The Global Emerging Markets Summit took place at the end of April in London over two days and once again provided a fine selection of speakers from governments and commerce throughout the emerging markets of Asia and Africa.

Though there was a great deal of interesting discussion on why the current economic crisis occurred and whether it was due to incompetence, greed or complacency it was recognised that America's foolhardy explorations into sub prime markets was the overall cause.

As a result, America's position as a global leader has been thrown into question, at least when based on its position as a financial super power, something it certainly cannot claim to be at the moment.

Asia is in a very strong position with Japan, China and India holding the best dollar reserves to ensure their own financial stability and ability to carry themselves through and beyond the crisis.

Watch as the eyes of the World begin to divert from West to East as the balance of power shifts from one to the other. Our tomorrows could begin to take on a very different focus very soon.

In this photo I am joined by Ms Chloris Flint, Deputy President ASEAN UK, Tan Sri Dato' Seri Rafidah Aziz, Former Minister Trade & Industry Malaysia, Victoria Bowater-Wright, Former Bilateral Aid Advisor to Malaysia & New Zealand.

On the 15th of December 2008 Datuk Peter Wentworth OBE, CEO of BP Companies Malaysia, addressed an audience at the Corus Hotel in Hyde Park London, on the future of World energy resources as we currently see them.

His speach was concise and to the point. Energy is a reducing commodity faced with a rising demand and the only reason the World was coping right now was because of the economic down turn subsequently and temporarily reducing that demand as industry cuts back to cope with the effects of a World wide recession. Oil prices were falling due only to current surplusses but that would change as economies regained ground and industry returned to increased production.

He explained that as China has no Oil reserves to speak of, it depends on imported stocks or the use of coal which it does have in plentiful supply, Chinas need for Oil could only be satisfied by reduced usage elsewhere through increased efficiency. The World currently requires 85 Million Barrels of Oil a day, a level that simply isn't posible. It is unlikely that current production methods will increase yields to that level for at least another five years.

He explained that international demands for every nation to reduce carbon emmisions was also probably unachievable at this time as demands for energy rated as a higher priority to fulfill the Worlds needs than the protection of the environment. He added that the future for power generation was probably going to depend heavily on Nuclear and Coal fired Power Stations, unpopular though that may be.

At present drilling efficiency levels, Oil will run out in just 40 years. Gas will run out in 80 years and Coal in about 140 years. Though there is consierably more left in the fields, it is currently impossible to reach it or retrieve it viably. Such time spans are minimal in World time terms, so efficiences must be increased and new power sources developed.

For an extended commentary please see my report at www.trevorkrueger.com which will be added soon.

As pretty much expected, the launch of Air Asia's budget route from Stanstead to Kuala Lumpur was a grand and enjoyable occasion. Tony Fernandes is a man who enjoys his business and is generous enough to share that emotion with all around him. So this portion of my Blog is intended to give you more of a sense of being there than any analytical appraisal of the effect fares at £99 are going to have on his competitors in the long haul market. His aim is to make flying accesible to the wider public, especially his fellow Malaysians, only 6% of whom flew anywhere last year.

The day was glorious in our Thameside location at County Hall, cold but bright and the backdrop of Westminster across the water and the London eye to our right was splendid indeed. The focal stage was set with the expected branding and video reels, seats were decked with promotional material and outside there were stages set for latter entertainment.

There were special guests (you can discover more about in my news section at www.trevorkrueger.com), a copious qauntity of adorable cabin crew, whom I have decided should be called Tony's Angels, and countless hacks and photographers snapping like hungry crocs at the edge of a water hole.

Tony and his colleagues gave an impressive introduction to the deal and made us all want to buy tickets on the spot. Suddenly paradise was in reach, I could smell the warm and humid air of KL under my nose and for a moment forgot it was actually frozen by the chill London wind.

After the speeches, brave and lovely Malay dancers entertained us with bare arms and bare feet refusing to show how frozen they were, though they had been huddled shivering next to the stage just moments earlier, sheltering from the wind. Shortly after came the big reveal. A sign showing the £99 price tag was unveiled for the media. I was genuinely impressed, for though there are taxes etc to pay on top of this base price, flights would now amount to a lot less than the £2,500 it can easily exceed to fly a family of four to the far east.

Then, Tony reverted to his love of music as he entertained us with a set of three tracks performed by the excellent new girl band "The Saturdays". This was a great event full of fun to support the hard facts of competitive air fairs that are sure to see bloodshed on the floors of competitors board rooms throughout the industry.

An excellent hot meal was served, we interviewed Tony for a radio broadcast and then we went on our way laden with Air Asia Baseball Caps and Tee Shirts! Later that evening Tony threw a party to top off the day on the 31st floor of Centre Point, it's night views across London - absolutely spellbinding. At around 9pm there was one last announcement. Since tickets went on sale at noon that day, over 9,000 seats had been sold for a service not even starting until March 2009.

Air Asia had taken off at Stanstead before the first jets had even landed to receive passengers.