful human endeavor that create jobs and provide useful goods and services to the people. So EFN Asia's chosen topic, dealing with economic nationalism, is timely and important. Economic nationalism and protectionism means only one thing: reduction of choices and options, reduction of human freedom, to choose products and services that can best serve their personal and enterprise needs and priorities. When na-

tional governments say to its people, "You cannot buy these goods from other countries at these prices. Better buy only from locally-made products, or buy the imported ones at high prices and limited quantity", that is limiting choice and freedom. The same way, when national governments also declare to its citizens, "You cannot study or work abroad unless you comply with these requirements..." and list down a dozen prerequisites, taxes and fees to pay as if one is applying to be a criminal abroad, that too, is limiting choice and freedom. Some poor job applicants to work abroad become poorer as they sell some personal and family properties so they can pay those multiple fees and taxes, both to the government and the favored job placement agencies and corporations that were accredited by the government. The topics in the 2 1/2 days forum are wide. To accommodate those different topics, four to five simultaneous discussions will be held. Here is the list of topics on the afternoon of Day 2, May 30.

15:40-17:00

[5-A] Economics Prosperity in Aisa: Dealing with Economic Nationalism

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Do you know who said this?

Try matching the famous economics quotes with their orgin:
(Answers in the next page) Margaret Thatcher Frederic Bastiat Ludwig von Mises John Locke John Maynard Keynes Karl Marx Milton Friedman Friedrich August von Hayek Adam Smith

Winston Churchill 1. 2. 3. 4. 5. 6. 7. It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. The worst evils which mankind has ever had to endure were inflicted by bad governments. 1. It is not from the benevolence of the butcher, the brewer, by or the baker that we Even the striving for equality means of a directed economy can result expect our dinner, but from only in an officially enforced inequality - an authoritarian determination their regard their own hierarchical interof the status of each individual into the new order. est. All mankind... being all equal and independent, no one ought to harm another in his life, health, liberty or possessions. Capital is dead labor, which, vampire-like, lives only by sucking living labor, and lives the more, the more labor it sucks. Socialism is the philosophy of failure, the creed of ignorance and the gospel of envy. Nothing is so permanent as a temporary government program.

8. 9.

Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone. There can be no liberty unless there is economic liberty.

10. The state is the great fictitious entity by which everyone seeks to live at the expense of everyone else. Page | 17

Answers: 1. 2. 3. 4. 5. 6. 7. It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. The worst evils which mankind has ever had to endure were inflicted by bad governments. Ludwig von Mises Even the striving for equality by means of a directed economy can result only in an officially enforced inequality - an authoritarian determination of the status of each individual in the new hierarchical order. Friedrich August von Hayek All mankind... being all equal and independent, no one ought to harm another in his life, health, liberty or possessions. Capital is dead labor, which, vampire-like, lives only by sucking living labor, and lives the more, the more labor it sucks. Karl Marx Socialism is the philosophy of failure, the creed of ignorance and the gospel of envy. Winston Churchill Nothing is so permanent as a temporary government program. Milton Friedman 8. 9. Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone. John Maynard Keynes There can be no liberty unless there is economic liberty. Margaret Thatcher 10. The state is the great fictitious entity by which everyone seeks to live at the expense of everyone else. Frederic Bastiat John Locke Adam Smith

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