Second, my government is committed to ensuring that Australia enters the year 2000 with a strong and competitive economy. My government will not be distracted from working purposefully on a reform agenda that will meet the ambitions Australians have for the next century. Third, consistent with the theme of the conference, 'regional renewal - opportunity in a time of challenge', I genuinely believe our region can learn from the present crisis and emerge from it equipped for the next century, economically stronger and politically more stable. We must seize that opportunity. My government will be as active as it can in helping the region take advantage of it.
Governments inevitably face great social and political pressures when economies slow down.
Reform during such times is not easy - but it is essential. In pursuing reform, I recognise a responsibility to safeguard the interests of those citizens who are affected by the necessary changes. We must, however, keep our focus firmly on where we want to be in the year 2000 and commit ourselves to the reforms that are necessary to get us there. If we don't act now, nothing is surer than that we'll be hit harder by any further shocks. With the benefit of hindsight, it is fair to say that the region's spectacular growth had led to a degree of over-confidence.