R&D WILL BE DRIVING FORCE OF ASIAN CENTURY - ANGARA

This century is predicted to be Asia's time to rise as the world's next economic superpower and the Philippines could capitalize on this opportunity by focusing on research and development, said Senator Edgardo J. Angara.

A European Commission study shows that the center of gravity of world production will swing towards Asia by 2025, making it imperative for the Philippines to boost its science and technology capacity in order to ride the next wave of economic dynamism.

"The Philippines has just as much potential to be a major player in this Asian century as any of our neighboring countries if only the government makes substantial investments toward innovations in science and technology," said the former UP president at the launch of the book "How Asia Can Shape the World" held at the Singapore embassy recently.

"China and India are graduating more engineers than Europe and the United States combined," he added. "We need to realize that the only way we'd be able to rise above our developing nation status is if we harness available technologies and innovate to form a knowledge-based economy."

Angara, however, warned that Asia faces two great challenges: inequitable distribution of income and power, and corruption and poor governance. Asian nations would be able to overcome these through systematic reforms and continued cooperation, he added.

"It is time for prosperity to spread across developing Asia," said Angara, chair of the Senate Committees on Education, Arts and Culture; Science and Technology; and Congressional Commission on Science Technology and Engineering (COMSTE).

"How Asia Can Shape the World" was authored by Danish diplomat, economist and scholar Joergen Oestroem Moeller.