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.
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.
Technology and COVID-19 have led to increasing adoption of cashless transactions. More and more, consumers are buying online, and vendors are rushing to adjust their business models to accommodate remote buying and touchless payments. In the face of this change, what does going cashless mean for different economies?
The year 2020 will be remembered for the turbulence caused when a pandemic swept through the world, fundamentally changing people’s way of life, presenting unprecedented challenges to governments worldwide, and forcing businesses to reflect and adapt in order to survive. With this in mind, the Asia Business Council and the Tanoto Center for Asian Family …
There is a growing trend of family investors supporting local entrepreneurs and giving back to society. For family offices that are equipped with the right know-how, impact investing can promote the kind of social mobility that is increasingly rare in this city.
