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VISION: The Think Tank for Business Leaders in Asia Pacific – advocating for open trade and the flow of goods and services in today’s complex digital economies.
“PBEC releases its Global Sourcing Report on APAC 2023

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.

Read more…

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News
: China Retail Sales Surge In October But Economy Remains Sluggish

Chinese retail sales grew in October at the fastest rate in five months, data showed Wednesday, boosted by an extended holiday at the start of the month, though other indicators pointed to still-sluggish demand in the world’s number-two economy. The country slipped back into deflation last month, while exports continued to fall, highlighting the challenge for officials grappling with weak domestic consumption and a faltering recovery since Beijing abolished strict zero-Covid curbs in late 2022. Read More HERE: https://www.ibtimes.com/china-retail-sales-surge-october-economy-remains-sluggish-3718551

: PE Insights – Private Wealth Conference highlights

Milan May 2023 highlighted reel – which was our first PE major event of the year 2023 https://drive.google.com/file/d/1w9amNARIROInji1jERo8KzgPLCfemnQM/view?usp=sharing) Followed by London (SEP 2023) and Munich (SEP 2023) conferences, attached are pictures of these events. https://drive.google.com/drive/folders/1-HE-Zj0fKj9GcrfQT8TE4s9AwH5Pcgn2?usp=drive_link https://drive.google.com/drive/folders/1ZKgkEyOHNidpJ3U43v-oAIh35yUdNsBF?usp=drive_link We are having ANNEMARIE DALKA, the chair of NVP, the industry body of Netherlands as a speaker in Benelux. https://pe-insights.com/our-network/companies/pfr/annemarie-dalka/

: China’s pitch to foreign investors falls flat as incentives dwindle – July 2023

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…

: Why Singapore’s ecosystem for technology startups is among the best -July 2023

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…

: Global supply chains need fixing: Help is on the way – July 2023

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…

: APEC Photo Contest 2023 – NOW Open for submissions – July 2023

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…

: PBEC Patron Member BitMEX former CEO Arthur Hayes Explains How AI Could Drive Bitcoin Price to $760,000 – July 2023

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…

: RCEP boosts trade cooperation among China, Japan and South Korea – July 2023

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…

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Dr. Morgan Carroll resides in Hanoi, Vietnam and recently stepped down as the Director of Environmental, Social, & Governance (ESG) at Vingroup and VinFast. He was responsible for developing and implementing global ESG strategies in Vingroup and VinFast to enhance the business sustainability culture. He is originally from South Africa and resides in Vietnam. Dr. Morgan has demonstrated proficiency in the complex Environmental Social Governance landscape for multiple MNC’s and sectors which is a key area of focus for the…

Airbus Corporate Jets and Jet Aviation invited PBEC members to visit one of the latest large cabin aircraft available in the shape of the A220CJ, a fabulously designed interior to cater upto 28 passengers in maximum comfort. Ideal for Government delegations and MNC’s in APAC to move around in secure and safe surrounding on your own schedule.

A PBEC Insight: AI is being implemented in various ways within supply chain management, leading to significant advancements in operational efficiency and decision-making. Here are some examples of how AI is currently being used: Demand Forecasting: AI algorithms analyze historical sales data, market trends, and external factors to generate accurate demand forecasts, enabling organizations to optimize inventory levels, reduce costs, and meet customer demands effectively. Route Optimization: AI-powered systems optimize transportation routes by considering factors like traffic congestion, delivery time…

The year ahead will be pivotal for many board members. During the KPMG INED Forum, PBEC Chair Andrew Weir, KPMG’s Global Chair of Asset Management and Real Estate, outlined 10 critical areas for directors to focus on and better navigate the opportunities ahead. These areas include accelerating digital transformation, leveraging Gen AI and bolstering cyber defences. See attached mini report.

PBEC welcomes our newest member Stephan Kochem from SICA – Swiss Insurance & Capital Advisors – leading specialists in the global reinsurance market with a particular focus on expanding their unique offering to Asian clients and new markets in the renewable energy, O&G & real estate sectors. Learn more about Stephan here: https://www.sica.ag/en/stephan-kochem-en/ – he visited Hong Kong and Manila in April and arranged proposals for some our PBEC members already in the re-insurance coverage for coal-fired power stations in…

Congratulations to PBEC’s Board of Director Peter Burnett who received his OBE in person from Her Royal Highness Princess Anne in Windsor two years on from being bestowed this wonderful award & recognition for all the work he has done. In 2022 Peter was honoured by Her Majesty, Queen Elizabeth in her last New Year’s Honours but due to Covid restrictions the official ceremony was postponed till 2024. PBEC is so very proud of you. Click images to enlarge

“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

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…

About PBEC

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.

Our Mission

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.

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PBEC’s Miguel Aboitiz of Aboitiz Power Corp, Philippines 2 minute Economic Update – Apr 2024
PBEC Members Regional Briefing Q1 Meeting Recording – Apr 2024

AGENDA ITEMS:

1) Welcome remarks and regional perspectives by PBEC’s Chairman Andrew Weir MBE JP.

2) Remarks by Vice Chairman Dr. George Lam.

3) Insights from PBEC’s Anson Bailey’s interview with AI Futurist Zach Kass, formerly of Open AI.

4) Brief update from ABAC Canada’s Joseph Fung MD of Saltagen Ventures on the Food Security track at APEC, including observations from ABAC I Meeting in KL and the upcoming ABAC II meeting in Hong Kong SAR.

5) Observations and activities from Q1 and upcoming climate disclosures report by PBEC’s Michael Walsh, along with member events hosted overseas.

6) Open floor for additional comments and updates from delegates in attendance.

7) In closing remarks and action items – the Chair brings meeting to a Close

The Value Prop – episode 25

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.

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Global Trade Modernization Index ICC Event - image 1

ICC/Milken Institute & Asia Global Institute release its Global Trade Modernization Index in Hong Kong – Apr 2024

PBEC CEO Michael Walsh was a special guest alongside ICC Senior Directors Pamela Mar and Sebastian Man as well as Ambassador Curtis Chan of Milken Institute Asia and the former Financial Secretary of HKSAR amongst others including PBEC’s Peter Burnett, HKMA and FSDC senior executives. The index showed country ranking for digital adoption in supply chains and friendliness for FDI’s. Singapore came out 1st, Hong Kong SAR 4th, Taiwan, ROC 10th and Malaysia 15th, Japan 17th and South Korea 18th…

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