Bill Clinton this week presided over the Clinton Global Initiative (CGI) summit in Asia, the first such meeting overseas. "We decided to come to Hong Kong because of the region's leadership and capacity to make a difference on major issues of our time," he told an audience of 400 elite politicians, business leaders and celebrities like Jet Li and Michelle Yeoh.

Clinton with Singapore's elder statesman Lee Kuan Yew.

Discussions during the two-day meeting revolved around today's headlines (global financial meltdown, economic recession) and long-term problems (climate change, energy, public health and education.)

Yet another exercise in empty talk? The former U.S. president disagrees. "This meeting needs to be viewed as a verb, not a noun," he boomed, echoing the conference consensus. He praised the "new philanthropy in this part of the world" and called for "genuine partnership among the government, business and civil society". He urged people to open their hearts and wallets. "The current economic crisis is not an excuse to give less," he said.

At the end of the meeting, Clinton reported scores of charitable pledges in Asia worth $185 million going to manifod projects that will impact lives of 10 million people.

Up close, the former U.S. president remains a formidable politician and motivational speaker. He enthralled the audience with charisma, gravitas and gift of the gab, offering "tour d'horizon" ruminations on wide-ranging topics. On stage in Day 1, he exchanged witty remarks with Singapore's elder statesman Lee Kuan Yew conversing on climate change, the financial crisis, the role of governments and civil society and the status of women.

When Lee noted that many Asian women are now "refusing to be slaves of their husbands or in-laws", Clinton chuckled and mumbled, "God, if I could say that..." The audience applauded when the 85-yead-old Lee batted for women's rights. "It does not work if you educate the women and you don't give them equal job opportunities," he said. Nodding, Clinton surmised that the next day's headline will read: Lee Kuan Yew issues his "feminist manifesto".

Other consensus came out of panel discussions. I served as moderator of two panels. In one panel, we discussed how to respond to natural disasters and do a better job at relief and reconstruction. Panelists agreed on the importance of quick response, openness and transparency, and close cooperation between governments and civil society.

Hollywood kung-fu star Jet Li, who leads one of the first NGOs to help out when earthquake hit Sichuan last May, talked about philanthropy. Li leverages his star power to solicit donation. His formula: 1 person + 1 yuan/month = One Family, his charity group's name.

Why the altruism? "We are born naked and will die naked", Li explained in accented, rapid-fire English. "We need help to be born and will need help to die. Between birth and death, I want to help, give back. I am grateful to the guy who will push the button to start my cremation." Michelle Yeoh put it simply: "I do it because I could, and because I should."

Another consensus was, talk the talk and walk the walk. In the other panel I facilitated, a group of eco-warriors, NGO activists and business leaders passionately talked about how pollution and environmental degradation are posing health hazards to people across the region. Their prescription: Turn ideas into action.

Some addressed big issues, others specifics. Before you get into your car, advised a speaker from Shell, think twice if you really need to make the trip. While brushing teeth, counseled an eco-warrior, don't let the water tap running. Some delegates thumbed down the freezing temperature in the venue. Others frowned that participants are served bottled instead of dispensed drinking water.

Organizers did try to walk the walk. Timberland, a CGI in-kind donor, offered delegates a pair of eco-friendly boots made from recycled materials as corporate giveaways.

When not speaking on stage, the former president works the crowd, shaking hands, patting shoulders and posing for pictures.

"He looks at you in the eye as if you were the most important person in the room," gushes a local business executive. On the sidelines of the panel discussions, he met government officials, corporate CEOs and philanthropists, as he usually does. Now that president-elect Barack Obama has appointed Hillary Clinton as secretary of state, the ex-president may have to curtail such activities overseas to avoid potential conflicts of interest.

"For example," he explained in an exclusive interview with CNN's Anjali Rao, "if she is going to be secretary of state and I operate globally and I have people who contribute to these efforts globally, I think that it's important to make it totally transparent." Clinton has agreed to publicize the list of donors to his foundation and to CGI. To avoid even just the appearance of conflict of interest, conference participants think this could be the last CGI gathering overseas, at least as long as Hillary remains in charge of America's foreign affairs.