Dean of S. Rajaratnam School of International Studies of Nanyang Technological University Ambassador Barry Desker,

Ladies and Gentlemen,

It is a distinct pleasure for me to join all the friends, experts and scholars here at the inaugural Singapore Global Dialogue to exchange views on the evolution of the international architecture and global governance. I wish to begin by expressing sincere thanks to Nanyang Technological University, particularly the S. Rajaratnam School of International Studies, for their kind invitation to me and careful preparations and thoughtful arrangements for the meeting.

Singapore has a unique strategic location, a place where Eastern and Western cultures meet and blend. It is therefore a highly relevant venue for discussions under the theme of "the future of global order" amid the ongoing profound changes in the current international order. I am confident this meeting will encourage a candid exchange of ideas and in-depth discussion, increase understanding and broaden consensus.

Ladies and Gentlemen,

In the late 1980s and early 1990s, when the Cold War ended and the bipolar structure fell apart, the world started moving toward multi-polarity, and peace and development became the trend of the times. Since the beginning of the new century, the September 11 terrorist attacks and the financial crisis have exerted a profound and complicated impact on the international situation. The evolution of the international architecture has taken on new trends and features.

First, the global balance of power is going through new changes and the prospects of a multi-polar world are becoming clearer. Fast development of major developing countries and further growth of the collective strength and international influence of developing countries have become one of the most important development trends in the early days of the new century. While tackling the international financial crisis, major powers are generally busy adjusting their respective development strategies and foreign policies in preparation for international competition and cooperation in the post-crisis era. A new round of contest of comprehensive national strength at a higher level is unfolding. With their basic policies oriented toward safeguarding national interests, major powers are found competing with each other as they engage each other in cooperation. New groupings are formed on different issues. A world of multiple power centers is taking shape. International and regional organizations of all kinds are more active than ever, and new cooperation mechanisms keep coming to the fore. They are playing an increasingly important role in addressing global issues and major international and regional issues.

Second, positive reform steps have been taken toward a more just and more reasonable international financial system. The underlying impact of economic globalization has gradually been felt. Growing global challenges further accentuate the inadequacy of the reform of the global governance mechanism. The international financial crisis has laid bare the flaws in the existing international economic and financial system. The international community now has a more urgent desire to reform and improve the current international system, and consensus has been reached in many aspects. With the concerted efforts of all parties, the G20 summit has been institutionalized and become a new and premier platform for global economic governance. Both the voting share reform at the World Bank and IMF quota reform have made positive progress. These reforms will help break the monopoly of international economic and financial affairs by a small number of countries or a group of countries, and lead to greater democracy in global governance mechanism.

Third, the international security situation is, on the whole, stable, but factors affecting peace and security become more complicated and diversified. This round of evolution of the international architecture takes place in the times of peace and development. It is proceeding gradually in a peaceful way, not through warfare on a global scale. Peace, dialogue and understanding, rather than war, confrontation and estrangement, is the shared aspiration and the inevitable trend. Countries are more interdependent and their interests have never been so closely interconnected. The security of one country is more and more inseparable from that of the entire international community. Common security and multilateralism have gained greater popularity. Traditional security challenges still exist, geopolitical factors are more conspicuous, and hotspot issues keep flaring up. Non-traditional security threats like terrorism, food security, energy and resources security, public health security, climate change, transnational crimes and drug trafficking continue to worsen. Traditional security issues and non-traditional ones are more than ever closely intertwined.

Fourth, as an important part of the international architecture, Asia features more prominently in the global strategic configuration. Asia is the largest continent in the world. With its vast landmass, large population and rich resources, Asia enjoys great potential for development. It is one of the fastest growing and most dynamic regions in the world and has played an irreplaceable role in the international community's common response to the financial crisis. This is particularly so for East Asia. Asian countries' vigorous exploration of development paths suitable to their national conditions have not only advanced their own economic and social development but also greatly inspired other developing countries. Asia's accelerated regional cooperation features combined strength and synergy between various mechanisms on the whole. Major forces attach greater importance to the status and role of Asia in the international architecture and have scaled up their attention to and input in Asia. The ongoing profound transformation of the regional landscape and order in Asia, interacting with what's going on globally, is, in a sense, a miniature of the evolving international architecture.

Meanwhile, we should note that the imbalance of development worldwide, the gap between the South and the North and the economic and technological advantages of the West will not change fundamentally in the near future. Reform of the international system concerns the immediate interests of all countries, and will not be completed overnight. Major unexpected contingencies occur from time to time. The world is still confronted with predictable and unpredictable challenges and risks.

In general, the evolution of the international architecture toward greater balance, security, democracy, justice and rationality is an irreversible historical trend. Yet it will also be a long, tortuous complicated and gradual process.