Regional trends in global sourcing
As businesses assess their operational capacity needs for a predicted bumpy recovery, to recalibrate during and post-pandemic, it is crucial to understand what brought us to this point and where it is likely leading us.
The Pacific Basin Economic Council (PBEC), Monash University Malaysia and KPMG, together with contributions from PBEC members, are pleased to publish this report on global sourcing, reviewing the most recently announced supply chain and sourcing movements in the region, charting a new course in Asia Pacific.
China is struggling to revive foreign investment in its financially battered cities and provinces as foreign firms remain wary of political risks and new incentives fall far short of sweeteners once used to attract overseas money. With their coffers depleted after an economically bruising pandemic and property crisis, local authorities have been racing to find new revenue sources, with foreign investment particularly coveted. Premier Li Qiang in March declared China open for business again, and since then provinces and cities…
The city-state offers a good case example for other Southeast Asian countries vying to become tech and innovation hubs By Nitin Pangarkar Academic Director and Associate Professor at National University of Singapore Paul Vandenberg Senior Economist at the Asian Development Bank Singapore has a vibrant ecosystem that nurtures and develops technology-based startups. Its ecosystem was ranked 18th in the world in 2022 and fifth in Asia, behind Beijing, Shanghai, Seoul, and Tokyo, by Startup Genome and Global Entrepreneurship Network. According to…
Facing global supply chain challenges, the Indo-Pacific Economic Framework promotes economic cooperation among 14 economies, strengthening supply chain resilience, fostering innovation, and driving growth By: Cyn-Young Park- Director for Regional Cooperation and Integration, Economic Research and Regional Cooperation Department at the Asian Development Bank Supply chains – the vital global connections between the making of products and their delivery to customers worldwide – have been tested in recent years. They are increasingly vulnerable due to a lack of coordinated oversight…
Now in its 12th year, the APEC Photo Contest showcases inspirational photos from around the region with a creative take on APEC host priorities. The annual photo contest celebrates the resilience and adaptability of the 21 APEC member economies. Share with us images that will make us think, reflect and admire how people are interconnected, innovative, and inclusive in their daily lives, what sights they see and the sounds they hear in the APEC region. How do you picture a…
Yes you heard that right. My hope is that artificial intelligence (AI) and robotics will be used primarily to eliminate the tedious, bullshit work in which most of humanity currently toils, so that more and more people can pursue their passions in a similar fashion. Ideally, this will lead to our next great renaissance of art and culture, as millions (or even billions) of humans are suddenly free to do what they love and create happiness through art. Before such…
Since RCEP came into effect in China and Japan in January and South Korea in February of 2022, it became the first free trade agreement that fully includes all three economies of China, Japan and South Korea. The trade deal helps reduce the tariff costs of cross-border trade among its members and promotes such measures as self-declaration of origin by approved exporters. China has now become Japan’s and South Korea’s largest trading partner. Meanwhile, South Korea and Japan have become…
APEC released a set of guidelines to further the forum’s work on environmental services and marine debris management. The guidelines encourage member economies to facilitate services that support the clean-up of marine debris from beaches, rivers, coastal areas, and the open ocean. Marine debris refers to plastic and other litter, discarded and lost fishing equipment, industrial rubbish, and other human-created waste that enters the seas and oceans. A 2020 report by APEC Ocean and Fisheries Working Group estimated that marine…
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“Lots happening this week at ABAC/APEC in San Francisco around resilience of supply chains, sustainability, financial inclusion, digitisation, AI, etc – not to mention that all important meeting between two Presidents. And then there’s Boeing showcasing the first autonomous, battery-powered air taxi called “wisk” in a fetching bright yellow livery which can’t be missed ! The target price point is an Uber fare. I offered to be the first hailing passenger!” said PBEC’s BoD Peter Burnett OBE, BBS, JP
PBEC’s VC Dr. George Lam BBS, JP spoke to lawmakers, stakeholders and delegates at the recent World Green Organisation and ESCAP-ESBN supported event on ESG for Climate Actions International Conference held at Cyberport HK. It was in a hybrid format with several hundred in the audience and over 25K were watching online. George highlighted the many challenges Asian economies still face in allocating sufficient resources and incentives to the private sector to reduce their own industrial carbon footprints. He emphasised…
