Economic experts, BFA official call for strengthening multilateralism in unstable world

Economic experts and the secretary general of the Boao Forum for Asia (BFA) on Tuesday called for strengthening multilateralism, as they stressed that cooperation between nations continues to serve their common interests.

They made the appeal at a press conference at the Boao Forum for Asia (BFA) Annual Conference 2026, which opened on Tuesday in Boao, in south China's Hainan Province, and will run until Friday.

"We believe that under the current circumstances, multilateralism, economic globalization and the process of sustainable development still hold strong vitality. Openness, cooperation and win-win development remain the most in line with the common interests of all parties," said Zhang Jun, secretary general of the BFA.

Experts said Asia's economic growth remains robust, showcasing its role as the world's primary growth engine.

"Last year's forecast predicted that Asia's overall economic growth would reach 4.5 percent, higher than the previous year. In fact, based on data available to date, Asia's economic growth rate reached 4.7 percent," said Zhang Yuyan, director at the Institute of World Economics and Politics, part of the Chinese Academy of Social Sciences.

Some analysts stressed that the development of artificial intelligence (AI) in Asia still faces many cross-border challenges, especially the fragility of supply chains, which has become critical in the current unstable global environment.

"We should see that amid the integrated development of artificial intelligence in the region, we still face many cross-border challenges, mainly in areas such as data security, privacy protection, diverging technical standards, and vulnerability of supply chains. Against the backdrop of unstable global geopolitical situation, the fragility of supply chains deserves particular attention," said Lydia Chen, Partner at the Deloitte China Research.

This year's BFA, themed "Shaping a Shared Future: New Dynamics, New Opportunities, New Cooperation," features four core topics and more than 50 sub-forums, roundtables and dialogue sessions.

Founded in 2001, the BFA has grown into a key platform for addressing Asian issues and strengthening cooperation both within the region and globally.

Economic experts, BFA official call for strengthening multilateralism in unstable world

A hailstorm struck the Sikhottabong district of the Lao capital Vientiane on Sunday, causing extensive damage to homes, vehicles, and public facilities and affecting more than 2,000 households, the Lao Ministry of Labor and Social Welfare reported Tuesday.

Residents in Sikhottabong's Viengkham Village said that houses were damaged, with debris scattered inside homes as rain poured through damaged roofs.

The sudden hailstorm also damaged many vehicles parked outdoors, severely disrupting local residents' lives.

"Both sides of the roof were completely destroyed. A huge hail stone punched through the roof and fell into the house with a loud crackling sound," said a resident.

"I was hit on the head by hail stones. My mother, who was at home, was also struck on the head," said another resident.

On Monday, Lao Minister of Labor and Social Welfare Phoxay Sayasone visited the affected areas to assess the situation, provide support to residents, and deliver emergency relief supplies.

Officials said efforts are underway to secure construction materials to accelerate repairs to damaged homes. The ministry is also planning longer-term recovery measures to restore livelihoods, with targeted assistance to affected households.

Hailstorm hits Laos, affecting over 2,000 families