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Considered by many historians as the first step toward the Constitutional formation of the South Asian Confederation, heads of government from the Republic of China, Malaysia, Indonesia and the nations of Southeast Asia were invited to Singapore by President Chok Yam Tan. Delegates to the Conference were the inheritors of the Chinese economy; the republican Chinese, the capitalist executors of Hong Kong, Shanghai and the South China Economic Area, and Singapore. These economic interests had the foresight and vision to recognize that for them to achieve confederation would require the inclusion of the former British Commonwealth members India, Australia and New Zealand, and the Philippines.