FC Global Business Series to explore China’s Role in ASEAN’s post-Covid-19 Economic Recovery
The details of the 3rd webinar are as follows:
Date : 23 June 2020, Tuesday
Time : 5.00pm – 6.00pm (Singapore Time)
Theme : China’s Role in ASEAN’s post-Covid-19 Economic Recovery
Business China and UK-based Asia House are convening government ministers and senior business figures for a timely webinar on exploring China’s role in ASEAN’s economic recovery from the COVID-19 crisis.
Dr Koh Poh Koon, Senior Minister of State, Ministry of Trade and Industry, Singapore, will be joined by His Excellency Cesar Purisima, Former Secretary of Finance, Republic of the Philippines, Founding Partner of Ikhlas Capital, and Mukhtar Hussain, Group General Manager, Head of Belt and Road Initiative and Business Corridors, HSBC, to discuss the region’s rapidly changing economic and geopolitical landscape.
With highly open economies often dependent on travel and tourism, COVID-19 is hitting Southeast Asian economies hard. The Asian Development Bank (ADB), which in December forecasted Southeast Asia to grow by 4.7 per cent, has in April revised this downwards to 1.0 per cent. All signs point to the economic impact of COVID-19 on Southeast Asia to be on par or even greater than the fallout from the 1997-98 Asian Financial Crisis – a downturn with economic and political implications that continue to play out today.
Nonetheless, the International Monetary Fund (IMF) and ADB see COVID-19 to be a relatively short-term shock for the region and project a strong rebound for Southeast Asia in 2021. The IMF has suggested that much depends on the economic recovery of the Association of Southeast Asian Nations (ASEAN)’s key trading partners. As its largest trading partner, third largest investor and a major driver of travel and tourism in the region, China’s role in ASEAN’s post-COVID-19 recovery is one to watch. At the same time, ASEAN economies are also positioning themselves to leverage new opportunities created by businesses seeking to diversify supply chains away from China – signifying a broader structural shift for the global economy. All of this takes place against the backdrop of growing tensions between China and the US, with growing concerns among ASEAN countries that they have to choose sides.
In this webinar co-organised by Asia House and Business China, a panel of high-level experts will convene to discuss the role of China in ASEAN’s economic recovery following the COVID-19 pandemic, and the economic and political implications that leaders in the region will have to contend with.
For more information on the speakers’ bio please refer to: https://www.futurechina.sg/en/fc-global-business-series/chinas-role-in-aseans-post-covid-19-economic-recovery/