expressing their impatience with old-style politics and old-style leaders. So the past year has seen the Taiwanese parliament pass from the hands of elderly mainland politicians to representatives elected democratically in Taiwan. It also saw the election of the first civilian President in South Korea for 31 years. In Thailand the overthrow of the military-run regime led to a popularly elected government.
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Of course Asia retains its fair share of flashpoints. North Korea remains probably the most closed country in the world and keeps the international community guessing - and worrying over its nuclear ambitions. In Burma the ruling military council shows little sign of loosening its repressive grip. Cambodia's future is still uncertain, although the UN is doing its utmost to see through the implementation of the Paris peace accord. And there are uncertainties surrounding the balance of power in the area;
as the Soviet threat recedes there are fears of an eventual US military withdrawal from the region and of a power vacuum which China, Japan or others might seek to fill.
But these are small clouds on a largely blue horizon. trend is clearly towards political liberalisation, which in turn should fuel greater economic openness.
The UK in the Asia-Pacific
So how does the UK fit into the Asia-Pacific picture?
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Compared with our European competitors, we start with considerable advantages. Our exports to and investment in the region are significantly greater than theirs. This reflects recent activity as much as an inheritance from the past: we are in no sense a sunset presence. We are particularly strong in Hong Kong, Singapore and Malaysia. There is a good deal of goodwill towards the UK. English is the preferred language for conducting business and many influential figures in business and government have received some of their education in the UK.
But that competitive advantage is in danger of being eroded. Germany, France and Italy are well aware of the growing importance of the region and are competing effectively for market share. Also our assets are heavily weighted towards our traditional centres of strength in the region. We do not have a strong market position, even now, in the countries of most dynamic growth.
Only 7% of British exports went to the Asia-Pacific region in 1991. We need to improve on that if we are to be major players. Our competitors in these new markets are not only the USA and our partners in Europe, but also Australia and other countries within the region. Trade within the Asia-Pacific region by far exceeds its trade with other countries perhaps one reason why the region has been so little affected by the recession in the rest
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