It is true that there are different views and perceptions with regard to the concept and meaning of economic security. It is our preliminary thought that the primary essence of economic security is to safeguard the economic sovereignty of a state, of which financial security stands at the core. Economic security is based, first of all, on formulating the right strategy for economic growth and enhancing a country's economic might and competitiveness. It is based on political stability, the inviolability of sovereignty, and respect for its model of development. Meanwhile, it is necessary for countries to take an active part in and work to promote regional economic cooperation and coordination, readjust and improve the existing international economic and financial order and, in particular, to strengthen supervision over and take strict precautions against excessive speculation.
Economic security is mutual, and it is inadvisable to try to shift one's troubles onto others.
For the past year, the ARF has made active exploration centering on confidence-building and achieved remarkable and concrete results. The ARF spirit and approach have been fostered, namely equal participation, consensus-making, seeking common ground while shelving differences and incremental progress. At present, the ARF's future direction has drawn much attention. For reasons both past and present, it is still an arduous task to build confidence among Asia-Pacific nations. Over the past five years, the ARF has accumulated some useful experience and formulated certain principles in the process of enhancing mutual understanding and confidence among its participants.