Key quotes on the shift in global power

DAVOS, Switzerland (Reuters) - Following are highlights of comments by participants at the World Economic Forum on the shift of world economic and political power:

GEORGE YEO YONG-BOON, MINISTER OF FOREIGN AFFAIRS,

SINGAPORE:

"There is an enormous shift of power and influence in the world. It is mainly a story of the rise of China and India. It has never been in the past that powers emerge on such a massive scale without powers and revolutions. The challenge is how do we maintain the peace in Asia in this century - it is not easy.

"We talk about sovereign wealth funds - these are only an aspect of a much bigger phenomenon.

"In Asia for us, it is also (about) how China and India manage their re-encounter with each other.

"It is the accommodation into the global system which is most important. I fully agree that the sooner China and India are brought into G7, G8 the better.

"Either they are part of the solution... or they become part of the problem."

SHIMON PERES, PRESIDENT OF ISRAEL:

DO CHANGES MAKE PEACE HARDER IN THE MIDDLE EAST?

"I believe we are not talking about market and finance, we are talking about two systems - governments and non-governmental organizations.

"Problems have become global - the environment, the economy - I do not believe there are national economies, only national poverties.

"Governments are good for war and poor for peace. When it comes to peace, or the cost of peace it divides the nation. People say you pay too much.

"You cannot live any more on tradition. Land, or the attitude toward women. I think the greatest achievement in the 20th century was the equality of women.

"Now the struggle is not just between Israel and Palestinians but between both camps. I do hope the non-governmental participation will save the day.

"The governments are victims of their own past, of their own prejudices. New organizations are unprecedented, they have no pasts, no prejudices, and have no border."