At a time when climate change, pandemic threats and technological changes are compounding the disruptive force of more conventional risks such as demographic change and political turmoil, there is good reason to marshal the serendipitous forces that surround us. As “tiger mums” worldwide strive to engineer a successful life for their children, I have always nurtured a temptation to warn them that all those meticulously organised life plans are likely to be laid in vain. Improbable, unpredictable events will almost…
The Pacific Basin Economic Council International Secretariat held a roundtable dialogue luncheon at the Beefbar in Central in January 2024 for Hong Kong based Board of Directors and their representatives. 12 members enjoyed an excellent 3 course meal and shared their latest insights on regional and domestic economic and geopolitical concerns and areas for PBEC to be focused on in 2024. Chairman Andrew Weir MBE JP welcomed former Emeritus PBEC Chairman Dr. Wilfred Wong GBS JP and fellow board members…
New stock offerings in Hong Kong are expected to generate more than double the amount of funds for companies this year, making the city’s stock exchange one of the five busiest venues globally, according to KPMG. The firm expects 90 initial public offerings (IPOs) to raise HK$100 billion (US$12.8 billion), banking on stronger inter-connectivity with the Middle East and spin-off listing opportunities to fill the pipeline. Positive sentiment among investors in artificial intelligence or AI, semiconductor and green technology could…
AUSTRALIA & CHINA TALK TRADE: Trade Minister Farrell and Commerce Minister Wang met virtually on Tuesday where they co-chaired a 17th Joint Ministerial Economic Commission meeting. Minister Farrell used the forum to resolve outstanding trade impediments affecting rock lobster and red meat trade. NEW ZEALAND LASHES CANADA: Trade Minister McClay is seeking legal advice after accusing Canada of failing to comply with a dairy trade ruling. He described Canada’s refusal to implement the ruling under the CPTPP FTA as cynical….
EU PUBLISHES COMPREHENSIVE CHINA REPORT: The EU has published an update of a 2017 report on state-induced distortions in China’s economy. It aims to provide information for trade remedy inquiries and focusses on China’s support for sectors including new energy vehicles and environmental goods. AUSTRALIAN MINISTER LEADS FIRST DELEGATION: Assistant Trade Minister Ayres has this week led an Australian Business Mission to Singapore and Malaysia. The Business Mission is the first under Australia’s new ASEAN Business Exchange Program and focussed…
AUSTRALIA TO BOOST EXPORT GRANTS: The Government introduced legislation to Parliament this week to streamline and boost the effectiveness of its Export Market Development Program. The major changes to the program include increased grants and earlier access to the funding for successful business applicants. NEW ZEALAND RACES TO IMPLEMENT EUROPEAN FTA: New Zealand’s Parliament has this week been completing the necessary legislative actions to allow ratification of the New Zealand-European Union FTA. New Zealand hopes the FTA can be introduced…
TRADE MINISTERS HEAD FOR CRITICAL MEETING: Trade Ministers are jetting to Abu Dhabi for next week’s 13th ministerial conference of the WTO. They will confirm the accession of Timor-Leste and debate critical trade issues encompassing topics such as agriculture, fish subsidies, digital trade and dispute resolution. AUSTRALIA TO PUSH NEW FTA: Australia and the UAE are preparing for a 2nd round of negotiations for a comprehensive economic partnership agreement. It follows a first round in January. Trade Minister Farrell will…
US TO INVESTIGATE APPAREL COMPETITIVENESS: The US International Trade Commission is to investigate the export competitiveness of apparel industries in Bangladesh, Cambodia, India, Indonesia and Pakistan. A public hearing will be held on March 7. The five economies are key sources of apparel for the US market. AUSTRALIAN TRADE AMBASSADOR COMPLETES TERM: Australia’s Ambassador and Permanent Representative to the World Trade Organisation, George Mina, has completed his assignment in Geneva. He took up the position in 2020. He previously served…
AUSTRALIAN PRODUCTIVITY UNDER MICRO-TAX THREAT: A Productivity Commission research paper has suggested an increasingly complex and inefficient tax system risks limiting productivity growth. The paper says the number of sector-specific industry levies had grown from 26 to 248 since 1980. SOUTH KOREA & EU LAUNCH DIGITAL TALKS: Negotiators have been meeting in Brussels this week for the first negotiating round for a South Korea-EU Digital Trade Agreement. Meanwhile South Korea and Indonesia have met this week to review the implementation…
An Opportunity to Exclusively Partner with PBEC on publishing this Full Market Report PBEC is pleased to announce its second in-depth report on Global Sourcing and Supply Chain Trends impacting APAC businesses. Building on the success of our highly regarded report, “Charting a Course in Asia Pacific – Regional Trends in Global Sourcing,” our latest research, initiated in May 2023, focuses specifically on Scope 3 emission capture and public disclosures by multinational corporations (MNCs) listed on the top six largest…