A collaborative article by the Asia Business Council and McKinsey delved into the perspectives of business leaders in Asia as they navigate an emerging and potentially more turbulent era, in terms of world order, technology, demographics, resource and energy systems, and financial capitalization. Overall, they believe the region can sustain its growth but will need strategic adjustments to address disruptions and volatility in a multipolar world.
If India is to successfully double the size of its economy by 2030, the only viable path is raising the number of women in the workforce
Cooperation among nations in the Global South has enabled developing economies to help each other through knowledge and technology transfers. Using this approach to address the digital infrastructure gap and build a highly skilled workforce can keep emerging countries from falling further behind.
The Philippines, Indonesia, Vietnam, India, and Thailand have benefited from global supply chain diversification and are poised to capitalize on their large labor pool and potential consumer market to reach the next level of development
A decade ago, Asia’s millennials were optimistic the region would set aside conflicts and become more united to meet global challenges such as climate change. Today’s Generation Z, who grew up amid rising geopolitical tensions and major economic disruptions, are no longer so hopeful.
Finance can be unleashed as a force for good, to deliver social impact and bring economic windfalls for ordinary citizens, from youth advancement, financial literacy, and promotion of the arts and technology to climate change efforts.
Asia’s economic growth and development have been unparalleled over the past 75 years. Poverty has declined continuously and more rapidly than at any time in recorded history, and significant welfare gains have been achieved. These achievements have been driven by Asia’s growing participation in international trade and global value chains, which underpin the globalization process. More broadly, globalization refers to the integration of economies that has been achieved through growing levels of international trade, finance, and investment, and through the mounting exchanges of people, ideas, and data.
Women are indispensable to Hong Kong’s future growth; closing the wage gap, while providing more support at home, can pave their re-entry to the workforce.
In Asia, as a more internet-savvy and health and environmentally conscious consumer takes center stage, emerging technologies are offering new opportunities and innovative solutions for people from diverse backgrounds and geographies.
Increasing supply chain resilience in Asia can help blunt the worst effects of climate change, improve biodiversity and closed loop thinking, and even help eradicate the scourge of modern slavery.
