Towards a New Economic Order

AsiaGlobal Dialogue 2016: Towards a New Economic Order, looked at how business might be a positive and dynamic agent of change as the global economy rebalances to the East. The event provided plenty of opportunities for delegates from around the world to exchange ideas on different aspects of the emerging global economy.

Keynote Address: Towards a New Economic Order, was delivered by Asia Global Institute Academic Council Chairman Michael Spence. In it, he identified the key issues of our time. He highlighted global confusion over outlook and non-resilient growth patterns, the need for great global effort and strong leadership to nurse the global economy back to health, and signs that hopeful changes for the world as a whole were just around the corner.

Plenary Dialogue 1: New International Monetary Order, featured Institute for New Economic Thinking President Robert Johnson, HSBC Chief Executive for Greater China Helen Wong, and HKU Professor of Public Policy Xiao Geng as speakers. Moderated by AGI Distinguished Fellow Andrew Sheng, the group discussed today’s threats to the financial order as envisioned during the Bretton-Woods conference,  and how China’s rise might benefit Asia as a whole.

Plenary Dialogue 2: Transformation Through Technology and Innovation saw Suntory Holdings President and Chief Executive Officer Takeshi Niinami; Ayala Corporation Chairman and CEO Jaime Augusto Zobel de Ayala II; and McKinsey’s Richard Dobbs discuss the impact of technology on human society and how society changed and evolved as a result. The group also raised issues of concern relating to technological advancements including the growing importance of artificial intelligence, as well as concerns raised by data security. Moderated by Napoleon Biggs.

Luncheon Keynote: Central Banking—Unconventional Solutions to Unconventional Policies? Chairman of the Board of Trustees of the Group of Thirty Jacob Frenkel shared his views on how unconventional central banking policies are shaping global economies in a conversation with Distinguished Fellow Andrew Sheng and President of the Institute for New Economic Thinking Robert Johnson.

Following an afternoon of breakaway sessions, the group closed with Dinner Keynote on The Impact of Technology on Jobs and Growth, delivered by The Asia Global Institute Trio: Advisory Board Chairman Victor K Fung, Distinguished Fellow Andrew Sheng, and Academic Council Chairman Michael Spence, discuss whether new technologies could lead to economic growth, but create fewer jobs. And if this is the case, what are the implications of this?

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