On October 29th 2023 – PBEC’s Sebastian Man hosted a small group of distinguished leaders in HK including PBEC CEO Michael Walsh for a dinner with the Former Consul General of the USA to HK and Macau Kurt Tong. He joined The Asia Group LLC a business advisory firm in 2019 with offices across Asia and HQ in Washington D.C. Kurt Tong is Managing Partner and member of the Executive Committee at The Asia Group, where he leads consulting teams…
DL Holdings Group Limited (“DL Holdings” or the “Company”, together with its subsidiaries, the “Group”, Stock Code: 1709.HK) issued a voluntary announcement on the Hong Kong Stock Exchange today, announcing that the Company officially launched the global artificial intelligence (AI) family office with a year of preparation, which would accelerate the global strategic planning of AI wealth management on top of the foundation of the existing digital family office. Read More HERE: https://finance.yahoo.com/news/dl-holdings-1709-hk-launched-101100884.html
The negative factors that affected the stock market are in the rear-view mirror or getting there, and the prospects of higher stock prices in the months ahead are supported by rebounding earnings growth, a recovering economy and cheap valuations, according to Michael Kokalari, chief economist at VinaCapital. Read More HERE: https://vietnamnews.vn/economy/1636502/vn-stock-market-ready-for-rebound-as-negative-factors-abate-vinacapital.html
Velocity Technology, a leading IT professional services firm headquartered in Hong Kong and serving clients across the Asia Pacific region, is thrilled to announce its vibrant rebrand. The rebrand reflects Velocity’s commitment to “shining the light on all things IT” for their clients, and marks a significant milestone in the company’s growth and expansion. Celebrating our New Look & Strengthened Team Velocity Technology Unveils Vibrant Rebrand with StratusRed, City Computing and Talented City as New Additions to the Velocity Group…
PBEC CEO Michael Walsh and Board of Director Sebastian Man who is also recently appointed to the MIT HK board committee were in attendance alongside leading HK business leaders/former and current Government officials supporting the MIT celebration of 150 years Women in STEM. The event was graced with multiple alumni of MIT including Marjorie Yang Mun-tak GBS a former PBEC Board of Director who represents Hong Kong at ABAC amongst many other esteemed titles and roles. We heard from the…
CCU International in partnership with CS Tech Solution Limited brought #carboncapture to Hong Kong for the first time at the recent #rethinkhk2023 expo. On the early morning before the expo opened, CCU International Founder and CEO Beena Sharma alongside CS Tech CEO Dixon Chan came and spoke with PBEC members at a closed door briefing session at the KPMG offices in Central. Our Chairman Andrew Weir and CEO Michael Walsh welcomed them to Hong Kong. Dixon expressed his excitement about…
We are delighted to be joined by Andrew Weir our Chairman and Senior Partner and Vice Chairman of KPMG China on our latest episode of the Value Prop. Andrew provides us with some excellent commentary on the big topics concerning his clients and sharing some of his insights on the current status of APAC’s economy and where its heading into the latter part of 2023.
PBEC took a table and invited its members to attend the ICAEW – Institute of Chartered Accountants of England & Wales 75th Anniversary gala dinner at the Grand Hyatt Ballroom in Hong Kong on 26th October 2023. Over 300 guests packed out the ballroom on the evening and we were entertained throughout. We were delighted to welcome a large contingent of PBEC HK board of directors and members on the night, namely; Peter Burnett OBE BBS JP, Lester Huang SBS…
Discount code: PBEC25 for any LP/GP and PBEC members wishing to join these two events. Amsterdam (Benelux) on October 27th, 2023 Stockholm on November10th, 2023 Here are the TWO upcoming Conference links for further information on how to register and join. About PE Insights: Private Equity Insights is a leading independent conference provider in the Private Equity space and has been in the industry for over 13 years. Private Equity…
PBEC – Pacific Basin Economic Council is by invitation ONLY a members based institution, that supports connectivity and cross-border regulatory standardisation efforts within APAC for all technological advancements, through dialogue, engagement and collaborative efforts.
PBEC’s focus is to continual attain recognition as the most comprehensive multilateral platform for APAC business leaders to engage with, advocating key trade issues of importance under a fair rules based system, thus promoting cooperation amongst member States to achieve inclusive, sustainable economic and social development in Asia and the Pacific.
