PBEC’s subject matter expert Ben Simpfendorfer of Oliver Wyman spoke to China Daily journalists Ouyang Shijia and Ma Qing “The foundations are there for recovery.” While China’s growth target of around 5 percent for this year seems challenging, Simpfendorfer said he believes the goal is “still achievable if the real estate sector begins to stabilize”. Dismissing the speculation that China’s economy is showing signs of peaking, he said the “long-term growth prospects still look very good”. “China hasn’t peaked. It’s…
Author: Kati Suominen is a Research Fellow at the Hinrich Foundation a PBEC Corporate Member and partner Foundation – July 2024 Created in 2022, the US-led Indo-Pacific Economic Framework for Prosperity, or IPEF, was the Biden administration’s response to the Trump Administration’s withdrawal from the Trans-Pacific Partnership. The IPEF is non-binding and fails to deliver any market access, such as lowering tariffs and non-tariff barriers like subsidies and import quotas. It also does not meaningfully address digital trade rules. In…
Author: PBEC’s Hinrich Foundation Yuqing Xing a Professor of Economics of the National Graduate Institute for Policy Studies (GRIPS) in Tokyo By 2022 Japanese foreign direct investment in China had reached US$127.6 billion, the largest among Asian countries. Many Japanese multinational enterprises used the country as an export platform for the US market. The 25% punitive tariffs imposed by the US on Chinese exports and the possibility of escalation in the trade war raised the costs and uncertainty of operating…
Invitation to register for online webinar: On the 3 July 2024 at 10AM UK / 4PM Vietnam/Thailand / 5PM Hong Kong/Malaysia/Singapore & Philippines time, PBEC’s Vina Capital will host its Mid-Year Vietnam Economy & Market Review & Outlook Webinar. PBEC’s Michael Kokalari, Chief Economist, and Linh Vu, Head of Research, will review macroeconomic and stock market performance in H1 2024 and share their outlooks for the remainder of the year. After their remarks, a Q&A session from the audience will…
The Pacific Basin Economic Council is hosting a round table dialogue with experts involved in the Asia-Pacific Economic Cooperation (APEC) forum. We are joined also by The APEC Business Advisory Council (ABAC) members who are appointed by APEC’s 21 member economies to represent business interests in the Asia-Pacific region. The dialogue will feature ABAC representatives from Australia, Hong Kong, and the Philippines, as well as the APEC- Asia Pacific Economic Council Int’l Secretariat Executive Director. PBEC’s Chair, Andrew Weir MBE…
Despite the uncertainty about what lies ahead for global trade, there are still reasons for optimism about its resilience and its enduring role as a catalyst for positive change, and these are encapsulated in the current trends that are shaping the landscape. As 2024 Q2 draws to a close, economies in Asia Pacific are facing what is projected to be a modest slowdown to approximately between 3.5% to 4.2% on average according to the IMF. But this paints over some…
ESG factors have become mainstream and are now a top concern for Boards of Directors. Proper ESG implementation can help businesses and regional Government authorities address current social cohesion challenges and seize future opportunities. On this episode of the Value Prop, we are joined by David Ching Heng Hoe, CEO of Ong & Ong Vietnam and a board member of the PBEC, who shares his insights, challenges and opportunities on the real estate sector and major infrastructure developments in the…
5The Pacific Basin Economic Council Vision outlined for 2024-2027 ahead of its AGM 2024 – by Michael Walsh CEO PBEC – June 2024 Collaboration as a mission, to create value, innovation and new opportunities for growth through free and open digitally enabled cross border Trade in APAC Hello PBEC members, colleagues and followers. It’s a pleasure to share the latest mission and vision of the Pacific Basin Economic Council (PBEC) for the next three years- an organization that has been…
A perspective from the Pacific Basin Economic Council (PBEC) on the potential benefits for Hong Kong businesses in joining the Regional Comprehensive Economic Partnership (RCEP) trade area should its current application be finally approved: The Pacific Basin Economic Council views Hong Kong’s application to join RCEP as a positive development that could deliver significant economic benefits for Hong Kong businesses. As an export-oriented economy with deep trade linkages across the Asia-Pacific region, Hong Kong’s membership in RCEP makes strategic sense….