The Asia Business Council conducted its 2024 survey of members in July and August 2024, offering a set of perspectives from CEOs and Chairmen of predominantly Asian businesses. Overall business sentiment was split, with 43 percent of respondents indicating optimism about business conditions improving in the next year, 11 percent foreseeing a worsening business environment, …

In a more competitive world with multiple economic hubs, the once-dominant influence of East-West superconnectors is waning. Hong Kong must capitalise on the Greater Bay Area, Belt and Road Initiative and focus on ‘sweet spot’ sectors where China and other regions seek better cooperation.

Biotech is especially important given the ageing population and economic ambitions of Hong Kong – and China as a whole. For the world, biotech protectionism will lead to more expensive treatments and greater health insecurity.

The deteriorating bilateral relationship can benefit from expert input from the business community as Beijing and Washington redraw the lines in strategic industries. Business ties can also play a stabilizing and humanizing role as dialogue channels shrink elsewhere.

Opportunities to participate in global governance and diplomacy will broaden young people’s horizons and deepen their understanding of China and the world.