The third Straits Times Global Outlook Forum on Friday featured prominent speakers discussing the theme: 2015 And The Promise Of An Asian Resurgence.
This year’s theme comes amid concerns of fragility about China’s and Japan’s growth.
Speakers included Asia analyst Kishore Mahbubani, renowned editors T.N. Ninan of India and Endy Bayuni of Indonesia, Singapore-based academics Li Mingjiang and Lam Peng Er, and Mr Sanjoy Sen, ANZ Bank’s head of retail banking in the Asia-Pacific.
The third Straits Times Global Outlook Forum, which will feature a keynote speech by astute Asia analyst Kishore Mahbubani, kicked off at Shangri-La Hotel on Friday morning.
The theme this year is: 2015 And The Promise Of An Asian Resurgence.
ST Global Forum: Asia is about to enter new golden era, says Kishore Mahbubani
Asia is about to enter a “new golden era” over the next decade, Professor Kishore Mahbubani, an expert on Asian and international affairs and Dean of the Lee Kuan Yew School of Public Policy, told The Straits Times Global Outlook Forum on Friday.
In his keynote speech, Professor Mahbubani attributed the coming good tidings to a combination of three factors.
ST Global Forum: High hopes from new India government but reality takes time to change, says editor T N Ninan
Expectations are running ahead of reality in India, with high hopes from the new Narendra Modi government, but reality takes times to change, said one of India’s most respected financial editors T N Ninan.
He was offering his perspectives on India at The Straits Times Global Outlook forum on Friday.
ST Global Forum: Widodo’s move to raise fuel price is politically astute, says ANZ’s chief economist
Indonesian President Joko Widodo’s recent move to raise subsidised petrol price by over 30 per cent was “absolutely correct”, and its timing was “politically astute”, ANZ’s chief economist Glenn Maguire said.
“The election cycle is five years. It’s always better to get very tough decisions out quite early, rather than later in the cycle,” Mr Maguire said in a panel discussion at The Straits Times Global Outlook forum on Friday.
ST Global Forum: China’s leadership will not turn back on reforms, says expert Li Mingjiang
China’s new leadership is different from those of past administrations and has embarked on a “new normal” that will not be reversed.
Unlike previous Chinese leaders, President Xi Jinping sees himself as “the owner of the house”, not a “manager of the house”, said Dr Li Mingjiang, coordinator of the China programme at the S. Rajaratnam School of International Studies.
This is very different from the last two leadership regimes in China, said Dr Li, who was offering perspectives on China at The Straits Times Global Outlook forum on Friday.
ST Global Forum: Japan is ‘a canary in a coal mine’, says Dr Lam Peng Er
As Japan’s economic policies, or Abenomics, take shape, the country is a “canary in the coal mine”, a harbinger for things to come for the euro zone that is facing the risk of deflation, said Dr Lam Peng Er from the East Asian Institute (EAI).
“There are lots of comments in Europe asking the questions ‘will the euro zone suffer from zero interest rate and face the danger of deflation? will the Europeans engage in quantitative easing like the Americans?” said Dr Lam.
“Canary in the mine is in a way what Abenomics is doing, it may be a reference point for the euro zone which may well be going into recession again,” the EAI senior research fellow said, in reference to the expression of mine workers carrying caged canaries into mine tunnels to detect dangerous fumes.